78,366 Shares in RingCentral Inc (NYSE:RNG) Acquired by Natixis

Natixis acquired a new position in shares of RingCentral Inc (NYSE:RNG) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 78,366 shares of the software maker’s stock, valued at approximately $9,006,000.

Other institutional investors also recently modified their holdings of the company. Parametrica Management Ltd acquired a new position in shares of RingCentral during the 1st quarter worth approximately $232,000. Raymond James & Associates grew its stake in shares of RingCentral by 16.0% during the 1st quarter. Raymond James & Associates now owns 351,776 shares of the software maker’s stock valued at $37,921,000 after buying an additional 48,418 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of RingCentral by 4.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 431,461 shares of the software maker’s stock valued at $49,584,000 after buying an additional 19,191 shares during the period. Fox Run Management L.L.C. purchased a new stake in RingCentral during the 2nd quarter worth $261,000. Finally, Empowered Funds LLC purchased a new stake in RingCentral during the 1st quarter worth $1,491,000. Hedge funds and other institutional investors own 83.44% of the company’s stock.

NYSE:RNG traded up $4.58 during trading hours on Thursday, reaching $128.70. 641,739 shares of the company’s stock were exchanged, compared to its average volume of 791,712. The company has a market capitalization of $10.92 billion, a P/E ratio of -3,217.50 and a beta of 0.87. RingCentral Inc has a 12 month low of $64.41 and a 12 month high of $146.38. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 1.13. The business’s 50-day simple moving average is $137.21 and its two-hundred day simple moving average is $119.71.



RingCentral (NYSE:RNG) last issued its earnings results on Monday, July 29th. The software maker reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.13. The firm had revenue of $215.20 million during the quarter, compared to analysts’ expectations of $204.70 million. RingCentral had a negative net margin of 3.95% and a negative return on equity of 1.13%. The firm’s revenue for the quarter was up 33.8% compared to the same quarter last year. During the same period last year, the firm posted $0.19 earnings per share. As a group, sell-side analysts anticipate that RingCentral Inc will post -0.13 earnings per share for the current fiscal year.

A number of equities analysts have weighed in on the stock. Oppenheimer upped their price objective on shares of RingCentral from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. SunTrust Banks increased their price objective on shares of RingCentral to $163.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Zacks Investment Research upgraded shares of RingCentral from a “hold” rating to a “buy” rating and set a $129.00 price objective on the stock in a research note on Thursday, July 4th. Jefferies Financial Group upped their target price on shares of RingCentral from $140.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $150.00 target price (up previously from $140.00) on shares of RingCentral in a research report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. RingCentral presently has a consensus rating of “Buy” and an average price target of $135.94.

In related news, insider Praful Shah sold 5,016 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $115.33, for a total value of $578,495.28. Following the completion of the sale, the insider now owns 257,763 shares in the company, valued at approximately $29,727,806.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO David Sipes sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $124.00, for a total transaction of $186,000.00. Following the completion of the sale, the chief operating officer now owns 258,911 shares of the company’s stock, valued at approximately $32,104,964. The disclosure for this sale can be found here. In the last 90 days, insiders sold 408,986 shares of company stock valued at $55,074,381. 11.03% of the stock is owned by insiders.

RingCentral Company Profile

RingCentral, Inc provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect primarily in North America. The company's products include RingCentral Office, provides communication and collaboration across various modes, including high-definition voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax through smartphones, tablets, PCs, and desk phones; RingCentral Professional, a cloud based virtual telephone service for professionals, as well as provides inbound call answering and management services, and includes inbound local, long-distance, and toll-free minutes; and RingCentral Fax that provides online fax capabilities that allow businesses to send and receive fax documents without a fax machine.

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Institutional Ownership by Quarter for RingCentral (NYSE:RNG)

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