RingCentral Inc (RNG) Stake Lowered by Bailard Inc.

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Bailard Inc. reduced its holdings in RingCentral Inc (NYSE:RNG) by 25.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,400 shares of the software maker’s stock after selling 12,300 shares during the quarter. Bailard Inc.’s holdings in RingCentral were worth $2,918,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of RNG. Dimensional Fund Advisors LP raised its holdings in RingCentral by 32.7% during the second quarter. Dimensional Fund Advisors LP now owns 97,701 shares of the software maker’s stock worth $6,874,000 after purchasing an additional 24,052 shares during the last quarter. United Services Automobile Association raised its holdings in RingCentral by 19.7% during the second quarter. United Services Automobile Association now owns 12,552 shares of the software maker’s stock worth $883,000 after purchasing an additional 2,067 shares during the last quarter. Sheets Smith Wealth Management acquired a new position in RingCentral during the third quarter worth $385,000. Aperio Group LLC raised its holdings in RingCentral by 25.6% during the third quarter. Aperio Group LLC now owns 15,026 shares of the software maker’s stock worth $1,398,000 after purchasing an additional 3,060 shares during the last quarter. Finally, Oakbrook Investments LLC acquired a new position in RingCentral during the third quarter worth $205,000. 78.01% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently weighed in on RNG shares. Zacks Investment Research cut RingCentral from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 7th. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price target on shares of RingCentral in a report on Wednesday, November 7th. TheStreet raised RingCentral from a “d+” rating to a “c” rating in a report on Thursday, January 24th. Finally, Stephens started coverage on RingCentral in a report on Thursday, January 3rd. They issued an “equal weight” rating for the company. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $94.27.

Shares of NYSE:RNG opened at $100.90 on Monday. The firm has a market capitalization of $8.11 billion, a PE ratio of -288.29 and a beta of 0.99. The company has a quick ratio of 4.07, a current ratio of 4.07 and a debt-to-equity ratio of 1.22. RingCentral Inc has a 52 week low of $49.55 and a 52 week high of $101.07.

In other news, CEO Vladimir Shmunis sold 13,009 shares of RingCentral stock in a transaction on Tuesday, January 8th. The stock was sold at an average price of $87.57, for a total value of $1,139,198.13. Following the completion of the sale, the chief executive officer now owns 276,760 shares of the company’s stock, valued at $24,235,873.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Praful Shah sold 1,250 shares of RingCentral stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $86.40, for a total value of $108,000.00. Following the completion of the sale, the insider now directly owns 286,974 shares of the company’s stock, valued at approximately $24,794,553.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 243,484 shares of company stock valued at $19,716,779. Company insiders own 11.99% of the company’s stock.

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About RingCentral

RingCentral, Inc provides software-as-a-service solutions for business communications and collaboration primarily in the United States. The company's products include RingCentral Office, a multi-tenant, multi-location, and enterprise-grade communications and collaboration solution that enables employees to communicate through voice, text, team messaging and collaboration, and HD video and Web conferencing through smartphones, tablets, PCs, and desk phones for businesses, which require a communications solution; RingCentral Professional, an inbound call routing subscription with additional text and fax capabilities primarily for smaller businesses; and RingCentral Fax solution that offers Internet fax capabilities, which allow businesses to send and receive fax documents without the need for a fax machine.

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Institutional Ownership by Quarter for RingCentral (NYSE:RNG)

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