15,100 Shares in RingCentral, Inc. (NYSE:RNG) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new position in shares of RingCentral, Inc. ( NYSE:RNG – Free Report ) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 15,100 shares of the software maker’s stock, valued at approximately $529,000.

Other institutional investors have also modified their holdings of the company. Hennessy Advisors Inc. acquired a new position in shares of RingCentral during the 4th quarter worth approximately $59,055,000.



Jupiter Asset Management Ltd. boosted its position in shares of RingCentral by 4.7% in the fourth quarter.

Jupiter Asset Management Ltd. now owns 1,058,753 shares of the software maker’s stock worth $37,067,000 after buying an additional 47,827 shares during the period. Charles Schwab Investment Management Inc.

grew its stake in shares of RingCentral by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc.

now owns 832,197 shares of the software maker’s stock valued at $29,135,000 after buying an additional 10,110 shares in the last quarter. Valley Wealth Managers Inc. purchased a new stake in shares of RingCentral during the 4th quarter valued at about $20,792,000.

Finally, Fort Washington Investment Advisors Inc. OH lifted its position in RingCentral by 32.5% during the 4th quarter.

Fort Washington Investment Advisors Inc. OH now owns 550,304 shares of the software maker’s stock worth $19,266,000 after acquiring an additional 134,928 shares in the last quarter. Institutional investors and hedge funds own 98.

61% of the company’s stock. RingCentral Price Performance RNG opened at $24.33 on Friday.

The company has a market capitalization of $2.21 billion, a PE ratio of -38.01, a price-to-earnings-growth ratio of 1.

27 and a beta of 1.20. RingCentral, Inc.

has a fifty-two week low of $23.71 and a fifty-two week high of $42.19.

The business has a 50-day moving average of $30.10 and a 200-day moving average of $33.29.

Wall Street Analysts Forecast Growth RNG has been the topic of a number of recent analyst reports. Piper Sandler cut their price objective on shares of RingCentral from $38.00 to $31.

00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Robert W. Baird decreased their target price on RingCentral from $38.

00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Needham & Company LLC lowered their price target on RingCentral from $42.

00 to $36.00 and set a “buy” rating for the company in a report on Friday, February 21st. Mizuho cut their target price on shares of RingCentral from $42.

00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and set a $30.

00 target price (down from $38.00) on shares of RingCentral in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock.

According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $37.69. View Our Latest Research Report on RNG Insiders Place Their Bets In related news, SVP John H.

Marlow sold 22,979 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $28.82, for a total value of $662,254.

78. Following the completion of the transaction, the senior vice president now owns 348,599 shares of the company’s stock, valued at $10,046,623.18.

This represents a 6.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink .

Also, CEO Vladimir Shmunis sold 123,560 shares of RingCentral stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $28.56, for a total value of $3,528,873.

60. Following the sale, the chief executive officer now directly owns 444,740 shares in the company, valued at $12,701,774.40.

The trade was a 21.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here .

In the last quarter, insiders sold 247,740 shares of company stock worth $7,099,279. 6.97% of the stock is currently owned by company insiders.

RingCentral Profile ( Free Report ) RingCentral, Inc, together with its subsidiaries, provides cloud communications, video meetings, collaboration, and contact center software-as-a-service solutions worldwide. The company’s products include RingCentral Message Video Phone that provides a unified experience for communication and collaboration across multiple modes, including HD voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax; RingCentral Contact Center, a collaborative contact center solution that delivers AI-powered omnichannel and workforce engagement solutions with integrated RingCentral MVP; and RingCX, an AI-powered contact center that a native delivers omnichannel experience. Featured Articles Want to see what other hedge funds are holding RNG? Visit HoldingsChannel.

com to get the latest 13F filings and insider trades for RingCentral, Inc. ( NYSE:RNG – Free Report ). Receive News & Ratings for RingCentral Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RingCentral and related companies with MarketBeat.

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