RingCentral Inc (RNG) Expected to Post Quarterly Sales of $137.00 Million

Lloyd Doyle
January 14, 2018

Coe Capital Management Llc sold 15,335 shares as the company's stock rose 34.13% with the market. The institutional investor held 151,887 shares of the business services company at the end of 2017Q3, valued at $15.98 million, up from 8,468 at the end of the previous reported quarter. Strategic Financial Services Inc who had been investing in Boeing Co. for a number of months, seems to be less bullish one the $200.24 billion market cap company. The stock increased 0.21% or $0.25 during the last trading session, reaching $120.09. About 6.56 million shares traded or 97.65% up from the average. Also Livetradingnews.com published the news titled: "RingCentral Inc (NYSE:RNG) Mixed Signals" on January 11, 2018. It has outperformed by 24.43% the S&P500.

More recent RingCentral, Inc.

Alex Sacerdote decreased its stake in Ringcentral Inc (RNG) by 7.07% based on its latest 2017Q3 regulatory filing with the SEC. The hedge fund run by Alex Sacerdote held 1.00 million shares of the technology company at the end of 2017Q3, valued at $41.88 million, down from 1.08M at the end of the previous reported quarter. The company's stock had a trading volume of 546,320 shares, compared to its average volume of 327,116. RingCentral, Inc. (NYSE:RNG) has risen 80.85% since January 11, 2017 and is uptrending. It has outperformed by 64.15% the S&P500.


Investors sentiment increased to 2 in Q3 2017. Its down 0.32, from 1.31 in 2017Q2. It is positive, as 0 investors sold Salisbury Bancorp, Inc. shares while 4 reduced holdings. 26 funds opened positions while 53 raised stakes. New Mexico-based Hanseatic has invested 0% in RingCentral, Inc. Shares for $379,800 were sold by Shah Praful. (NYSE:RNG) or 3,000 shares. Goldman Sachs Gru Inc has invested 0% in RingCentral, Inc. RingCentral Inc has a 12 month low of $21.35 and a 12 month high of $52.60. (NYSE:RNG). Amer Natl Registered Inv Advisor invested 0.25% in RingCentral, Inc. Oakworth reported 0% stake. (NYSE:RNG). Bancorporation Of Montreal Can accumulated 478 shares. Columbus Circle Invsts invested in 548,808 shares or 0.39% of the stock. Us National Bank De stated it has 0% in RingCentral, Inc. (NYSE:RNG) for 4,877 shares. (NYSE:RNG). Nationwide Fund holds 146,145 shares or 0.02% of its portfolio. (NYSE:RNG) for 1,190 shares.

Campbell Newman Asset Management Inc increased its stake in Visa Inc. Another trade for 9,300 shares valued at $447,175 was sold by Sipes David. Zacks Investment Research upgraded shares of Ringcentral from a "sell" rating to a "hold" rating in a research note on Thursday, November 24th. Therefore 82% are positive. Bank of America upped their price objective on RingCentral from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, October 25th. (NYSE:V) on Tuesday, November 3 with "Outperform" rating. (NYSE:RNG) on Wednesday, August 16. The firm has "Neutral" rating by Robert W. Baird given on Friday, August 26. On Friday, June 30 the stock rating was maintained by Jefferies with "Buy". Oppenheimer maintained it with "Buy" rating and $4500 target in Thursday, August 3 report. Shah Praful also sold $476,502 worth of RingCentral, Inc. (NYSE:RNG) on Thursday, November 9 with "Hold" rating. (NYSE:RNG) on Thursday, August 3 with "Buy" rating. The rating was initiated by SunTrust on Monday, June 26 with "Buy". Nine analysts have provided estimates for RingCentral's earnings, with the highest sales estimate coming in at $137.58 million and the lowest estimate coming in at $136.06 million. (NYSE:RNG) to report $-0.08 EPS on February, 12.They anticipate $0.00 EPS change or 0.00 % from last quarter's $-0.08 EPS. Alta Park Capital LP now owns 157,000 shares of the company's stock valued at $3,096,000 after buying an additional 59,984 shares during the last quarter. After $-0.07 actual EPS reported by RingCentral, Inc. for the previous quarter, Wall Street now forecasts 14.29 % negative EPS growth. Williams R Neil sold $869,000 worth of stock or 22,000 shares. Dhruv Mitesh sold $124,110 worth of stock. (NYSE:RNG) was sold by Shmunis Vladimir. $337,896 worth of RingCentral, Inc. BlackRock Inc. now owns 4,272,844 shares of the software maker's stock worth $156,173,000 after purchasing an additional 445,306 shares during the period. (NYSE:RNG) for 7,277 shares. Atmel Corporation had 22 analyst reports since July 29, 2015 according to SRatingsIntel. William Blair maintained the shares of RNG in report on Monday, October 23 with "Buy" rating. FBR Capital downgraded it to "Mkt Perform" rating and $10.50 target in Monday, September 21 report. The firm has "Market Perform" rating by Wells Fargo given on Friday, December 18. The firm has "Strong Buy" rating given on Monday, September 28 by Raymond James. The firm has "Equal-Weight" rating given on Tuesday, January 19 by Morgan Stanley. The company was maintained on Thursday, August 3 by Northland Capital. The stock has "Outperform" rating by RBC Capital Markets on Tuesday, October 6.

Other hedge funds also recently modified their holdings of the company. Columbia Partners L L C Investment Management raised its stake in Ringcentral by 11.7% in the second quarter. First Merchants stated it has 0.12% in The Boeing Company (NYSE:BA). (NYSE:V). Condor Capital Mgmt holds 0.62% or 29,223 shares in its portfolio. 4,556 were reported by Bender Robert And Associates. Fishman Jay A Ltd Mi accumulated 130,267 shares or 2.8% of the stock.

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