CIBC World Markets Inc. Invests $215,000 in RingCentral Inc (RNG) Stock
CIBC World Markets Inc. purchased a new position in RingCentral Inc (NYSE:RNG) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 4,450 shares of the software maker’s stock, valued at approximately $215,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in RingCentral by 2.9% in the second quarter. Vanguard Group Inc. now owns 5,335,616 shares of the software maker’s stock worth $195,017,000 after acquiring an additional 151,567 shares in the last quarter. State Street Corp grew its position in RingCentral by 7.3% in the second quarter. State Street Corp now owns 1,253,662 shares of the software maker’s stock worth $45,824,000 after acquiring an additional 85,404 shares in the last quarter. JPMorgan Chase & Co. grew its position in RingCentral by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 1,216,115 shares of the software maker’s stock worth $48,828,000 after acquiring an additional 27,040 shares in the last quarter. Northern Trust Corp grew its position in RingCentral by 11.8% in the second quarter. Northern Trust Corp now owns 797,090 shares of the software maker’s stock worth $29,134,000 after acquiring an additional 83,918 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in RingCentral by 3.4% in the third quarter. Russell Investments Group Ltd. now owns 469,410 shares of the software maker’s stock worth $19,597,000 after acquiring an additional 15,637 shares in the last quarter. Institutional investors own 76.11% of the company’s stock.
Shares of RingCentral Inc (NYSE RNG) opened at $52.05 on Monday. The stock has a market cap of $4,026.12, a PE ratio of -148.71 and a beta of 0.87. RingCentral Inc has a 12 month low of $22.35 and a 12 month high of $56.15.
In other RingCentral news, CEO Vladimir Shmunis sold 6,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $48.23, for a total value of $289,380.00. Following the completion of the sale, the chief executive officer now owns 355,041 shares of the company’s stock, valued at $17,123,627.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO John H. Marlow sold 1,945 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $48.65, for a total transaction of $94,624.25. Following the completion of the sale, the chief accounting officer now directly owns 120,373 shares of the company’s stock, valued at approximately $5,856,146.45. The disclosure for this sale can be found here. In the last three months, insiders sold 230,934 shares of company stock valued at $11,112,262. 14.53% of the stock is owned by insiders.
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RingCentral Company Profile
RingCentral, Inc is a provider of software-as-a-service (SaaS) solutions for businesses to support modern communications. The Company’s cloud-based business communications solutions provide a single user identity across multiple locations and devices, including smartphones, tablets, personal computers (PCs) and desk phones, and allow for communication across multiple channels, including high definition (HD) voice, video, short messaging service (SMS), messaging and collaboration, conferencing, online meetings, and fax.
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