Institutional Adjustments for RingCentral (NYSE:RNG)

January 21, 2025 08:55 AM PST | By Team Kalkine Media

Institutional Adjustments for RingCentral (NYSE:RNG) — Image source: Shutterstock

Headlines

Institutional Interest in NYSE:RNG Highlights Ongoing Activity
Wedge Capital Adjusts Position in RingCentral Holdings
Notable Changes Among RingCentral Stakeholders

Wedge Capital Management L.L.P. NC recently adjusted its stake in RingCentral, Inc. (NYSE:RNG), reflecting an 11.8% reduction in holdings during the fourth quarter. This change was noted in the firm's latest filing with the Securities and Exchange Commission (SEC). Following this adjustment, Wedge Capital held 57,870 shares of RingCentral.

The software company has seen additional shifts in institutional holdings. Commonwealth Equity Services LLC expanded its position in RingCentral significantly, increasing its holdings by 19.5%. Similarly, American Century Companies Inc. made a notable move, more than doubling its position in RingCentral. Both organizations demonstrated interest in strengthening their presence in the company during the second quarter.

Other institutional investors have also shown activity. Dimensional Fund Advisors LP entered a new position in RingCentral, further diversifying its portfolio. Additionally, Amalgamated Bank significantly increased its stake in the software company. These moves highlight the active interest in RingCentral among various financial institutions.

Hsbc Holdings PLC also increased its stake in RingCentral, adding to the collective institutional activity around the company. The recent adjustments from these key stakeholders underline continued interest in the software maker's potential within the broader enterprise communication sector.

Institutional and hedge fund ownership remains a dominant aspect of RingCentral’s shareholder base, holding the majority of its outstanding shares. These entities play a crucial role in shaping the company's strategic direction and market presence.

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