Whale Rock Capital Management Llc Decreased Ringcentral Inc (NYSE:RNG) Stake By $12.45 Million

February 23, 2018 - By Henry Gaston

Investors sentiment decreased to 0.99 in Q3 2017. Its down 0.32, from 1.31 in 2017Q2. It is negative, as 18 investors sold RNG shares while 62 reduced holdings. 26 funds opened positions while 53 raised stakes. 55.54 million shares or 2.55% more from 54.16 million shares in 2017Q2 were reported. Financial Bank Of Montreal Can has 0% invested in RingCentral, Inc. (NYSE:RNG). Moreover, Blackrock has 0.01% invested in RingCentral, Inc. (NYSE:RNG) for 4.36 million shares. The California-based Capital Ww has invested 0.07% in RingCentral, Inc. (NYSE:RNG). Eam Invsts Limited Liability Co has 0.36% invested in RingCentral, Inc. (NYSE:RNG) for 64,656 shares. Atika Cap Management Ltd Liability Corp holds 1.73% or 144,000 shares in its portfolio. Falcon Point Cap Lc reported 8,862 shares stake. Rhumbline Advisers holds 71,314 shares or 0.01% of its portfolio. Goldman Sachs Grp stated it has 213,373 shares or 0% of all its holdings. Savings Bank Of Nova Scotia holds 0.01% or 21,761 shares. Rainier Inv Mngmt Lc reported 141,840 shares. The Pennsylvania-based Vanguard has invested 0.01% in RingCentral, Inc. (NYSE:RNG). Engineers Gate Manager Limited Partnership invested in 0.05% or 15,214 shares. Barclays Public Ltd Company reported 0% in RingCentral, Inc. (NYSE:RNG). Parametric Portfolio Limited invested in 0.01% or 262,072 shares. Cortina Asset Mgmt Llc reported 142,384 shares.

Since August 25, 2017, it had 0 insider buys, and 18 selling transactions for $12.92 million activity. Marlow John H sold $311,483 worth of stock. Shares for $337,896 were sold by Sipes David. Shah Praful had sold 10,000 shares worth $476,502. Shares for $2.29M were sold by Shmunis Vladimir.

Alex Sacerdote decreased its stake in Ringcentral Inc (NYSE:RNG) by 25.87% based on its latest 2017Q4 regulatory filing with the SEC. Whale Rock Capital Management Llc sold 259,425 shares as the company’s stock rose 34.13% with the market. The hedge fund run by Alex Sacerdote held 743,568 shares of the technology company at the end of 2017Q4, valued at $35.99 million, down from 1.00 million at the end of the previous reported quarter. Whale Rock Capital Management Llc who had been investing in Ringcentral Inc for a number of months, seems to be less bullish one the $4.90B market cap company. The stock increased 1.61% or $1 during the last trading session, reaching $63.3. About 464,241 shares traded. RingCentral, Inc. (NYSE:RNG) has risen 80.85% since February 23, 2017 and is uptrending. It has outperformed by 64.15% the S&P500.

Whale Rock Capital Management Llc, which manages about $1.16B and $2.16 billion US Long portfolio, upped its stake in Facebook Inc (NASDAQ:FB) by 129,794 shares to 879,392 shares, valued at $155.18 million in 2017Q4, according to the filing. It also increased its holding in Himax Technologies Inc (NASDAQ:HIMX) by 1.31 million shares in the quarter, for a total of 3.04M shares, and has risen its stake in Yy Inc (NASDAQ:YY).

“Based in Boston, Whale Rock Capital Management is run by Alex Sacerdote. Prior to Whale Rock Capita, he was employed at Fidelity Investments, Smith Barney, and Interactive Imaginations. He obtained a degree from Harvard Business School. Whale Rock Capital Management Llc is a Massachusetts-based hedge fund that was founded by Alex Sacerdote. It had more than $1.16 billion assets under management in March, 2014. Taken from Whale Rock Capital Management latest Adv, the fund reported to have 8 full and part-time employees. Among which 4 performing investment advisory and research functions. The hedge fund had between 1-10 clients.

RingCentral, Inc. (NYSE:RNG) Ratings Coverage

Among 18 analysts covering RingCentral (NYSE:RNG), 15 have Buy rating, 0 Sell and 3 Hold. Therefore 83% are positive. RingCentral had 60 analyst reports since July 21, 2015 according to SRatingsIntel. On Monday, May 29 the stock rating was maintained by Jefferies with “Buy”. Robert W. Baird maintained the stock with “Hold” rating in Thursday, November 9 report. The rating was maintained by Jefferies with “Buy” on Thursday, November 9. As per Tuesday, February 13, the company rating was maintained by Stephens. Northland Capital maintained the shares of RNG in report on Thursday, July 20 with “Buy” rating. Raymond James upgraded the shares of RNG in report on Friday, July 31 to “Strong Buy” rating. On Thursday, August 3 the stock rating was maintained by Craig Hallum with “Buy”. The stock of RingCentral, Inc. (NYSE:RNG) earned “Buy” rating by Bank of America on Tuesday, February 13. Robert W. Baird initiated it with “Neutral” rating and $24 target in Friday, August 26 report. The firm has “Outperform” rating given on Tuesday, May 23 by William Blair.

RingCentral, Inc. provides software-as-a-service solutions for business communications in the United States and internationally. The company has market cap of $4.90 billion. The company??s products include RingCentral Office, a multi-tenant, multi-location, enterprise-grade communications solution that enables employees to communicate through voice, text, team messaging and collaboration, and HD video and Web conferencing, including smartphones, tablets, PCs, and desk phones for businesses that require a communications solution; RingCentral Professional, an inbound call routing subscription with text and fax capabilities primarily for smaller businesses; and RingCentral Fax solution that provides Internet fax capabilities, which allow businesses to send and receive fax documents without the need for a fax machine. It currently has negative earnings. The Company’s products also comprise RingCentral Contact Center, which provides a cloud based contact center solution that delivers multi-channel capabilities; and RingCentral Glip, a team messaging and collaboration solution that allows a range of teams to stay connected through various modes of communication through an integration with RingCentral Office.

More recent RingCentral, Inc. (NYSE:RNG) news were published by: Nasdaq.com which released: “RingCentral Inc. (RNG) Has Jumped To A New High After Q4 Profit Beat” on February 13, 2018. Also Businesswire.com published the news titled: “Intelligence Partner Brings RingCentral Cloud Communications Solutions to …” on February 20, 2018. Investorplace.com‘s news article titled: “3 Stocks to Watch on Tuesday: Chegg Inc (CHGG), Dun & Bradstreet Corp (DNB …” with publication date: February 13, 2018 was also an interesting one.

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