Kira Makagon Sells 16,988 Shares of RingCentral (NYSE:RNG) Stock

RingCentral, Inc. (NYSE:RNG) COO Kira Makagon sold 16,988 shares of RingCentral stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $42.54, for a total value of $722,669.52. Following the sale, the chief operating officer owned 212,724 shares in the company, valued at $9,049,278.96. This trade represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kira Makagon also recently made the following trade(s):

• On Monday, April 27th, Kira Makagon sold 5,870 shares of RingCentral stock. The stock was sold at an average price of $40.27, for a total value of $236,384.90.
• On Friday, February 27th, Kira Makagon sold 22,196 shares of RingCentral stock. The stock was sold at an average price of $35.15, for a total value of $780,189.40.

RingCentral Trading Up 3.8%

Shares of RingCentral stock opened at $43.45 on Friday. The business’s fifty day simple moving average is $40.06 and its 200 day simple moving average is $33.65. RingCentral, Inc. has a 12 month low of $23.59 and a 12 month high of $48.57. The firm has a market capitalization of $3.64 billion, a P/E ratio of 46.23, a price-to-earnings-growth ratio of 1.23 and a beta of 1.13.

RingCentral (NYSE:RNG) last posted its quarterly earnings results on Thursday, May 7th. The software maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. The company had revenue of $644.20 million for the quarter, compared to analysts’ expectations of $642.73 million. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. RingCentral’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.00 EPS. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. Analysts predict that RingCentral, Inc. will post 2.79 EPS for the current fiscal year.

RingCentral Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd will be paid a $0.075 dividend. The ex-dividend date is Tuesday, June 2nd. This represents a $0.30 annualized dividend and a dividend yield of 0.7%. RingCentral’s payout ratio is presently 31.91%.

Institutional Trading of RingCentral

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd bought a new stake in shares of RingCentral during the 3rd quarter valued at $843,000. Invenomic Capital Management LP raised its stake in shares of RingCentral by 3.9% during the 3rd quarter. Invenomic Capital Management LP now owns 1,482,447 shares of the software maker’s stock valued at $42,013,000 after purchasing an additional 55,088 shares during the period. Y Intercept Hong Kong Ltd raised its stake in shares of RingCentral by 544.8% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 91,918 shares of the software maker’s stock valued at $2,605,000 after purchasing an additional 77,663 shares during the period. Vanguard Group Inc. raised its stake in shares of RingCentral by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 11,823,636 shares of the software maker’s stock valued at $335,082,000 after purchasing an additional 129,444 shares during the period. Finally, Clark Capital Management Group Inc. raised its stake in shares of RingCentral by 103.3% during the 3rd quarter. Clark Capital Management Group Inc. now owns 303,455 shares of the software maker’s stock valued at $8,600,000 after purchasing an additional 154,188 shares during the period. 98.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RNG shares. Robert W. Baird set a $45.00 target price on RingCentral in a research note on Friday, May 8th. Weiss Ratings upgraded RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. Jefferies Financial Group restated a “hold” rating and issued a $40.00 target price on shares of RingCentral in a research note on Saturday, May 9th. Piper Sandler boosted their target price on RingCentral from $28.00 to $37.00 and gave the company a “neutral” rating in a research note on Monday, February 23rd. Finally, UBS Group set a $38.00 target price on RingCentral in a research note on Friday, February 20th. Three analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, RingCentral currently has a consensus rating of “Hold” and an average price target of $43.00.

About RingCentral

RingCentral, Inc is a leading provider of cloud-based business communications and collaboration solutions. The company’s flagship platform delivers unified communications as a service (UCaaS), integrating voice over IP (VoIP) phone systems, video conferencing, team messaging and SMS into a single, cloud-native application. In addition to its UCaaS offering, RingCentral provides contact center as a service (CCaaS) capabilities, enabling organizations to manage customer interactions across voice, email, chat and social channels from a centralized dashboard.

Founded in 1999 and headquartered in Belmont, California, RingCentral went public on the New York Stock Exchange under the ticker RNG in 2013.