Tarun Arora Sells 919 Shares of RingCentral (NYSE:RNG) Stock

RingCentral, Inc. (NYSE:RNG) CAO Tarun Arora sold 919 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $42.66, for a total transaction of $39,204.54. Following the sale, the chief accounting officer directly owned 71,715 shares in the company, valued at $3,059,361.90. This represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tarun Arora also recently made the following trade(s):

• On Tuesday, April 21st, Tarun Arora sold 953 shares of RingCentral stock. The stock was sold at an average price of $43.00, for a total transaction of $40,979.00.
• On Tuesday, March 10th, Tarun Arora sold 8,840 shares of RingCentral stock. The stock was sold at an average price of $40.69, for a total transaction of $359,699.60.
• On Tuesday, March 3rd, Tarun Arora sold 3,723 shares of RingCentral stock. The shares were sold at an average price of $36.14, for a total transaction of $134,549.22.

RingCentral Price Performance

RNG opened at $43.45 on Friday. RingCentral, Inc. has a one year low of $23.59 and a one year high of $48.57. The company’s 50 day simple moving average is $40.06 and its 200-day simple moving average is $33.65. The stock 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 released its quarterly earnings results on Thursday, May 7th. The software maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.17 by $0.03. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The business had revenue of $644.20 million for the quarter, compared to analysts’ expectations of $642.73 million. During the same period in the prior year, the firm earned $1.00 earnings per share. RingCentral’s revenue was up 5.3% compared to the same quarter last year. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. As a group, analysts anticipate that RingCentral, Inc. will post 2.79 EPS for the current year.

RingCentral Dividend Announcement

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

Analyst Upgrades and Downgrades

RNG has been the topic of several research analyst reports. Robert W. Baird set a $45.00 price target on shares of RingCentral in a research note on Friday, May 8th. Piper Sandler increased their price target on shares of RingCentral from $28.00 to $37.00 and gave the company a “neutral” rating in a research note on Monday, February 23rd. Rosenblatt Securities increased their price target on shares of RingCentral from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Morgan Stanley increased their price target on shares of RingCentral from $33.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $40.00 price target on shares of RingCentral in a research note on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.00.

Institutional Investors Weigh In On RingCentral

Hedge funds have recently bought and sold shares of the company. WealthCollab LLC raised its holdings in RingCentral by 59.7% in the first quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock worth $26,000 after purchasing an additional 259 shares during the period. Meeder Asset Management Inc. raised its holdings in RingCentral by 127.3% in the first quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock worth $27,000 after purchasing an additional 410 shares during the period. EverSource Wealth Advisors LLC raised its holdings in RingCentral by 269.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock worth $29,000 after purchasing an additional 738 shares during the period. Rockefeller Capital Management L.P. raised its holdings in RingCentral by 70.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock worth $30,000 after purchasing an additional 424 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in RingCentral in the third quarter worth $30,000. 98.61% of the stock is currently owned by institutional investors and hedge funds.

RingCentral Company Profile

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.