RingCentral (NYSE:RNG) CAO Tarun Arora Sells 675 Shares

RingCentral, Inc. (NYSE:RNG) CAO Tarun Arora sold 675 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $67.45, for a total value of $45,528.75. Following the transaction, the chief accounting officer directly owned 79,709 shares of the company’s stock, valued at $5,376,372.05. This represents a 0.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 Friday, August 21st, Tarun Arora sold 1,876 shares of RingCentral stock. The stock was sold at an average price of $65.26, for a total transaction of $122,427.76.
• On Friday, May 29th, Tarun Arora sold 3,615 shares of RingCentral stock. The shares were sold at an average price of $43.00, for a total transaction of $155,445.00.

RingCentral Stock Performance

Shares of NYSE:RNG traded down $1.59 during trading hours on Tuesday, hitting $65.49. 1,488,592 shares of the company’s stock traded hands, compared to its average volume of 1,830,626. The company’s fifty day simple moving average is $49.23 and its two-hundred day simple moving average is $42.23. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 52.40, a price-to-earnings-growth ratio of 1.16 and a beta of 1.10. RingCentral, Inc. has a 52 week low of $24.14 and a 52 week high of $68.45.

RingCentral (NYSE:RNG) last released its earnings results on Thursday, July 23rd. The software maker reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.06. RingCentral had a net margin of 4.27% and a negative return on equity of 34.49%. The business had revenue of $657.01 million for the quarter, compared to the consensus estimate of $650.53 million. During the same period in the previous year, the firm earned $1.06 EPS. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. On average, analysts anticipate that RingCentral, Inc. will post 2.88 EPS for the current fiscal year.

RingCentral Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Thursday, August 6th. This is a positive change from RingCentral’s previous quarterly dividend of $0.07. RingCentral’s payout ratio is presently 40.00%.

Wall Street Analyst Weigh In

RNG has been the topic of several recent analyst reports. Piper Sandler boosted their price objective on RingCentral from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Robert W. Baird set a $45.00 price target on shares of RingCentral in a report on Friday, May 8th. Weiss Ratings restated a “hold (c)” rating on shares of RingCentral in a research report on Friday, July 17th. Mizuho lifted their price objective on shares of RingCentral from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Finally, Oppenheimer reissued an “outperform” rating and set a $50.00 target price on shares of RingCentral in a research note on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $46.60.

Institutional Trading of RingCentral

A number of hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC increased its stake in RingCentral by 9.0% in the 1st quarter. Empowered Funds LLC now owns 11,417 shares of the software maker’s stock valued at $283,000 after buying an additional 940 shares during the period. Woodline Partners LP boosted its stake in shares of RingCentral by 14.8% during the 1st quarter. Woodline Partners LP now owns 159,474 shares of the software maker’s stock valued at $3,949,000 after buying an additional 20,518 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of RingCentral by 2.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,190 shares of the software maker’s stock valued at $6,467,000 after acquiring an additional 5,398 shares in the last quarter. Creative Planning acquired a new position in shares of RingCentral in the second quarter worth $274,000. Finally, Invesco Ltd. raised its holdings in shares of RingCentral by 10.8% during the second quarter. Invesco Ltd. now owns 137,935 shares of the software maker’s stock worth $3,910,000 after acquiring an additional 13,446 shares in the last quarter. 98.61% of the stock is owned by hedge funds and other institutional investors.

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.