Ringcentral, Inc. (NYSE:RNG) COO David Sipes sold 3,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $44.01, for a total transaction of $132,030.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

David Sipes also recently made the following trade(s):

  • On Wednesday, September 13th, David Sipes sold 7,800 shares of Ringcentral stock. The stock was sold at an average price of $42.11, for a total transaction of $328,458.00.
  • On Wednesday, August 23rd, David Sipes sold 13,800 shares of Ringcentral stock. The stock was sold at an average price of $38.64, for a total transaction of $533,232.00.

Ringcentral, Inc. (NYSE RNG) opened at 44.80 on Friday. Ringcentral, Inc. has a 1-year low of $19.35 and a 1-year high of $44.90. The firm’s market cap is $3.43 billion. The stock’s 50 day moving average is $41.06 and its 200-day moving average is $35.47.

Ringcentral (NYSE:RNG) last announced its quarterly earnings data on Wednesday, August 2nd. The software maker reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.01. Ringcentral had a negative return on equity of 19.59% and a negative net margin of 6.77%. The firm had revenue of $119.40 million during the quarter, compared to analyst estimates of $118.19 million. During the same period last year, the company posted $0.02 EPS. The business’s quarterly revenue was up 30.1% compared to the same quarter last year. Analysts forecast that Ringcentral, Inc. will post $0.17 EPS for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Aperio Group LLC boosted its position in Ringcentral by 1.5% during the 2nd quarter. Aperio Group LLC now owns 11,457 shares of the software maker’s stock worth $419,000 after acquiring an additional 169 shares during the period. Falcon Point Capital LLC boosted its position in Ringcentral by 3.2% during the 2nd quarter. Falcon Point Capital LLC now owns 9,356 shares of the software maker’s stock worth $342,000 after acquiring an additional 288 shares during the period. Ameritas Investment Partners Inc. boosted its position in Ringcentral by 8.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,480 shares of the software maker’s stock worth $200,000 after acquiring an additional 418 shares during the period. Suntrust Banks Inc. boosted its position in Ringcentral by 5.5% during the 2nd quarter. Suntrust Banks Inc. now owns 9,970 shares of the software maker’s stock worth $364,000 after acquiring an additional 523 shares during the period. Finally, Amalgamated Bank boosted its position in Ringcentral by 11.5% during the 2nd quarter. Amalgamated Bank now owns 8,006 shares of the software maker’s stock worth $293,000 after acquiring an additional 825 shares during the period. Hedge funds and other institutional investors own 75.22% of the company’s stock.

Several research firms recently commented on RNG. BidaskClub upgraded shares of Ringcentral from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Craig Hallum reiterated a “buy” rating and issued a $40.00 price objective (up from $35.00) on shares of Ringcentral in a research report on Thursday, August 3rd. Stephens reiterated an “overweight” rating and issued a $44.00 price objective on shares of Ringcentral in a research report on Sunday, June 25th. Northland Securities reiterated a “buy” rating and issued a $37.00 price objective on shares of Ringcentral in a research report on Friday, June 23rd. Finally, Oppenheimer Holdings, Inc. boosted their price objective on shares of Ringcentral from $33.00 to $45.00 in a research report on Thursday, July 13th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $40.15.

About Ringcentral

RingCentral, Inc is a provider of software-as-a-service (SaaS) solutions for businesses to support modern communications. The Company’s cloud-based business communications solutions provide a single user identity across multiple locations and devices, including smartphones, tablets, personal computers (PCs) and desk phones, and allow for communication across multiple channels, including high definition (HD) voice, video, short messaging service (SMS), messaging and collaboration, conferencing, online meetings, and fax.

Insider Buying and Selling by Quarter for Ringcentral (NYSE:RNG)

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