RingCentral Inc (NYSE:RNG) COO David Sipes sold 13,957 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $137.70, for a total transaction of $1,921,878.90. Following the transaction, the chief operating officer now directly owns 251,746 shares of the company’s stock, valued at $34,665,424.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

  • On Monday, September 9th, David Sipes sold 5,500 shares of RingCentral stock. The shares were sold at an average price of $130.26, for a total transaction of $716,430.00.
  • On Monday, July 15th, David Sipes sold 1,500 shares of RingCentral stock. The shares were sold at an average price of $124.04, for a total transaction of $186,060.00.
  • On Friday, July 12th, David Sipes sold 8,089 shares of RingCentral stock. The stock was sold at an average price of $122.90, for a total transaction of $994,138.10.
  • On Wednesday, July 10th, David Sipes sold 1,500 shares of RingCentral stock. The stock was sold at an average price of $124.00, for a total transaction of $186,000.00.
  • On Thursday, June 13th, David Sipes sold 8,089 shares of RingCentral stock. The stock was sold at an average price of $117.77, for a total transaction of $952,641.53.

RNG traded down $7.53 on Tuesday, reaching $124.06. The stock had a trading volume of 1,504,065 shares, compared to its average volume of 790,393. The business’s 50-day moving average price is $137.06 and its two-hundred day moving average price is $119.51. The company has a market cap of $11.25 billion, a P/E ratio of -3,101.50 and a beta of 0.87. RingCentral Inc has a 12-month low of $64.41 and a 12-month high of $146.38. The company has a current ratio of 2.99, a quick ratio of 2.99 and a debt-to-equity ratio of 1.13.

RingCentral (NYSE:RNG) last posted its earnings results on Monday, July 29th. The software maker reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.13. RingCentral had a negative net margin of 3.95% and a negative return on equity of 1.13%. The business had revenue of $215.20 million for the quarter, compared to analyst estimates of $204.70 million. During the same period in the prior year, the company posted $0.19 EPS. The company’s revenue for the quarter was up 33.8% on a year-over-year basis. As a group, analysts predict that RingCentral Inc will post -0.13 earnings per share for the current year.

A number of research analysts recently issued reports on RNG shares. Bank of America boosted their target price on shares of RingCentral from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Raymond James increased their price target on RingCentral from $140.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, July 30th. Craig Hallum lifted their price objective on RingCentral from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Jefferies Financial Group boosted their price objective on RingCentral from $140.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Zacks Investment Research upgraded RingCentral from a “hold” rating to a “buy” rating and set a $129.00 target price on the stock in a research note on Thursday, July 4th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. RingCentral presently has an average rating of “Buy” and a consensus price target of $135.94.

Institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank purchased a new position in RingCentral during the second quarter worth approximately $830,000. Treasurer of the State of North Carolina lifted its position in shares of RingCentral by 3.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 28,098 shares of the software maker’s stock valued at $3,229,000 after buying an additional 910 shares in the last quarter. Natixis acquired a new stake in RingCentral in the 2nd quarter valued at $9,006,000. NewSquare Capital LLC grew its stake in RingCentral by 63.9% in the 2nd quarter. NewSquare Capital LLC now owns 3,877 shares of the software maker’s stock valued at $446,000 after acquiring an additional 1,512 shares during the period. Finally, AJ Wealth Strategies LLC grew its stake in RingCentral by 6.8% in the 2nd quarter. AJ Wealth Strategies LLC now owns 3,238 shares of the software maker’s stock valued at $372,000 after acquiring an additional 206 shares during the period. Hedge funds and other institutional investors own 83.44% of the company’s stock.

About RingCentral

RingCentral, Inc provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect primarily in North America. The company's products include RingCentral Office, provides communication and collaboration across various modes, including high-definition voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax through smartphones, tablets, PCs, and desk phones; RingCentral Professional, a cloud based virtual telephone service for professionals, as well as provides inbound call answering and management services, and includes inbound local, long-distance, and toll-free minutes; and RingCentral Fax that provides online fax capabilities that allow businesses to send and receive fax documents without a fax machine.

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