Ringcentral, Inc. (NYSE:RNG) CEO Vladimir Shmunis sold 101,453 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $48.34, for a total value of $4,904,238.02. Following the transaction, the chief executive officer now directly owns 355,041 shares of the company’s stock, valued at $17,162,681.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Vladimir Shmunis also recently made the following trade(s):

  • On Monday, November 20th, Vladimir Shmunis sold 6,000 shares of Ringcentral stock. The stock was sold at an average price of $48.23, for a total value of $289,380.00.
  • On Wednesday, October 11th, Vladimir Shmunis sold 6,000 shares of Ringcentral stock. The stock was sold at an average price of $43.31, for a total value of $259,860.00.
  • On Tuesday, October 10th, Vladimir Shmunis sold 7,808 shares of Ringcentral stock. The stock was sold at an average price of $43.65, for a total value of $340,819.20.
  • On Thursday, October 12th, Vladimir Shmunis sold 73,000 shares of Ringcentral stock. The stock was sold at an average price of $43.43, for a total value of $3,170,390.00.
  • On Tuesday, September 12th, Vladimir Shmunis sold 6,000 shares of Ringcentral stock. The stock was sold at an average price of $42.37, for a total value of $254,220.00.
  • On Monday, September 11th, Vladimir Shmunis sold 6,000 shares of Ringcentral stock. The stock was sold at an average price of $42.30, for a total value of $253,800.00.
  • On Wednesday, September 13th, Vladimir Shmunis sold 73,000 shares of Ringcentral stock. The stock was sold at an average price of $42.25, for a total value of $3,084,250.00.

Shares of Ringcentral, Inc. (RNG) traded down $0.40 during mid-day trading on Wednesday, hitting $48.30. The company had a trading volume of 337,661 shares, compared to its average volume of 668,362. Ringcentral, Inc. has a one year low of $19.95 and a one year high of $49.10.

Ringcentral (NYSE:RNG) last released its quarterly earnings results on Wednesday, November 8th. The software maker reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.02. Ringcentral had a negative return on equity of 17.97% and a negative net margin of 5.80%. The business had revenue of $129.76 million for the quarter, compared to the consensus estimate of $126.06 million. During the same quarter last year, the business posted $0.03 earnings per share. The company’s revenue for the quarter was up 34.0% on a year-over-year basis. analysts expect that Ringcentral, Inc. will post -0.33 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RNG. BlackRock Inc. raised its position in Ringcentral by 64,315.0% during the first quarter. BlackRock Inc. now owns 3,827,538 shares of the software maker’s stock valued at $108,320,000 after purchasing an additional 3,821,596 shares in the last quarter. Capital World Investors raised its position in Ringcentral by 23.9% during the second quarter. Capital World Investors now owns 6,599,000 shares of the software maker’s stock valued at $241,193,000 after purchasing an additional 1,275,000 shares in the last quarter. Whale Rock Capital Management LLC purchased a new stake in Ringcentral during the second quarter valued at about $39,450,000. FMR LLC raised its position in Ringcentral by 40.1% during the second quarter. FMR LLC now owns 2,905,422 shares of the software maker’s stock valued at $106,193,000 after purchasing an additional 832,314 shares in the last quarter. Finally, Southpoint Capital Advisors LP purchased a new stake in Ringcentral during the second quarter valued at about $18,275,000. Institutional investors and hedge funds own 76.88% of the company’s stock.

Several research firms have issued reports on RNG. Zacks Investment Research downgraded Ringcentral from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Craig Hallum restated a “buy” rating and set a $50.00 target price (up previously from $40.00) on shares of Ringcentral in a research report on Thursday, November 9th. Northland Securities restated a “buy” rating and set a $46.00 target price on shares of Ringcentral in a research report on Friday, November 10th. Oppenheimer Holdings, Inc. increased their target price on Ringcentral from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Finally, Bank of America Corporation increased their target price on Ringcentral from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $44.15.

Ringcentral Company Profile

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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