RingCentral Inc (NYSE:RNG) CFO Mitesh Dhruv sold 1,634 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $83.89, for a total value of $137,076.26. Following the sale, the chief financial officer now directly owns 148,178 shares of the company’s stock, valued at $12,430,652.42. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Mitesh Dhruv also recently made the following trade(s):

  • On Thursday, November 29th, Mitesh Dhruv sold 2,471 shares of RingCentral stock. The stock was sold at an average price of $79.23, for a total value of $195,777.33.
  • On Friday, October 5th, Mitesh Dhruv sold 1,264 shares of RingCentral stock. The stock was sold at an average price of $84.33, for a total value of $106,593.12.
  • On Monday, October 8th, Mitesh Dhruv sold 2,278 shares of RingCentral stock. The stock was sold at an average price of $82.67, for a total value of $188,322.26.
  • On Friday, September 7th, Mitesh Dhruv sold 1,264 shares of RingCentral stock. The stock was sold at an average price of $94.60, for a total value of $119,574.40.
  • On Monday, September 10th, Mitesh Dhruv sold 2,528 shares of RingCentral stock. The stock was sold at an average price of $95.02, for a total value of $240,210.56.

RNG opened at $80.39 on Thursday. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of -229.69 and a beta of 1.12. RingCentral Inc has a 52 week low of $43.85 and a 52 week high of $98.15. The company has a current ratio of 4.07, a quick ratio of 4.07 and a debt-to-equity ratio of 1.22.

RingCentral (NYSE:RNG) last released its quarterly earnings data on Monday, November 5th. The software maker reported $0.19 EPS for the quarter, topping the consensus estimate of $0.16 by $0.03. The company had revenue of $173.83 million for the quarter, compared to the consensus estimate of $166.70 million. RingCentral had a negative return on equity of 3.64% and a negative net margin of 4.25%. RingCentral’s quarterly revenue was up 33.4% on a year-over-year basis. During the same period last year, the business posted $0.06 EPS. On average, equities research analysts forecast that RingCentral Inc will post -0.09 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale increased its holdings in shares of RingCentral by 75.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,401 shares of the software maker’s stock valued at $130,000 after acquiring an additional 601 shares during the period. Harvest Fund Management Co. Ltd increased its holdings in shares of RingCentral by 287.0% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,513 shares of the software maker’s stock valued at $141,000 after acquiring an additional 1,122 shares during the period. US Bancorp DE increased its holdings in shares of RingCentral by 141.7% in the 2nd quarter. US Bancorp DE now owns 1,745 shares of the software maker’s stock valued at $123,000 after acquiring an additional 1,023 shares during the period. Oakbrook Investments LLC purchased a new position in shares of RingCentral in the 3rd quarter valued at $205,000. Finally, Ibex Investors LLC purchased a new position in shares of RingCentral in the 3rd quarter valued at $215,000. Institutional investors own 78.01% of the company’s stock.

A number of equities research analysts recently issued reports on the company. Robert W. Baird raised RingCentral from a “neutral” rating to an “outperform” rating and set a $100.00 price target for the company in a research note on Monday, November 19th. TheStreet lowered RingCentral from a “c” rating to a “d+” rating in a research note on Tuesday, November 6th. Bank of America decreased their price target on RingCentral from $100.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, November 6th. Rosenblatt Securities assumed coverage on RingCentral in a report on Friday, September 7th. They set a “buy” rating and a $105.00 price objective on the stock. Finally, Deutsche Bank assumed coverage on RingCentral in a report on Monday, October 8th. They set a “buy” rating and a $105.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. RingCentral has a consensus rating of “Buy” and a consensus target price of $90.47.

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About RingCentral

RingCentral, Inc provides software-as-a-service solutions for business communications and collaboration primarily in the United States. The company's products include RingCentral Office, a multi-tenant, multi-location, and enterprise-grade communications and collaboration solution that enables employees to communicate through voice, text, team messaging and collaboration, and HD video and Web conferencing through smartphones, tablets, PCs, and desk phones for businesses, which require a communications solution; RingCentral Professional, an inbound call routing subscription with additional text and fax capabilities primarily for smaller businesses; and RingCentral Fax solution that offers Internet fax capabilities, which allow businesses to send and receive fax documents without the need for a fax machine.

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

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