RingCentral Inc (RNG) COO David Sipes Sells 9,300 Shares
RingCentral Inc (NYSE:RNG) COO David Sipes sold 9,300 shares of RingCentral stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $48.86, for a total transaction of $454,398.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
David Sipes also recently made the following trade(s):
- On Wednesday, December 13th, David Sipes sold 9,300 shares of RingCentral stock. The shares were sold at an average price of $48.08, for a total transaction of $447,144.00.
- On Tuesday, November 28th, David Sipes sold 15,270 shares of RingCentral stock. The shares were sold at an average price of $49.06, for a total transaction of $749,146.20.
- On Monday, October 16th, David Sipes sold 1,500 shares of RingCentral stock. The shares were sold at an average price of $44.00, for a total transaction of $66,000.00.
Shares of RingCentral Inc (RNG) traded up $2.30 on Friday, reaching $51.60. 653,300 shares of the company’s stock were exchanged, compared to its average volume of 426,013. The firm has a market capitalization of $4,050.00, a PE ratio of -143.33 and a beta of 0.80. RingCentral Inc has a one year low of $21.35 and a one year high of $52.00.
RingCentral (NYSE:RNG) last announced its earnings results on Wednesday, November 8th. The software maker reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $129.76 million during the quarter, compared to analysts’ expectations of $126.06 million. RingCentral had a negative net margin of 5.80% and a negative return on equity of 17.97%. The firm’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.03 earnings per share. sell-side analysts forecast that RingCentral Inc will post -0.33 EPS for the current year.
Several analysts recently commented on the stock. JPMorgan Chase & Co. cut shares of RingCentral from an “overweight” rating to a “neutral” rating and set a $52.00 price objective for the company. in a research note on Tuesday, December 12th. Oppenheimer raised their price objective on shares of RingCentral from $50.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, December 6th. Craig Hallum reiterated a “buy” rating and issued a $50.00 price objective (up previously from $40.00) on shares of RingCentral in a research note on Thursday, November 9th. Northland Securities reiterated a “buy” rating and issued a $46.00 price objective on shares of RingCentral in a research note on Friday, November 10th. Finally, Jefferies Group reiterated a “buy” rating and issued a $48.00 price objective on shares of RingCentral in a research note on Thursday, October 19th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $45.14.
Institutional investors and hedge funds have recently made changes to their positions in the business. Crow Point Partners LLC acquired a new position in RingCentral during the fourth quarter worth about $116,000. Ameritas Investment Partners Inc. grew its holdings in shares of RingCentral by 8.3% during the second quarter. Ameritas Investment Partners Inc. now owns 5,480 shares of the software maker’s stock worth $200,000 after buying an additional 418 shares in the last quarter. ProShare Advisors LLC purchased a new stake in shares of RingCentral during the second quarter worth about $202,000. Virtu KCG Holdings LLC purchased a new stake in shares of RingCentral during the second quarter worth about $248,000. Finally, BT Investment Management Ltd purchased a new stake in shares of RingCentral during the second quarter worth about $272,000. Institutional investors own 76.29% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This news story was originally posted by Watch List News and is owned by of Watch List News. If you are viewing this news story on another website, it was illegally stolen and republished in violation of US & international copyright & trademark legislation. The original version of this news story can be viewed at https://www.watchlistnews.com/ringcentral-inc-rng-coo-david-sipes-sells-9300-shares/1804442.html.
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.
Receive News & Ratings for RingCentral Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RingCentral and related companies with Analyst Ratings Network's FREE daily email newsletter.