RingCentral (NYSE:RNG) CFO Sells 1,688 Shares

RingCentral, Inc. (NYSE:RNG) CFO Vaibhav Agarwal sold 1,688 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $65.50, for a total value of $110,564.00. Following the sale, the chief financial officer owned 169,282 shares in the company, valued at approximately $11,087,971. This represents a 0.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Vaibhav Agarwal also recently made the following trade(s):

• On Tuesday, June 2nd, Vaibhav Agarwal sold 7,047 shares of RingCentral stock. The shares were sold at an average price of $46.17, for a total transaction of $325,359.99.
• On Thursday, May 21st, Vaibhav Agarwal sold 4,044 shares of RingCentral stock. The shares were sold at an average price of $42.06, for a total transaction of $170,090.64.

RingCentral Stock Performance

NYSE:RNG traded up $1.16 during mid-day trading on Tuesday, hitting $65.22. 1,475,742 shares of the stock were exchanged, compared to its average volume of 2,638,840. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 52.18, a price-to-earnings-growth ratio of 1.12 and a beta of 1.10. The firm’s 50-day simple moving average is $46.44 and its 200 day simple moving average is $40.81. RingCentral, Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $68.45.

RingCentral (NYSE:RNG) last posted its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.06. The firm had revenue of $657.01 million for the quarter, compared to analyst estimates of $650.53 million. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.The company’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the company earned $1.06 EPS. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. On average, analysts predict that RingCentral, Inc. will post 2.88 EPS for the current fiscal year.

RingCentral Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.8%. This is a boost from RingCentral’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, August 6th. RingCentral’s payout ratio is presently 40.00%.

Institutional Trading of RingCentral

A number of hedge funds have recently bought and sold shares of RNG. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of RingCentral during the 1st quarter worth $697,000. Robertson Stephens Wealth Management LLC increased its position in RingCentral by 124.7% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 90,311 shares of the software maker’s stock worth $2,608,000 after buying an additional 50,122 shares during the last quarter. LSV Asset Management increased its holdings in RingCentral by 142.4% in the 4th quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock worth $82,935,000 after acquiring an additional 1,686,900 shares during the last quarter. Jupiter Asset Management Ltd. raised its position in shares of RingCentral by 11.4% in the fourth quarter. Jupiter Asset Management Ltd. now owns 1,456,270 shares of the software maker’s stock valued at $42,057,000 after purchasing an additional 149,532 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in shares of RingCentral by 60.0% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 280,323 shares of the software maker’s stock valued at $8,096,000 after purchasing an additional 105,145 shares in the last quarter. 98.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on RNG shares. Piper Sandler increased their price target on shares of RingCentral from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Needham & Company LLC reiterated a “buy” rating on shares of RingCentral in a report on Monday, July 20th. Mizuho upped their target price on RingCentral from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Weiss Ratings reissued a “hold (c)” rating on shares of RingCentral in a research note on Friday, July 17th. Finally, Robert W. Baird set a $45.00 price objective on shares of RingCentral in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, RingCentral presently has an average rating of “Hold” and an average price target of $44.40.

RingCentral Company Profile

RingCentral, Inc is a leading provider of cloud-based business communications and collaboration solutions. The company’s flagship platform delivers unified communications as a service (UCaaS), integrating voice over IP (VoIP) phone systems, video conferencing, team messaging and SMS into a single, cloud-native application. In addition to its UCaaS offering, RingCentral provides contact center as a service (CCaaS) capabilities, enabling organizations to manage customer interactions across voice, email, chat and social channels from a centralized dashboard.

Founded in 1999 and headquartered in Belmont, California, RingCentral went public on the New York Stock Exchange under the ticker RNG in 2013.