RingCentral (NYSE:RNG) CFO Vaibhav Agarwal Sells 2,220 Shares

RingCentral, Inc. (NYSE:RNG) CFO Vaibhav Agarwal sold 2,220 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $40.62, for a total value of $90,176.40. Following the sale, the chief financial officer owned 140,416 shares of the company’s stock, valued at approximately $5,703,697.92. The trade was a 1.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 Monday, March 2nd, Vaibhav Agarwal sold 18,680 shares of RingCentral stock. The stock was sold at an average price of $36.33, for a total value of $678,644.40.
• On Monday, February 23rd, Vaibhav Agarwal sold 10,744 shares of RingCentral stock. The stock was sold at an average price of $35.50, for a total value of $381,412.00.

RingCentral Stock Up 4.7%

RNG stock opened at $42.60 on Wednesday. The company has a market cap of $3.58 billion, a P/E ratio of 45.32, a PEG ratio of 1.24 and a beta of 1.13. RingCentral, Inc. has a twelve month low of $23.59 and a twelve month high of $48.57. The business has a fifty day moving average of $39.41 and a 200-day moving average of $32.87.

RingCentral (NYSE:RNG) last released its earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. The company had revenue of $644.20 million during the quarter, compared to the consensus estimate of $642.73 million. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.00 earnings per share. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. As a group, equities research analysts anticipate that RingCentral, Inc. will post 2.69 earnings per share for the current fiscal year.

RingCentral Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, June 2nd. RingCentral’s dividend payout ratio is currently 31.91%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RNG shares. Jefferies Financial Group reiterated a “hold” rating and issued a $40.00 price objective on shares of RingCentral in a report on Saturday, May 9th. Needham & Company LLC increased their target price on shares of RingCentral from $36.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Mizuho increased their target price on shares of RingCentral from $27.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Zacks Research upgraded shares of RingCentral from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Finally, Robert W. Baird set a $45.00 price target on RingCentral in a report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, RingCentral has a consensus rating of “Hold” and an average price target of $43.00.

Institutional Investors Weigh In On RingCentral

A number of hedge funds have recently modified their holdings of the business. WealthCollab LLC raised its position in shares of RingCentral by 59.7% during the first quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock worth $26,000 after purchasing an additional 259 shares during the period. Pictet Asset Management Holding SA raised its position in shares of RingCentral by 3.1% during the first quarter. Pictet Asset Management Holding SA now owns 11,883 shares of the software maker’s stock worth $442,000 after purchasing an additional 362 shares during the period. Rothschild Investment LLC raised its position in shares of RingCentral by 15.8% during the fourth quarter. Rothschild Investment LLC now owns 2,681 shares of the software maker’s stock worth $77,000 after purchasing an additional 366 shares during the period. Sovereign Financial Group Inc. raised its position in shares of RingCentral by 4.2% during the first quarter. Sovereign Financial Group Inc. now owns 10,170 shares of the software maker’s stock worth $378,000 after purchasing an additional 409 shares during the period. Finally, Meeder Asset Management Inc. raised its position in shares of RingCentral by 127.3% during the first quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock worth $27,000 after purchasing an additional 410 shares during the period. Institutional investors and hedge funds own 98.61% of the company’s stock.

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.