Tarun Arora Sells 3,723 Shares of RingCentral (NYSE:RNG) Stock

RingCentral, Inc. (NYSE:RNG) CAO Tarun Arora sold 3,723 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $36.14, for a total transaction of $134,549.22. Following the sale, the chief accounting officer directly owned 84,332 shares in the company, valued at approximately $3,047,758.48. This represents a 4.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Tarun Arora also recently made the following trade(s):

• On Thursday, February 26th, Tarun Arora sold 773 shares of RingCentral stock. The shares were sold at an average price of $34.80, for a total value of $26,900.40.

RingCentral Stock Performance

NYSE RNG traded up $0.75 during trading hours on Tuesday, reaching $36.89. The stock had a trading volume of 2,718,638 shares, compared to its average volume of 4,196,684. RingCentral, Inc. has a 52-week low of $20.58 and a 52-week high of $40.64. The stock has a fifty day moving average of $29.27 and a 200 day moving average of $29.22. The stock has a market cap of $3.19 billion, a P/E ratio of 76.86, a price-to-earnings-growth ratio of 1.42 and a beta of 1.14.

RingCentral (NYSE:RNG) last issued its earnings results on Thursday, February 19th. The software maker reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. RingCentral had a net margin of 1.73% and a negative return on equity of 29.05%. The firm had revenue of $644.03 million during the quarter, compared to analysts’ expectations of $643.52 million. During the same quarter last year, the company posted $0.98 earnings per share. The firm’s revenue was up 4.8% compared to the same quarter last year. RingCentral has set its FY 2026 guidance at 4.760-4.970 EPS and its Q1 2026 guidance at 1.160-1.190 EPS. On average, equities research analysts forecast that RingCentral, Inc. will post 1.29 EPS for the current year.

RingCentral Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 9th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.30 dividend on an annualized basis and a yield of 0.8%.

Institutional Trading of RingCentral

Several hedge funds have recently made changes to their positions in RNG. Fort Washington Investment Advisors Inc. OH boosted its holdings in RingCentral by 22.9% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 1,224,090 shares of the software maker’s stock valued at $34,691,000 after purchasing an additional 228,202 shares during the period. Y Intercept Hong Kong Ltd raised its position in RingCentral by 544.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 91,918 shares of the software maker’s stock valued at $2,605,000 after purchasing an additional 77,663 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of RingCentral by 79.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 340,188 shares of the software maker’s stock valued at $9,610,000 after buying an additional 150,537 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of RingCentral by 29.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 599,629 shares of the software maker’s stock worth $16,999,000 after buying an additional 134,992 shares in the last quarter. Finally, Vise Technologies Inc. purchased a new stake in shares of RingCentral during the second quarter worth approximately $430,000. Hedge funds and other institutional investors own 98.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RNG shares. UBS Group set a $38.00 price target on shares of RingCentral in a research note on Friday, February 20th. Needham & Company LLC restated a “buy” rating and set a $36.00 price target on shares of RingCentral in a research report on Tuesday, November 4th. Piper Sandler lifted their price objective on RingCentral from $28.00 to $37.00 and gave the stock a “neutral” rating in a report on Monday, February 23rd. Mizuho increased their target price on RingCentral from $27.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, February 20th. Finally, Zacks Research downgraded RingCentral from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $34.04.

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.