Vaibhav Agarwal Sells 4,044 Shares of RingCentral (NYSE:RNG) Stock

RingCentral, Inc. (NYSE:RNG) CFO Vaibhav Agarwal sold 4,044 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $42.06, for a total transaction of $170,090.64. Following the completion of the transaction, the chief financial officer directly owned 132,181 shares of the company’s stock, valued at approximately $5,559,532.86. The trade was a 2.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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, May 18th, Vaibhav Agarwal sold 2,220 shares of RingCentral stock. The shares were sold at an average price of $40.62, for a total transaction of $90,176.40.
• On Monday, March 2nd, Vaibhav Agarwal sold 18,680 shares of RingCentral stock. The shares were sold at an average price of $36.33, for a total transaction of $678,644.40.
• On Monday, February 23rd, Vaibhav Agarwal sold 10,744 shares of RingCentral stock. The shares were sold at an average price of $35.50, for a total transaction of $381,412.00.

RingCentral Trading Up 3.2%

Shares of NYSE:RNG opened at $43.57 on Friday. RingCentral, Inc. has a 12 month low of $23.59 and a 12 month high of $48.57. The company has a 50-day moving average price of $39.56 and a 200 day moving average price of $33.13. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 46.35, a PEG ratio of 1.28 and a beta of 1.13.

RingCentral (NYSE:RNG) last posted its quarterly earnings data 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. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The company had revenue of $644.20 million for the quarter, compared to analyst estimates of $642.73 million. During the same period in the prior year, the company posted $1.00 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. 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 analysts forecast that RingCentral, Inc. will post 2.79 EPS for the current year.

RingCentral Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RNG shares. Zacks Research raised shares of RingCentral from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Oppenheimer reissued an “outperform” rating and issued a $50.00 price objective on shares of RingCentral in a research report on Friday, May 8th. Jefferies Financial Group reissued a “hold” rating and issued a $40.00 price objective on shares of RingCentral in a research report on Saturday, May 9th. Needham & Company LLC increased their price objective on shares of RingCentral from $36.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Finally, Morgan Stanley increased their price objective on shares of RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $43.00.

Hedge Funds Weigh In On RingCentral

Hedge funds and other institutional investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd acquired a new position in shares of RingCentral during the third quarter worth $843,000. Invenomic Capital Management LP boosted its position in shares of RingCentral by 3.9% in the 3rd quarter. Invenomic Capital Management LP now owns 1,482,447 shares of the software maker’s stock worth $42,013,000 after purchasing an additional 55,088 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of RingCentral by 544.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 91,918 shares of the software maker’s stock worth $2,605,000 after purchasing an additional 77,663 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of RingCentral by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 11,823,636 shares of the software maker’s stock worth $335,082,000 after purchasing an additional 129,444 shares in the last quarter. Finally, Clark Capital Management Group Inc. boosted its position in shares of RingCentral by 103.3% in the 3rd quarter. Clark Capital Management Group Inc. now owns 303,455 shares of the software maker’s stock worth $8,600,000 after purchasing an additional 154,188 shares in the last quarter. 98.61% of the stock is currently owned by institutional investors.

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.