Vladimir Shmunis Sells 27,018 Shares of Ringcentral (NYSE:RNG) Stock

Ringcentral, Inc. (NYSE:RNG) CEO Vladimir Shmunis sold 27,018 shares of the business’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $27.68, for a total value of $747,858.24. Following the sale, the chief executive officer directly owned 262,240 shares in the company, valued at $7,258,803.20. This trade represents a 9.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Vladimir Shmunis also recently made the following trade(s):

• On Friday, November 21st, Vladimir Shmunis sold 46,844 shares of Ringcentral stock. The shares were sold at an average price of $26.89, for a total value of $1,259,635.16.

Ringcentral Price Performance

RNG traded up $0.24 on Monday, reaching $27.53. 1,393,829 shares of the company traded hands, compared to its average volume of 1,493,781. The stock’s 50 day moving average price is $28.49 and its 200-day moving average price is $28.24. Ringcentral, Inc. has a 52-week low of $20.58 and a 52-week high of $42.19. The company has a market cap of $2.38 billion, a price-to-earnings ratio of -196.64, a PEG ratio of 1.33 and a beta of 1.33.

Ringcentral (NYSE:RNG) last announced its quarterly earnings results on Monday, November 3rd. The software maker reported $1.13 EPS for the quarter, beating the consensus estimate of $1.08 by $0.05. The business had revenue of $638.66 million during the quarter, compared to analysts’ expectations of $635.39 million. Ringcentral had a negative return on equity of 19.63% and a negative net margin of 0.50%.The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.95 EPS. Ringcentral has set its FY 2025 guidance at 4.290-4.330 EPS. Q4 2025 guidance at 1.120-1.150 EPS. As a group, equities research analysts forecast that Ringcentral, Inc. will post 1.29 earnings per share for the current fiscal year.

Institutional Trading of Ringcentral

Several hedge funds and other institutional investors have recently modified their holdings of RNG. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Ringcentral by 27.1% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 995,888 shares of the software maker’s stock worth $28,233,000 after buying an additional 212,146 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Ringcentral during the second quarter worth $404,000. Vise Technologies Inc. bought a new stake in Ringcentral in the second quarter valued at approximately $430,000. CSM Advisors LLC bought a new stake in Ringcentral in the 2nd quarter valued at $5,854,000. Finally, AlphaQuest LLC boosted its position in Ringcentral by 23.7% during the second quarter. AlphaQuest LLC now owns 43,752 shares of the software maker’s stock worth $1,240,000 after purchasing an additional 8,371 shares during the period. Institutional investors and hedge funds own 98.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on RNG. UBS Group cut their price target on Ringcentral from $33.00 to $32.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Morgan Stanley lifted their price target on shares of Ringcentral from $29.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 4th. Jefferies Financial Group reduced their price objective on shares of Ringcentral from $30.00 to $29.00 and set a “hold” rating for the company in a report on Wednesday, August 6th. Wells Fargo & Company assumed coverage on shares of Ringcentral in a research note on Tuesday, September 30th. They issued an “equal weight” rating and a $32.00 target price on the stock. Finally, Rosenblatt Securities restated a “buy” rating and set a $32.00 target price on shares of Ringcentral in a research report on Tuesday, November 4th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Ringcentral presently has an average rating of “Hold” and a consensus price target of $31.54.

Ringcentral Company Profile

RingCentral, Inc, together with its subsidiaries, provides cloud communications, video meetings, collaboration, and contact center software-as-a-service solutions worldwide. The company’s products include RingCentral Message Video Phone that provides a unified experience for communication and collaboration across multiple modes, including HD voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax; RingCentral Contact Center, a collaborative contact center solution that delivers AI-powered omnichannel and workforce engagement solutions with integrated RingCentral MVP; and RingCX, an AI-powered contact center that a native delivers omnichannel experience.