Vladimir Shmunis Sells 46,844 Shares of Ringcentral (NYSE:RNG) Stock

Ringcentral, Inc. (NYSE:RNG) CEO Vladimir Shmunis sold 46,844 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $26.89, for a total transaction of $1,259,635.16. Following the sale, the chief executive officer directly owned 317,139 shares of the company’s stock, valued at $8,527,867.71. This represents a 12.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, November 24th, Vladimir Shmunis sold 27,018 shares of Ringcentral stock. The stock was sold at an average price of $27.68, for a total transaction of $747,858.24.

Ringcentral Trading Up 0.9%

Shares of Ringcentral stock traded up $0.24 on Monday, hitting $27.53. The stock had a trading volume of 1,393,829 shares, compared to its average volume of 1,493,781. The company’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 stock has a market cap of $2.38 billion, a price-to-earnings ratio of -196.64, a P/E/G ratio of 1.33 and a beta of 1.33.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Capital World Investors boosted its stake in Ringcentral by 20.9% in the 3rd quarter. Capital World Investors now owns 11,735,991 shares of the software maker’s stock valued at $332,598,000 after buying an additional 2,031,861 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in Ringcentral during the third quarter worth about $53,365,000. Contour Asset Management LLC bought a new stake in shares of Ringcentral during the first quarter worth $45,650,000. LSV Asset Management acquired a new stake in Ringcentral in the 3rd quarter valued at about $33,577,000. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Ringcentral by 354.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 870,666 shares of the software maker’s stock valued at $21,558,000 after buying an additional 679,211 shares during the period. Institutional investors and hedge funds own 98.61% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on RNG shares. Oppenheimer raised Ringcentral from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a research note on Wednesday, August 6th. Rosenblatt Securities restated a “buy” rating and set a $32.00 price target on shares of Ringcentral in a report on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Ringcentral in a research report on Wednesday, November 19th. Jefferies Financial Group decreased their target price on Ringcentral from $30.00 to $29.00 and set a “hold” rating for the company in a research report on Wednesday, August 6th. Finally, UBS Group dropped their price target on Ringcentral from $33.00 to $32.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock 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.