Ringcentral, Inc. (NYSE:RNG) CEO Vladimir Shmunis sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $43.31, for a total value of $259,860.00. Following the sale, the chief executive officer now owns 355,041 shares of the company’s stock, valued at $15,376,825.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Tuesday, October 10th, Vladimir Shmunis sold 7,808 shares of Ringcentral stock. The stock was sold at an average price of $43.65, for a total value of $340,819.20.
  • On Thursday, October 12th, Vladimir Shmunis sold 73,000 shares of Ringcentral stock. The stock was sold at an average price of $43.43, for a total value of $3,170,390.00.
  • On Tuesday, September 12th, Vladimir Shmunis sold 6,000 shares of Ringcentral stock. The stock was sold at an average price of $42.37, for a total value of $254,220.00.
  • On Monday, September 11th, Vladimir Shmunis sold 6,000 shares of Ringcentral stock. The stock was sold at an average price of $42.30, for a total value of $253,800.00.
  • On Wednesday, September 13th, Vladimir Shmunis sold 73,000 shares of Ringcentral stock. The stock was sold at an average price of $42.25, for a total value of $3,084,250.00.
  • On Wednesday, August 23rd, Vladimir Shmunis sold 101,452 shares of Ringcentral stock. The stock was sold at an average price of $38.20, for a total value of $3,875,466.40.

Shares of Ringcentral, Inc. (NYSE:RNG) opened at 43.80 on Friday. Ringcentral, Inc. has a 12-month low of $19.35 and a 12-month high of $44.95. The company has a 50 day moving average price of $41.91 and a 200 day moving average price of $36.13. The stock’s market cap is $3.36 billion.

Ringcentral (NYSE:RNG) last issued its earnings results on Wednesday, August 2nd. The software maker reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.01. Ringcentral had a negative return on equity of 19.59% and a negative net margin of 6.77%. The firm had revenue of $119.40 million for the quarter, compared to analysts’ expectations of $118.19 million. During the same quarter last year, the firm earned $0.02 earnings per share. The firm’s revenue for the quarter was up 30.1% compared to the same quarter last year. Analysts anticipate that Ringcentral, Inc. will post $0.17 earnings per share for the current fiscal year.

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Several analysts recently commented on the company. Zacks Investment Research upgraded Ringcentral from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Wednesday, October 4th. Northland Securities reissued an “outperform” rating and set a $46.00 price objective (up previously from $43.00) on shares of Ringcentral in a research note on Tuesday, October 3rd. BidaskClub raised Ringcentral from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th. Robert W. Baird lowered Ringcentral from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $38.80 to $41.00 in a research note on Thursday, August 10th. Finally, Dougherty & Co reissued a “buy” rating and set a $40.00 price objective (up previously from $36.00) on shares of Ringcentral in a research note on Wednesday, August 9th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Ringcentral presently has an average rating of “Buy” and a consensus price target of $40.15.

A number of institutional investors have recently modified their holdings of RNG. Sei Investments Co. lifted its stake in shares of Ringcentral by 66.1% during the second quarter. Sei Investments Co. now owns 31,255 shares of the software maker’s stock worth $1,142,000 after purchasing an additional 12,442 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Ringcentral by 9.4% during the first quarter. Vanguard Group Inc. now owns 5,184,049 shares of the software maker’s stock worth $146,709,000 after purchasing an additional 446,995 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Ringcentral during the second quarter worth about $1,173,000. Federated Investors Inc. PA lifted its stake in shares of Ringcentral by 58.3% during the second quarter. Federated Investors Inc. PA now owns 164,268 shares of the software maker’s stock worth $6,004,000 after purchasing an additional 60,468 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Ringcentral by 2.4% during the first quarter. Bank of New York Mellon Corp now owns 242,343 shares of the software maker’s stock worth $6,858,000 after purchasing an additional 5,627 shares in the last quarter. Hedge funds and other institutional investors own 75.22% of the company’s stock.

Ringcentral Company Profile

RingCentral, Inc is a provider of software-as-a-service (SaaS) solutions for businesses to support modern communications. The Company’s cloud-based business communications solutions provide a single user identity across multiple locations and devices, including smartphones, tablets, personal computers (PCs) and desk phones, and allow for communication across multiple channels, including high definition (HD) voice, video, short messaging service (SMS), messaging and collaboration, conferencing, online meetings, and fax.

Insider Buying and Selling by Quarter for Ringcentral (NYSE:RNG)

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