Key Points
- CFO sold 14,971 shares of RingCentral at an average price of $25.96 on Nov. 21, trimming his holding by 8.29% to 165,593 shares valued at about $4.3 million, per an SEC filing.
- Company beat earnings estimates with $1.13 EPS vs $1.08 expected and revenue of $638.66M (up 4.9% YoY), but still reported a negative net margin (-0.50%) and negative ROE (-19.63%); management guided FY2025 EPS to $4.29–4.33 and Q4 to $1.12–1.15.
- 98.61% institutional ownership with major funds like Vanguard and Capital World increasing stakes, while Wall Street maintains a consensus "Hold" rating and a $31.54 average target price.
Ringcentral, Inc. (NYSE:RNG - Get Free Report) CFO Vaibhav Agarwal sold 14,971 shares of Ringcentral stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $25.96, for a total transaction of $388,647.16. Following the transaction, the chief financial officer directly owned 165,593 shares in the company, valued at $4,298,794.28. The trade was a 8.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Ringcentral Stock Performance
Shares of NYSE:RNG opened at $27.53 on Tuesday. The company has a 50 day moving average price of $28.49 and a two-hundred day moving average price of $28.24. The company has a market capitalization of $2.38 billion, a PE ratio of -196.64, a PEG ratio of 1.33 and a beta of 1.33. Ringcentral, Inc. has a 52 week low of $20.58 and a 52 week high of $42.19.
Ringcentral (NYSE:RNG - Get Free Report) last announced its quarterly earnings results on Monday, November 3rd. The software maker reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.05. Ringcentral had a negative net margin of 0.50% and a negative return on equity of 19.63%. The company had revenue of $638.66 million during the quarter, compared to analyst estimates of $635.39 million. During the same quarter in the previous year, the business earned $0.95 EPS. The firm's revenue was up 4.9% on a year-over-year basis. Ringcentral has set its FY 2025 guidance at 4.290-4.330 EPS. Q4 2025 guidance at 1.120-1.150 EPS. On average, sell-side analysts forecast that Ringcentral, Inc. will post 1.29 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the company. Morgan Stanley raised their price target on Ringcentral from $29.00 to $31.00 and gave the stock an "equal weight" rating in a research report on Tuesday, November 4th. UBS Group lowered their target price on Ringcentral from $33.00 to $32.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Oppenheimer raised shares of Ringcentral from a "market perform" rating to an "outperform" rating and set a $35.00 price target on the stock in a research note on Wednesday, August 6th. Wells Fargo & Company assumed coverage on shares of Ringcentral in a research report on Tuesday, September 30th. They set an "equal weight" rating and a $32.00 price objective for the company. Finally, Jefferies Financial Group dropped their price objective on shares of Ringcentral from $30.00 to $29.00 and set a "hold" rating on the stock in a report on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $31.54.
Check Out Our Latest Stock Analysis on RNG
Institutional Trading of Ringcentral
A number of hedge funds and other institutional investors have recently made changes to their positions in RNG. Vanguard Group Inc. lifted its position in shares of Ringcentral by 1.1% in the third 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. Capital World Investors lifted its position in Ringcentral by 20.9% during the 3rd quarter. Capital World Investors now owns 11,735,991 shares of the software maker's stock worth $332,598,000 after buying an additional 2,031,861 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Ringcentral by 7.9% during the 1st quarter. Ameriprise Financial Inc. now owns 7,026,565 shares of the software maker's stock worth $173,987,000 after buying an additional 512,834 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Ringcentral in the 3rd quarter valued at about $53,365,000. Finally, Contour Asset Management LLC bought a new position in shares of Ringcentral in the 1st quarter valued at about $45,650,000. 98.61% of the stock is currently owned by institutional investors and hedge funds.
About Ringcentral
(
Get Free Report)
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.
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