Key Points
- COO Kira Makagon sold 14,798 shares of RingCentral on Nov. 26 at an average price of $28.11, generating about $415,972 and trimming her stake by 4.06% to 349,358 shares (≈$9.82M).
- Recent results and guidance: RingCentral reported Q3 EPS of $1.13 (beat) and revenue of $638.66M (up 4.9% y/y), and set FY2025 EPS guidance of 4.29–4.33 with Q4 guidance of 1.12–1.15.
- Analyst and ownership backdrop: The stock carries a consensus "Hold" rating with an average price target of $31.54 (4 Buys, 10 Holds, 1 Sell), and institutional investors own about 98.6% of the shares.
Ringcentral, Inc. (NYSE:RNG - Get Free Report) CAO Tarun Arora sold 942 shares of the company's stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $28.06, for a total value of $26,432.52. Following the completion of the sale, the chief accounting officer owned 97,300 shares of the company's stock, valued at approximately $2,730,238. The trade was a 0.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Tarun Arora also recently made the following trade(s):
- On Monday, December 1st, Tarun Arora sold 3,888 shares of Ringcentral stock. The stock was sold at an average price of $28.70, for a total value of $111,585.60.
- On Thursday, November 13th, Tarun Arora sold 882 shares of Ringcentral stock. The shares were sold at an average price of $27.38, for a total transaction of $24,149.16.
Ringcentral Trading Up 2.2%
Shares of RNG opened at $28.86 on Tuesday. Ringcentral, Inc. has a 12-month low of $20.58 and a 12-month high of $42.19. The firm has a market capitalization of $2.50 billion, a P/E ratio of -206.09, a P/E/G ratio of 1.33 and a beta of 1.33. The firm has a 50-day moving average price of $28.15 and a 200 day moving average price of $28.25.
Ringcentral (NYSE:RNG - Get Free Report) last posted its earnings results on Monday, November 3rd. The software maker reported $1.13 earnings per share 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 for the quarter, compared to analyst estimates of $635.39 million. During the same period in the previous year, the business posted $0.95 EPS. Ringcentral'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. Equities research analysts predict that Ringcentral, Inc. will post 1.29 earnings per share for the current fiscal year.
Institutional Trading of Ringcentral
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC lifted its holdings in Ringcentral by 98.5% during the 3rd quarter. Global Retirement Partners LLC now owns 901 shares of the software maker's stock worth $26,000 after buying an additional 447 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Ringcentral during the 3rd quarter worth about $30,000. Jones Financial Companies Lllp lifted its stake in Ringcentral by 61.6% during the third quarter. Jones Financial Companies Lllp now owns 1,217 shares of the software maker's stock worth $37,000 after purchasing an additional 464 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Ringcentral by 256.9% in the second quarter. Parallel Advisors LLC now owns 1,481 shares of the software maker's stock valued at $42,000 after purchasing an additional 1,066 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in Ringcentral in the second quarter valued at approximately $49,000. 98.61% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on RNG shares. Morgan Stanley increased their price objective 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 cut their price objective on Ringcentral from $33.00 to $32.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Jefferies Financial Group reduced 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. Needham & Company LLC reaffirmed a "buy" rating and set a $36.00 target price on shares of Ringcentral in a research note on Tuesday, November 4th. Finally, 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 target for the company. 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $31.54.
Check Out Our Latest Analysis on Ringcentral
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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