RingCentral, Inc. (NYSE:RNG - Get Free Report) CAO Tarun Arora sold 3,723 shares of the company's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $36.14, for a total value of $134,549.22. Following the completion of the sale, the chief accounting officer owned 84,332 shares of the company's stock, valued at $3,047,758.48. This trade represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Tarun Arora also recently made the following trade(s):
- On Thursday, February 26th, Tarun Arora sold 773 shares of RingCentral stock. The shares were sold at an average price of $34.80, for a total transaction of $26,900.40.
RingCentral Stock Up 2.1%
Shares of RingCentral stock opened at $36.89 on Wednesday. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 76.86, a PEG ratio of 1.42 and a beta of 1.14. The stock's 50-day simple moving average is $29.27 and its 200-day simple moving average is $29.22. RingCentral, Inc. has a 52 week low of $20.58 and a 52 week high of $40.64.
RingCentral (NYSE:RNG - Get Free Report) last issued its earnings results on Thursday, February 19th. The software maker reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. RingCentral had a negative return on equity of 29.05% and a net margin of 1.73%.The company had revenue of $644.03 million for the quarter, compared to the consensus estimate of $643.52 million. During the same quarter last year, the company earned $0.98 EPS. The firm's quarterly revenue was up 4.8% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.760-4.970 EPS and its Q1 2026 guidance at 1.160-1.190 EPS. On average, equities analysts expect that RingCentral, Inc. will post 1.29 earnings per share for the current year.
RingCentral Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, March 9th.
Hedge Funds Weigh In On RingCentral
Large investors have recently modified their holdings of the stock. Global Retirement Partners LLC boosted its stake in RingCentral by 98.5% during the third 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 period. EverSource Wealth Advisors LLC lifted its holdings in shares of RingCentral by 269.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker's stock worth $29,000 after acquiring an additional 738 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of RingCentral during the 3rd quarter worth about $30,000. Jones Financial Companies Lllp grew its holdings in RingCentral by 61.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,217 shares of the software maker's stock valued at $37,000 after purchasing an additional 464 shares during the last quarter. Finally, Covestor Ltd raised its position in RingCentral by 198.5% in the 4th quarter. Covestor Ltd now owns 1,594 shares of the software maker's stock worth $46,000 after purchasing an additional 1,060 shares during the period. Institutional investors own 98.61% of the company's stock.
Analysts Set New Price Targets
RNG has been the topic of several research reports. Piper Sandler lifted their target price on RingCentral from $28.00 to $37.00 and gave the stock a "neutral" rating in a report on Monday, February 23rd. Zacks Research cut RingCentral from a "hold" rating to a "strong sell" rating in a report on Tuesday, February 3rd. UBS Group set a $38.00 price objective on RingCentral in a report on Friday, February 20th. Mizuho increased their target price on RingCentral from $27.00 to $32.00 and gave the company a "neutral" rating in a research report on Friday, February 20th. Finally, Rosenblatt Securities boosted their price target on shares of RingCentral from $32.00 to $37.50 and gave the stock a "buy" rating in a research report on Friday, February 20th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $34.04.
Check Out Our Latest Report on RNG
About RingCentral
(
Get Free Report)
RingCentral, Inc is a leading provider of cloud-based business communications and collaboration solutions. The company’s flagship platform delivers unified communications as a service (UCaaS), integrating voice over IP (VoIP) phone systems, video conferencing, team messaging and SMS into a single, cloud-native application. In addition to its UCaaS offering, RingCentral provides contact center as a service (CCaaS) capabilities, enabling organizations to manage customer interactions across voice, email, chat and social channels from a centralized dashboard.
Founded in 1999 and headquartered in Belmont, California, RingCentral went public on the New York Stock Exchange under the ticker RNG in 2013.
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