Key Points
- RingCentral CFO Vaibhav Agarwal sold 4,044 shares on May 21 at an average price of $42.06, totaling about $170,091. The sale was made under a pre-arranged 10b5-1 plan to cover tax withholding tied to vesting equity awards.
- Agarwal has also sold shares multiple times recently, including 2,220 shares on May 18, 18,680 shares on March 2, and 10,744 shares on February 23. After the latest sale, he still directly owned 132,181 shares valued at about $5.56 million.
- RingCentral reported solid quarterly results and raised guidance, with Q1 EPS of $1.20 beating estimates and revenue of $644.2 million slightly above expectations. The company also announced a quarterly dividend of $0.075 per share, while analysts currently rate the stock a consensus Hold with a $43 price target.
RingCentral, Inc. (NYSE:RNG - Get Free Report) CFO Vaibhav Agarwal sold 4,044 shares of the business's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $42.06, for a total transaction of $170,090.64. Following the completion of the sale, the chief financial officer directly owned 132,181 shares of the company's stock, valued at $5,559,532.86. This represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Vaibhav Agarwal also recently made the following trade(s):
- On Monday, May 18th, Vaibhav Agarwal sold 2,220 shares of RingCentral stock. The stock was sold at an average price of $40.62, for a total transaction of $90,176.40.
- On Monday, March 2nd, Vaibhav Agarwal sold 18,680 shares of RingCentral stock. The stock was sold at an average price of $36.33, for a total transaction of $678,644.40.
- On Monday, February 23rd, Vaibhav Agarwal sold 10,744 shares of RingCentral stock. The stock was sold at an average price of $35.50, for a total transaction of $381,412.00.
RingCentral Stock Up 3.2%
RingCentral stock opened at $43.57 on Friday. The company has a market capitalization of $3.66 billion, a PE ratio of 46.35, a P/E/G ratio of 1.24 and a beta of 1.13. The firm has a fifty day simple moving average of $39.56 and a two-hundred day simple moving average of $33.13. RingCentral, Inc. has a twelve month low of $23.59 and a twelve month high of $48.57.
RingCentral (NYSE:RNG - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.17 by $0.03. The firm had revenue of $644.20 million during the quarter, compared to the consensus estimate of $642.73 million. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The company's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.00 earnings per share. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. As a group, equities analysts expect that RingCentral, Inc. will post 2.79 earnings per share for the current fiscal year.
RingCentral Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, June 2nd. RingCentral's dividend payout ratio is 31.91%.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on RNG. Rosenblatt Securities upped their price objective on shares of RingCentral from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Needham & Company LLC upped their price objective on shares of RingCentral from $36.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, March 13th. Wells Fargo & Company upped their price objective on shares of RingCentral from $32.00 to $43.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. Morgan Stanley upped their price objective on shares of RingCentral from $33.00 to $40.00 and gave the company an "equal weight" rating in a research note on Monday, May 11th. Finally, Piper Sandler upped their price objective on shares of RingCentral from $28.00 to $37.00 and gave the company a "neutral" rating in a research note on Monday, February 23rd. Three analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $43.00.
Check Out Our Latest Research Report on RNG
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. WealthCollab LLC lifted its stake in shares of RingCentral by 59.7% in the 1st quarter. WealthCollab LLC now owns 693 shares of the software maker's stock valued at $26,000 after purchasing an additional 259 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of RingCentral by 3.1% in the 1st quarter. Pictet Asset Management Holding SA now owns 11,883 shares of the software maker's stock valued at $442,000 after purchasing an additional 362 shares during the period. Rothschild Investment LLC lifted its stake in shares of RingCentral by 15.8% in the 4th quarter. Rothschild Investment LLC now owns 2,681 shares of the software maker's stock valued at $77,000 after purchasing an additional 366 shares during the period. Sovereign Financial Group Inc. lifted its stake in shares of RingCentral by 4.2% in the 1st quarter. Sovereign Financial Group Inc. now owns 10,170 shares of the software maker's stock valued at $378,000 after purchasing an additional 409 shares during the period. Finally, Meeder Asset Management Inc. lifted its stake in shares of RingCentral by 127.3% in the 1st quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker's stock valued at $27,000 after purchasing an additional 410 shares during the period. Institutional investors own 98.61% of the company's stock.
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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