RingCentral, Inc. (NYSE:RNG - Get Free Report) CFO Vaibhav Agarwal sold 1,688 shares of RingCentral stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $65.50, for a total value of $110,564.00. Following the completion of the transaction, the chief financial officer owned 169,282 shares in the company, valued at $11,087,971. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 Tuesday, June 2nd, Vaibhav Agarwal sold 7,047 shares of RingCentral stock. The stock was sold at an average price of $46.17, for a total value of $325,359.99.
- On Thursday, May 21st, Vaibhav Agarwal sold 4,044 shares of RingCentral stock. The shares were sold at an average price of $42.06, for a total value of $170,090.64.
RingCentral Stock Up 1.8%
NYSE:RNG opened at $65.22 on Wednesday. The stock has a fifty day simple moving average of $46.44 and a 200 day simple moving average of $40.81. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 52.18, a price-to-earnings-growth ratio of 1.12 and a beta of 1.10. RingCentral, Inc. has a 1-year low of $24.14 and a 1-year high of $68.45.
RingCentral (NYSE:RNG - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.06. The firm had revenue of $657.01 million for the quarter, compared to the consensus estimate of $650.53 million. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.The business's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.06 EPS. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. Equities analysts predict that RingCentral, Inc. will post 2.88 earnings per share for the current year.
RingCentral Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $0.50 dividend on an annualized basis and a yield of 0.8%. This is a positive change from RingCentral's previous quarterly dividend of $0.07. RingCentral's dividend payout ratio (DPR) is 40.00%.
Hedge Funds Weigh In On RingCentral
Hedge funds have recently modified their holdings of the stock. WealthCollab LLC raised its holdings in shares of RingCentral by 59.7% during the first quarter. WealthCollab LLC now owns 693 shares of the software maker's stock worth $26,000 after acquiring an additional 259 shares in the last quarter. Meeder Asset Management Inc. grew its stake in RingCentral by 127.3% in the first 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 in the last quarter. EverSource Wealth Advisors LLC grew its stake in RingCentral by 269.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker's stock valued at $29,000 after purchasing an additional 738 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in RingCentral by 70.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker's stock worth $30,000 after purchasing an additional 424 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of RingCentral during the 3rd quarter worth about $30,000. 98.61% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts have issued reports on the stock. Robert W. Baird set a $45.00 target price on shares of RingCentral in a research note on Friday, May 8th. Rosenblatt Securities reiterated a "buy" rating and set a $50.00 price target on shares of RingCentral in a report on Friday, July 24th. Piper Sandler upped their price target on RingCentral from $40.00 to $43.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Jefferies Financial Group reissued a "hold" rating and issued a $40.00 price objective on shares of RingCentral in a research note on Saturday, May 9th. Finally, Morgan Stanley raised their price objective on RingCentral from $33.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, RingCentral has a consensus rating of "Hold" and an average target price of $44.40.
Check Out Our Latest Stock Analysis on RNG
RingCentral Company Profile
(
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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