RingCentral Inc. (NYSE:RNG) SVP John H. Marlow sold 17,000 shares of the stock in a transaction on Friday, September 16th. The shares were sold at an average price of $23.20, for a total value of $394,400.00. Following the sale, the senior vice president now directly owns 105,511 shares in the company, valued at approximately $2,447,855.20. The sale was disclosed in a document filed with the SEC, which is available at this link.

John H. Marlow also recently made the following trade(s):

  • On Tuesday, July 5th, John H. Marlow sold 1,000 shares of RingCentral stock. The shares were sold at an average price of $19.32, for a total value of $19,320.00.
  • On Wednesday, July 6th, John H. Marlow sold 2,000 shares of RingCentral stock. The shares were sold at an average price of $19.36, for a total value of $38,720.00.

Shares of RingCentral Inc. (NYSE:RNG) opened at 23.09 on Wednesday. The firm’s market cap is $1.69 billion. The firm’s 50-day moving average price is $22.79 and its 200-day moving average price is $19.93. RingCentral Inc. has a 12 month low of $13.88 and a 12 month high of $25.67.

RingCentral (NYSE:RNG) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. RingCentral had a negative return on equity of 21.08% and a negative net margin of 8.17%. The business had revenue of $91.80 million for the quarter, compared to analyst estimates of $70.70 million. During the same quarter in the prior year, the company earned ($0.05) earnings per share. The company’s revenue was up 29.8% on a year-over-year basis. Analysts expect that RingCentral Inc. will post $0.07 earnings per share for the current year.

Several analysts have issued reports on the company. Robert W. Baird assumed coverage on RingCentral in a research report on Thursday, August 25th. They set a “neutral” rating and a $24.00 target price on the stock. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $29.00 price objective (up previously from $27.00) on shares of RingCentral in a research report on Friday, August 5th. Jefferies Group raised their price objective on RingCentral from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Craig Hallum initiated coverage on RingCentral in a research report on Thursday, July 7th. They issued a “buy” rating and a $25.00 price objective for the company. Finally, Summit Redstone reissued a “buy” rating and issued a $24.00 price objective on shares of RingCentral in a research report on Wednesday, June 29th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $25.40.

Several hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP raised its stake in RingCentral by 3.5% in the second quarter. Quantbot Technologies LP now owns 7,481 shares of the company’s stock worth $147,000 after buying an additional 252 shares in the last quarter. Thompson Davis & CO. Inc. raised its position in RingCentral by 2.8% in the second quarter. Thompson Davis & CO. Inc. now owns 13,751 shares of the company’s stock valued at $271,000 after buying an additional 375 shares during the period. TD Asset Management Inc. raised its position in RingCentral by 5.5% in the second quarter. TD Asset Management Inc. now owns 17,300 shares of the company’s stock valued at $341,000 after buying an additional 900 shares during the period. Paloma Partners Management Co raised its position in RingCentral by 4.4% in the second quarter. Paloma Partners Management Co now owns 23,439 shares of the company’s stock valued at $462,000 after buying an additional 982 shares during the period. Finally, Teacher Retirement System of Texas raised its position in RingCentral by 18.1% in the second quarter. Teacher Retirement System of Texas now owns 6,994 shares of the company’s stock valued at $138,000 after buying an additional 1,071 shares during the period. 67.06% of the stock is currently owned by institutional investors and hedge funds.

About RingCentral

RingCentral, Inc is a provider of software-as-a-service (SaaS) solutions for business communications. The Company’s cloud-based business communications solutions provide a single user identity across multiple locations and devices, including smartphones, tablets, personal computers (PCs) and desk phones, and allow for communication across multiple channels, including voice, text, team messaging collaboration, high definition (HD) video for Web conferencing and fax.

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