RingCentral Inc. (NYSE:RNG) SVP John H. Marlow sold 2,000 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $22.45, for a total transaction of $44,900.00. Following the completion of the sale, the senior vice president now directly owns 89,511 shares in the company, valued at $2,009,521.95. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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 transaction 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 transaction of $38,720.00.

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

RingCentral (NYSE:RNG) last announced its earnings results on Wednesday, August 3rd. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $91.80 million for the quarter, compared to analysts’ expectations of $70.70 million. RingCentral had a negative net margin of 8.17% and a negative return on equity of 21.08%. The company’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) EPS. On average, equities research analysts anticipate that RingCentral Inc. will post $0.07 EPS for the current fiscal year.

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

Several institutional investors have recently made changes to their positions in the stock. Macquarie Group Ltd. acquired a new position in shares of RingCentral during the second quarter worth approximately $2,915,000. Schwab Charles Investment Management Inc. boosted its position in shares of RingCentral by 6.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 221,182 shares of the company’s stock worth $4,362,000 after buying an additional 12,714 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of RingCentral by 11.0% in the second quarter. Metropolitan Life Insurance Co. NY now owns 41,827 shares of the company’s stock worth $825,000 after buying an additional 4,147 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of RingCentral during the second quarter worth approximately $311,000. Finally, Paloma Partners Management Co boosted its position in shares of RingCentral by 4.4% in the second quarter. Paloma Partners Management Co now owns 23,439 shares of the company’s stock worth $462,000 after buying an additional 982 shares during the last quarter. 67.06% of the stock is currently owned by institutional investors and hedge funds.

RingCentral Company Profile

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.

5 Day Chart for NYSE:RNG

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