RingCentral (NYSE:RNG) CAO Sells $359,699.60 in Stock

RingCentral, Inc. (NYSE:RNG) CAO Tarun Arora sold 8,840 shares of RingCentral stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $40.69, for a total value of $359,699.60. Following the completion of the transaction, the chief accounting officer owned 75,492 shares of the company’s stock, valued at $3,071,769.48. The trade was a 10.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Tarun Arora also recently made the following trade(s):

• On Tuesday, March 3rd, Tarun Arora sold 3,723 shares of RingCentral stock. The stock was sold at an average price of $36.14, for a total transaction of $134,549.22.
• 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 Down 4.5%

RingCentral stock traded down $1.84 during trading on Wednesday, reaching $38.85. The stock had a trading volume of 2,009,152 shares, compared to its average volume of 2,777,399. RingCentral, Inc. has a 52-week low of $20.58 and a 52-week high of $42.42. The stock has a market cap of $3.36 billion, a PE ratio of 80.95, a P/E/G ratio of 1.65 and a beta of 1.14. The business has a 50 day moving average price of $30.40 and a 200 day moving average price of $29.61.

RingCentral (NYSE:RNG) last announced its quarterly earnings data on Thursday, February 19th. The software maker reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The company had revenue of $644.03 million for the quarter, compared to the consensus estimate of $643.52 million. RingCentral had a net margin of 1.73% and a negative return on equity of 28.14%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 EPS. 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 predict that RingCentral, Inc. will post 1.29 EPS for the current fiscal year.

RingCentral Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be paid a $0.075 dividend. The ex-dividend date is Monday, March 9th. This represents a $0.30 dividend on an annualized basis and a yield of 0.8%. RingCentral’s dividend payout ratio (DPR) is currently 62.50%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Piper Sandler upped their price objective on RingCentral from $28.00 to $37.00 and gave the stock a “neutral” rating in a research report on Monday, February 23rd. Mizuho boosted their target price on RingCentral from $27.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Rosenblatt Securities upped their price target on RingCentral from $32.00 to $37.50 and gave the company a “buy” rating in a report on Friday, February 20th. Zacks Research upgraded shares of RingCentral from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Finally, Robert W. Baird boosted their price objective on shares of RingCentral from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, February 23rd. Four equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $34.04.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RNG. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of RingCentral by 22.9% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 1,224,090 shares of the software maker’s stock valued at $34,691,000 after acquiring an additional 228,202 shares during the period. Y Intercept Hong Kong Ltd increased its holdings in shares of RingCentral by 544.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 91,918 shares of the software maker’s stock valued at $2,605,000 after acquiring an additional 77,663 shares during the period. Russell Investments Group Ltd. raised its position in RingCentral by 79.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 340,188 shares of the software maker’s stock valued at $9,610,000 after purchasing an additional 150,537 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in RingCentral by 29.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 599,629 shares of the software maker’s stock valued at $16,999,000 after purchasing an additional 134,992 shares during the last quarter. Finally, Vise Technologies Inc. acquired a new stake in RingCentral during the 2nd quarter worth $430,000. Hedge funds and other institutional investors own 98.61% of the company’s stock.

About RingCentral

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.