RingCentral (NYSE:RNG) CFO Sells $110,564.00 in Stock

RingCentral, Inc. (NYSE:RNG) CFO Vaibhav Agarwal sold 1,688 shares of RingCentral stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $65.50, for a total value of $110,564.00. Following the transaction, the chief financial officer owned 169,282 shares in the company, valued at $11,087,971. This trade represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through 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 stock was sold at an average price of $42.06, for a total value of $170,090.64.

RingCentral Stock Down 0.6%

RNG stock opened at $65.57 on Friday. RingCentral, Inc. has a twelve month low of $24.14 and a twelve month high of $68.45. The stock has a market cap of $5.48 billion, a P/E ratio of 52.46, a PEG ratio of 1.14 and a beta of 1.10. The business’s 50-day moving average price is $47.54 and its 200-day moving average price is $41.37.

RingCentral (NYSE:RNG) last announced its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.The company had revenue of $657.01 million during the quarter, compared to the consensus estimate of $650.53 million. During the same period in the previous year, the company posted $1.06 EPS. The firm’s revenue was up 5.9% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. On average, equities research analysts expect that RingCentral, Inc. will post 2.88 earnings per share for the current fiscal year.

RingCentral Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from RingCentral’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Thursday, August 6th. RingCentral’s dividend payout ratio is currently 40.00%.

Hedge Funds Weigh In On RingCentral

Hedge funds and other institutional investors have recently modified their holdings of the stock. WealthCollab LLC increased its holdings in 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 acquiring an additional 259 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of RingCentral by 127.3% during 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 last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of RingCentral by 269.3% during the 4th 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 during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of RingCentral by 70.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock valued at $30,000 after purchasing an additional 424 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of RingCentral during the third quarter valued at about $30,000. Institutional investors own 98.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RNG. Weiss Ratings restated a “hold (c)” rating on shares of RingCentral in a research note on Friday, July 17th. Wells Fargo & Company raised their price target on RingCentral from $32.00 to $43.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Robert W. Baird set a $45.00 price objective on RingCentral in a research report on Friday, May 8th. Piper Sandler boosted their price objective on RingCentral from $40.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $40.00 target price on shares of RingCentral in a research report on Saturday, May 9th. Three analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, RingCentral has a consensus rating of “Hold” and a consensus price target of $44.40.

RingCentral Company Profile

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.