Insider Selling: Ringcentral (NYSE:RNG) CFO Sells $75,000.10 in Stock

Ringcentral, Inc. (NYSE:RNG) CFO Vaibhav Agarwal sold 2,443 shares of Ringcentral stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $30.70, for a total value of $75,000.10. Following the completion of the sale, the chief financial officer owned 226,448 shares in the company, valued at approximately $6,951,953.60. This represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Vaibhav Agarwal also recently made the following trade(s):

• On Wednesday, May 21st, Vaibhav Agarwal sold 14,969 shares of Ringcentral stock. The shares were sold at an average price of $26.88, for a total value of $402,366.72.

Ringcentral Stock Performance

RNG opened at $29.4420 on Thursday. The stock has a market capitalization of $2.67 billion, a PE ratio of -210.28, a price-to-earnings-growth ratio of 1.38 and a beta of 1.28. The stock’s 50 day moving average price is $27.67 and its 200-day moving average price is $27.38. Ringcentral, Inc. has a 52-week low of $20.58 and a 52-week high of $42.19.

Ringcentral (NYSE:RNG) last issued its quarterly earnings data on Tuesday, August 5th. The software maker reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04. The business had revenue of $620.40 million for the quarter, compared to the consensus estimate of $617.90 million. Ringcentral had a negative net margin of 0.50% and a negative return on equity of 19.63%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 EPS. Ringcentral has set its Q3 2025 guidance at 1.060-1.080 EPS. FY 2025 guidance at 4.200-4.320 EPS. Research analysts forecast that Ringcentral, Inc. will post 1.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Ringcentral

Several hedge funds have recently made changes to their positions in RNG. Cerity Partners LLC boosted its holdings in Ringcentral by 83.4% in the fourth quarter. Cerity Partners LLC now owns 18,303 shares of the software maker’s stock worth $639,000 after acquiring an additional 8,321 shares in the last quarter. First Trust Advisors LP boosted its holdings in Ringcentral by 35.6% in the fourth quarter. First Trust Advisors LP now owns 2,009,286 shares of the software maker’s stock worth $70,345,000 after acquiring an additional 527,901 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Ringcentral by 18.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 686,714 shares of the software maker’s stock worth $24,045,000 after acquiring an additional 107,609 shares in the last quarter. Capital World Investors boosted its holdings in Ringcentral by 5.9% in the fourth quarter. Capital World Investors now owns 10,663,441 shares of the software maker’s stock worth $373,327,000 after acquiring an additional 591,398 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new stake in Ringcentral in the fourth quarter worth $49,000. 98.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on RNG shares. Oppenheimer raised shares of Ringcentral from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a research note on Wednesday, August 6th. Wall Street Zen raised shares of Ringcentral from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 5th. Jefferies Financial Group dropped their price target on Ringcentral from $30.00 to $29.00 and set a “hold” rating on the stock in a research report on Wednesday, August 6th. Wedbush dropped their price target on Ringcentral from $38.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Finally, UBS Group dropped their price target on Ringcentral from $33.00 to $32.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Ringcentral currently has an average rating of “Hold” and an average target price of $30.62.

About Ringcentral

RingCentral, Inc, together with its subsidiaries, provides cloud communications, video meetings, collaboration, and contact center software-as-a-service solutions worldwide. The company’s products include RingCentral Message Video Phone that provides a unified experience for communication and collaboration across multiple modes, including HD voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax; RingCentral Contact Center, a collaborative contact center solution that delivers AI-powered omnichannel and workforce engagement solutions with integrated RingCentral MVP; and RingCX, an AI-powered contact center that a native delivers omnichannel experience.