RingCentral (NYSE:RNG) CAO Tarun Arora Sells 953 Shares

RingCentral, Inc. (NYSE:RNG) CAO Tarun Arora sold 953 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $43.00, for a total transaction of $40,979.00. Following the sale, the chief accounting officer directly owned 74,539 shares of the company’s stock, valued at $3,205,177. The trade was a 1.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, March 10th, Tarun Arora sold 8,840 shares of RingCentral stock. The shares were sold at an average price of $40.69, for a total transaction of $359,699.60.
• On Tuesday, March 3rd, Tarun Arora sold 3,723 shares of RingCentral stock. The shares were 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 stock was sold at an average price of $34.80, for a total transaction of $26,900.40.

RingCentral Stock Performance

Shares of RingCentral stock traded up $0.15 during trading on Wednesday, reaching $41.49. The company had a trading volume of 1,357,049 shares, compared to its average volume of 2,328,115. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 86.44, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. The firm’s fifty day moving average is $36.63 and its 200-day moving average is $31.12. RingCentral, Inc. has a fifty-two week low of $23.46 and a fifty-two week high of $43.83.

RingCentral (NYSE:RNG) last posted its quarterly earnings results on Thursday, February 19th. The software maker reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $644.03 million during the quarter, compared to the consensus estimate of $643.52 million. RingCentral had a negative return on equity of 28.14% and a net margin of 1.73%.The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the firm earned $0.98 earnings per share. 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, research analysts anticipate that RingCentral, Inc. will post 2.64 EPS for the current fiscal year.

RingCentral Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 9th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, March 9th. RingCentral’s payout ratio is 62.50%.

Analysts Set New Price Targets

Several brokerages recently issued reports on RNG. Zacks Research upgraded RingCentral from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Oppenheimer reiterated an “outperform” rating on shares of RingCentral in a research note on Friday, February 20th. Robert W. Baird increased their target price on shares of RingCentral from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, February 23rd. Rosenblatt Securities raised their price target on shares of RingCentral from $32.00 to $37.50 and gave the stock a “buy” rating in a research report on Friday, February 20th. Finally, Morgan Stanley lifted their price target on shares of RingCentral from $30.00 to $33.00 and gave the company an “equal weight” rating in a report on Friday, February 20th. Four analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $35.63.

Institutional Investors Weigh In On RingCentral

Several large investors have recently added to or reduced their stakes in the stock. Capital World Investors lifted its stake in RingCentral by 20.9% in the third quarter. Capital World Investors now owns 11,735,991 shares of the software maker’s stock valued at $332,598,000 after buying an additional 2,031,861 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of RingCentral during the third quarter worth about $53,365,000. LSV Asset Management increased its holdings in shares of RingCentral by 142.4% in the 4th quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock worth $82,935,000 after acquiring an additional 1,686,900 shares during the period. AQR Capital Management LLC increased its holdings in shares of RingCentral by 35.4% in the 4th quarter. AQR Capital Management LLC now owns 2,003,950 shares of the software maker’s stock worth $57,874,000 after acquiring an additional 523,966 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in RingCentral by 138.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 811,747 shares of the software maker’s stock valued at $23,113,000 after purchasing an additional 471,559 shares during the last quarter. 98.61% of the stock is owned by institutional investors and hedge funds.

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.