RingCentral (NYSE:RNG) COO Kira Makagon Sells 16,988 Shares

RingCentral, Inc. (NYSE:RNG) COO Kira Makagon sold 16,988 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $42.54, for a total value of $722,669.52. Following the completion of the sale, the chief operating officer owned 212,724 shares in the company, valued at approximately $9,049,278.96. This represents a 7.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kira Makagon also recently made the following trade(s):

• On Monday, April 27th, Kira Makagon sold 5,870 shares of RingCentral stock. The stock was sold at an average price of $40.27, for a total value of $236,384.90.
• On Friday, February 27th, Kira Makagon sold 22,196 shares of RingCentral stock. The stock was sold at an average price of $35.15, for a total value of $780,189.40.

RingCentral Stock Up 0.9%

RingCentral stock opened at $41.98 on Friday. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 44.65, a price-to-earnings-growth ratio of 1.22 and a beta of 1.13. RingCentral, Inc. has a 52 week low of $23.59 and a 52 week high of $48.57. The business’s 50-day moving average price is $39.93 and its 200 day moving average price is $33.58.

RingCentral (NYSE:RNG) last posted its earnings results on Thursday, May 7th. The software maker reported $1.20 EPS for the quarter, topping the consensus estimate of $1.17 by $0.03. The firm had revenue of $644.20 million for the quarter, compared to analyst estimates of $642.73 million. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.RingCentral’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $1.00 earnings per share. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. Equities analysts expect that RingCentral, Inc. will post 2.79 EPS for the current year.

RingCentral Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, June 2nd. RingCentral’s dividend payout ratio (DPR) is 31.91%.

Analysts Set New Price Targets

Several analysts recently commented on RNG shares. Morgan Stanley raised their target price on RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Piper Sandler raised their target price on RingCentral from $28.00 to $37.00 and gave the stock a “neutral” rating in a report on Monday, February 23rd. UBS Group set a $38.00 price objective on RingCentral in a report on Friday, February 20th. Jefferies Financial Group reissued a “hold” rating and issued a $40.00 price objective on shares of RingCentral in a report on Saturday, May 9th. Finally, Needham & Company LLC raised their price objective on RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a report on Friday, March 13th. Three equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $43.00.

Institutional Trading of RingCentral

Several institutional investors have recently bought and sold shares of RNG. Empowered Funds LLC grew its holdings in RingCentral by 9.0% in the first quarter. Empowered Funds LLC now owns 11,417 shares of the software maker’s stock valued at $283,000 after purchasing an additional 940 shares during the period. Woodline Partners LP grew its holdings in RingCentral by 14.8% in the first quarter. Woodline Partners LP now owns 159,474 shares of the software maker’s stock valued at $3,949,000 after purchasing an additional 20,518 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in RingCentral by 2.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,190 shares of the software maker’s stock valued at $6,467,000 after purchasing an additional 5,398 shares during the period. Creative Planning acquired a new stake in RingCentral in the second quarter valued at approximately $274,000. Finally, Invesco Ltd. grew its holdings in RingCentral by 10.8% in the second quarter. Invesco Ltd. now owns 137,935 shares of the software maker’s stock valued at $3,910,000 after purchasing an additional 13,446 shares during the period. 98.61% of the stock is owned by institutional investors and hedge funds.

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.