Insider Selling: RingCentral (NYSE:RNG) CFO Sells $325,359.99 in Stock

RingCentral, Inc. (NYSE:RNG) CFO Vaibhav Agarwal sold 7,047 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $46.17, for a total value of $325,359.99. Following the sale, the chief financial officer owned 169,282 shares in the company, valued at approximately $7,815,749.94. The trade was a 4.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 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 transaction of $170,090.64.
• On Monday, May 18th, Vaibhav Agarwal sold 2,220 shares of RingCentral stock. The stock was sold at an average price of $40.62, for a total transaction of $90,176.40.

RingCentral Stock Performance

RingCentral stock opened at $43.98 on Friday. The company has a 50 day moving average price of $40.72 and a 200 day moving average price of $34.22. RingCentral, Inc. has a 52 week low of $23.59 and a 52 week high of $49.85. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 46.79, a P/E/G ratio of 1.29 and a beta of 1.14.

RingCentral (NYSE:RNG) last posted its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The firm had revenue of $644.20 million during the quarter, compared to analyst estimates of $642.73 million. During the same quarter last year, the business posted $1.00 EPS. The company’s revenue was up 5.3% on a year-over-year basis. 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 forecast that RingCentral, Inc. will post 2.79 earnings per share for the current fiscal year.

RingCentral Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts recently commented on RNG shares. Morgan Stanley raised their price objective on shares of RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Jefferies Financial Group reiterated a “hold” rating and set a $40.00 price objective on shares of RingCentral in a report on Saturday, May 9th. Rosenblatt Securities lifted their price objective on RingCentral from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Wells Fargo & Company upped their target price on RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Finally, Robert W. Baird set a $45.00 price target on RingCentral in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $43.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RNG. WealthCollab LLC raised its holdings in shares of RingCentral by 59.7% during the 1st quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock valued at $26,000 after purchasing an additional 259 shares in the last quarter. Meeder Asset Management Inc. raised 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 in the last quarter. EverSource Wealth Advisors LLC raised 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 in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of RingCentral by 70.5% during the 4th 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 bought a new position in shares of RingCentral during the 3rd quarter valued at $30,000. 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.