Insider Selling: RingCentral (NYSE:RNG) CAO Sells 3,615 Shares of Stock

RingCentral, Inc. (NYSE:RNG) CAO Tarun Arora sold 3,615 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $43.00, for a total value of $155,445.00. Following the completion of the sale, the chief accounting officer directly owned 68,100 shares of the company’s stock, valued at approximately $2,928,300. This represents a 5.04% decrease in their position. The transaction was disclosed in a legal filing 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.

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

• On Tuesday, May 26th, Tarun Arora sold 919 shares of RingCentral stock. The shares were sold at an average price of $42.66, for a total value of $39,204.54.
• On Tuesday, April 21st, Tarun Arora sold 953 shares of RingCentral stock. The shares were sold at an average price of $43.00, for a total value of $40,979.00.
• 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.

RingCentral Trading Down 5.6%

RingCentral stock traded down $2.75 during midday trading on Tuesday, hitting $46.35. 2,171,264 shares of the stock were exchanged, compared to its average volume of 2,221,948. RingCentral, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $49.85. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 49.31, a PEG ratio of 1.27 and a beta of 1.14. The stock’s 50-day simple moving average is $40.29 and its 200 day simple moving average is $33.85.

RingCentral (NYSE:RNG) last posted its earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.03. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The company had revenue of $644.20 million for the quarter, compared to analyst estimates of $642.73 million. During the same period in the previous year, the business posted $1.00 EPS. RingCentral’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 anticipate that RingCentral, Inc. will post 2.79 EPS for the current fiscal year.

RingCentral Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, June 2nd. RingCentral’s dividend payout ratio is presently 31.91%.

Institutional Trading of RingCentral

Several hedge funds have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd acquired a new position in RingCentral during the 3rd quarter worth approximately $843,000. Invenomic Capital Management LP lifted its holdings in RingCentral by 3.9% during the 3rd quarter. Invenomic Capital Management LP now owns 1,482,447 shares of the software maker’s stock worth $42,013,000 after buying an additional 55,088 shares during the last quarter. Vanguard Group Inc. lifted its holdings in RingCentral by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 11,823,636 shares of the software maker’s stock worth $335,082,000 after buying an additional 129,444 shares during the last quarter. Clark Capital Management Group Inc. boosted its position in shares of RingCentral by 103.3% during the 3rd quarter. Clark Capital Management Group Inc. now owns 303,455 shares of the software maker’s stock worth $8,600,000 after acquiring an additional 154,188 shares in the last quarter. Finally, Capital World Investors increased its holdings in shares of RingCentral by 20.9% in the 3rd quarter. Capital World Investors now owns 11,735,991 shares of the software maker’s stock valued at $332,598,000 after acquiring an additional 2,031,861 shares during the last quarter. 98.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on RNG shares. UBS Group set a $38.00 price target on RingCentral in a research note on Friday, February 20th. Mizuho boosted their price objective on shares of RingCentral from $27.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, February 20th. Morgan Stanley upped their target price on shares of RingCentral from $33.00 to $40.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Oppenheimer reaffirmed an “outperform” rating and issued a $50.00 target price on shares of RingCentral in a research report on Friday, May 8th. Finally, Wells Fargo & Company upped their target price on shares of RingCentral from $32.00 to $43.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, RingCentral presently has a consensus rating of “Hold” and a consensus target price of $43.00.

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.