Vladimir Shmunis Sells 50,700 Shares of RingCentral Inc (NYSE:RNG) Stock

RingCentral Inc (NYSE:RNG) CEO Vladimir Shmunis sold 50,700 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $122.18, for a total transaction of $6,194,526.00. Following the transaction, the chief executive officer now directly owns 282,297 shares in the company, valued at $34,491,047.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Vladimir Shmunis also recently made the following trade(s):

  • On Tuesday, July 9th, Vladimir Shmunis sold 16,898 shares of RingCentral stock. The shares were sold at an average price of $120.69, for a total transaction of $2,039,419.62.
  • On Tuesday, June 11th, Vladimir Shmunis sold 14,798 shares of RingCentral stock. The shares were sold at an average price of $119.07, for a total transaction of $1,761,997.86.
  • On Thursday, June 13th, Vladimir Shmunis sold 50,700 shares of RingCentral stock. The shares were sold at an average price of $118.13, for a total transaction of $5,989,191.00.
  • On Wednesday, May 22nd, Vladimir Shmunis sold 16,901 shares of RingCentral stock. The shares were sold at an average price of $123.20, for a total transaction of $2,082,203.20.
  • On Monday, May 20th, Vladimir Shmunis sold 51,923 shares of RingCentral stock. The shares were sold at an average price of $120.87, for a total transaction of $6,275,933.01.

RNG stock opened at $122.97 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 3.08 and a quick ratio of 3.08. The company has a market capitalization of $10.08 billion, a P/E ratio of -3,074.25 and a beta of 0.79. RingCentral Inc has a 12 month low of $64.41 and a 12 month high of $127.00. The business has a 50 day simple moving average of $118.43.

RingCentral (NYSE:RNG) last posted its earnings results on Monday, May 6th. The software maker reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.16). The business had revenue of $201.50 million during the quarter, compared to the consensus estimate of $193.54 million. RingCentral had a negative return on equity of 0.73% and a negative net margin of 4.12%. The business’s revenue was up 34.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 earnings per share. As a group, sell-side analysts expect that RingCentral Inc will post -0.43 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Parametrica Management Ltd bought a new stake in RingCentral in the first quarter worth approximately $232,000. Carillon Tower Advisers Inc. acquired a new stake in shares of RingCentral in the first quarter worth $43,332,000. Raymond James & Associates lifted its stake in shares of RingCentral by 16.0% in the first quarter. Raymond James & Associates now owns 351,776 shares of the software maker’s stock worth $37,921,000 after buying an additional 48,418 shares during the last quarter. Chartwell Investment Partners LLC lifted its stake in shares of RingCentral by 1.1% in the first quarter. Chartwell Investment Partners LLC now owns 68,243 shares of the software maker’s stock worth $7,357,000 after buying an additional 768 shares during the last quarter. Finally, Stephens Investment Management Group LLC acquired a new stake in shares of RingCentral in the first quarter worth $11,132,000. 81.88% of the stock is owned by institutional investors.

RNG has been the topic of a number of research analyst reports. SunTrust Banks boosted their price objective on shares of Everbridge to $87.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Bank of America set a $54.00 price objective on shares of Fortis and gave the company a “buy” rating in a research report on Thursday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 price objective (up from $32.00) on shares of Kornit Digital in a research report on Tuesday, June 18th. Northland Securities reaffirmed a “buy” rating and set a $12.00 price objective on shares of Medallion Financial in a research report on Tuesday, May 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $105.00 price objective on shares of RingCentral in a research report on Monday, March 25th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. RingCentral has a consensus rating of “Buy” and an average price target of $123.17.

About RingCentral

RingCentral, Inc provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect primarily in North America. The company's products include RingCentral Office, provides communication and collaboration across various modes, including high-definition voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax through smartphones, tablets, PCs, and desk phones; RingCentral Professional, a cloud based virtual telephone service for professionals, as well as provides inbound call answering and management services, and includes inbound local, long-distance, and toll-free minutes; and RingCentral Fax that provides online fax capabilities that allow businesses to send and receive fax documents without a fax machine.

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Insider Buying and Selling by Quarter for RingCentral (NYSE:RNG)

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