RingCentral (NYSE:RNG) CFO Sells $170,090.64 in Stock

RingCentral, Inc. (NYSE:RNG) CFO Vaibhav Agarwal sold 4,044 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $42.06, for a total transaction of $170,090.64. Following the completion of the transaction, the chief financial officer directly owned 132,181 shares in the company, valued at approximately $5,559,532.86. The trade was a 2.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 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 value of $90,176.40.
• On Monday, March 2nd, Vaibhav Agarwal sold 18,680 shares of RingCentral stock. The stock was sold at an average price of $36.33, for a total value of $678,644.40.
• On Monday, February 23rd, Vaibhav Agarwal sold 10,744 shares of RingCentral stock. The shares were sold at an average price of $35.50, for a total value of $381,412.00.

RingCentral Trading Up 3.2%

Shares of NYSE:RNG traded up $1.35 during mid-day trading on Friday, hitting $43.57. 1,022,704 shares of the company traded hands, compared to its average volume of 2,255,352. The stock has a 50-day moving average price of $39.47 and a two-hundred day moving average price of $33.05. RingCentral, Inc. has a 12-month low of $23.59 and a 12-month high of $48.57. The stock has a market cap of $3.66 billion, a P/E ratio of 46.35, a P/E/G ratio of 1.32 and a beta of 1.13.

RingCentral (NYSE:RNG) last released its quarterly earnings results on Thursday, May 7th. The software maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.The business had revenue of $644.20 million during the quarter, compared to analyst estimates of $642.73 million. During the same period in the prior year, the firm posted $1.00 EPS. RingCentral’s quarterly revenue was up 5.3% compared to the same quarter last year. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. As a group, analysts expect that RingCentral, Inc. will post 2.69 earnings per share for the current year.

RingCentral Dividend Announcement

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

Institutional Trading of RingCentral

Several hedge funds have recently added to or reduced their stakes in RNG. WealthCollab LLC increased its stake in shares of RingCentral by 59.7% during the 1st quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock worth $26,000 after purchasing an additional 259 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in RingCentral by 3.1% in the first quarter. Pictet Asset Management Holding SA now owns 11,883 shares of the software maker’s stock valued at $442,000 after purchasing an additional 362 shares during the last quarter. Rothschild Investment LLC grew its holdings in RingCentral by 15.8% during the fourth quarter. Rothschild Investment LLC now owns 2,681 shares of the software maker’s stock valued at $77,000 after purchasing an additional 366 shares during the period. Sovereign Financial Group Inc. grew its holdings in RingCentral by 4.2% during the first quarter. Sovereign Financial Group Inc. now owns 10,170 shares of the software maker’s stock valued at $378,000 after purchasing an additional 409 shares during the period. Finally, Meeder Asset Management Inc. increased its position in RingCentral by 127.3% in the first quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock worth $27,000 after buying an additional 410 shares during the last quarter. Institutional investors own 98.61% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on RNG. Weiss Ratings raised shares of RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Needham & Company LLC boosted their target price on RingCentral from $36.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, March 13th. Oppenheimer reaffirmed an “outperform” rating and issued a $50.00 target price on shares of RingCentral in a report on Friday, May 8th. Jefferies Financial Group reaffirmed a “hold” rating and set a $40.00 price target on shares of RingCentral in a research report on Saturday, May 9th. Finally, Rosenblatt Securities lifted their price target on RingCentral from $45.00 to $50.00 and gave the stock a “buy” rating in a 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 data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.