Insider Selling: RingCentral (NYSE:RNG) CFO Sells $263,143.08 in Stock

RingCentral, Inc. (NYSE:RNG) CFO Vaibhav Agarwal sold 4,044 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $65.07, for a total value of $263,143.08. Following the transaction, the chief financial officer owned 161,048 shares of the company’s stock, valued at approximately $10,479,393.36. The trade was a 2.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 Tuesday, August 18th, Vaibhav Agarwal sold 1,688 shares of RingCentral stock. The shares were sold at an average price of $65.50, for a total value of $110,564.00.
• On Tuesday, June 2nd, Vaibhav Agarwal sold 7,047 shares of RingCentral stock. The shares were sold at an average price of $46.17, for a total value of $325,359.99.

RingCentral Trading Up 0.9%

Shares of NYSE RNG opened at $66.18 on Thursday. The business has a 50-day moving average of $49.85 and a 200-day moving average of $42.52. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of 52.94, a PEG ratio of 1.14 and a beta of 1.10. RingCentral, Inc. has a 12 month low of $24.14 and a 12 month high of $68.45.

RingCentral (NYSE:RNG) last announced its earnings results on Thursday, July 23rd. The software maker reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. RingCentral had a net margin of 4.27% and a negative return on equity of 34.49%. The business had revenue of $657.01 million for the quarter, compared to the consensus estimate of $650.53 million. During the same period last year, the firm posted $1.06 earnings per share. RingCentral’s quarterly revenue was up 5.9% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. On average, analysts predict that RingCentral, Inc. will post 2.89 earnings per share for the current year.

RingCentral Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were given a dividend of $0.125 per share. This is an increase from RingCentral’s previous quarterly dividend of $0.07. The ex-dividend date was Thursday, August 6th. This represents a $0.50 annualized dividend and a dividend yield of 0.8%. RingCentral’s dividend payout ratio is 40.00%.

Institutional Trading of RingCentral

Several institutional investors have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in RingCentral during the 1st quarter worth approximately $697,000. Robertson Stephens Wealth Management LLC lifted its position in RingCentral by 124.7% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 90,311 shares of the software maker’s stock valued at $2,608,000 after purchasing an additional 50,122 shares during the last quarter. LSV Asset Management lifted its position in RingCentral by 142.4% in the fourth quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock valued at $82,935,000 after purchasing an additional 1,686,900 shares during the last quarter. Jupiter Asset Management Ltd. boosted its stake in shares of RingCentral by 11.4% during the fourth quarter. Jupiter Asset Management Ltd. now owns 1,456,270 shares of the software maker’s stock valued at $42,057,000 after purchasing an additional 149,532 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of RingCentral by 60.0% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 280,323 shares of the software maker’s stock worth $8,096,000 after purchasing an additional 105,145 shares during the last quarter. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on RNG shares. Rosenblatt Securities reissued a “buy” rating and issued a $50.00 target price on shares of RingCentral in a research note on Friday, July 24th. Wells Fargo & Company lifted their price target on RingCentral from $43.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Needham & Company LLC reiterated a “buy” rating on shares of RingCentral in a report on Monday, July 20th. Morgan Stanley increased their price objective on RingCentral from $33.00 to $40.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Finally, Mizuho raised their price objective on RingCentral from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Three analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $46.60.

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.