RingCentral (NYSE:RNG) COO Sells $1,666,610.40 in Stock

RingCentral, Inc. (NYSE:RNG) COO Kira Makagon sold 46,960 shares of RingCentral stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $35.49, for a total transaction of $1,666,610.40. Following the sale, the chief operating officer owned 369,524 shares of the company’s stock, valued at approximately $13,114,406.76. The trade was a 11.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Kira Makagon also recently made the following trade(s):

• On Friday, December 26th, Kira Makagon sold 6,495 shares of RingCentral stock. The stock was sold at an average price of $29.22, for a total value of $189,783.90.
• On Wednesday, November 26th, Kira Makagon sold 14,798 shares of RingCentral stock. The shares were sold at an average price of $28.11, for a total value of $415,971.78.

RingCentral Stock Performance

RNG opened at $37.15 on Friday. The company has a market cap of $3.22 billion, a price-to-earnings ratio of 77.40, a PEG ratio of 1.37 and a beta of 1.23. RingCentral, Inc. has a one year low of $20.58 and a one year high of $40.64. The business’s fifty day moving average is $28.85 and its two-hundred day moving average is $29.07.

RingCentral (NYSE:RNG) last announced its quarterly earnings results on Thursday, February 19th. The software maker reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. RingCentral had a negative return on equity of 29.05% and a net margin of 1.73%.The business had revenue of $644.03 million during the quarter, compared to analysts’ expectations of $643.52 million. During the same quarter last year, the business posted $0.98 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.760-4.970 EPS and its Q1 2026 guidance at 1.160-1.190 EPS. On average, analysts predict that RingCentral, Inc. will post 1.29 EPS for the current fiscal year.

RingCentral Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be given a $0.075 dividend. The ex-dividend date is Monday, March 9th. This represents a $0.30 annualized dividend and a dividend yield of 0.8%.

Institutional Investors Weigh In On RingCentral

Institutional investors have recently bought and sold shares of the stock. Fort Washington Investment Advisors Inc. OH lifted its holdings in RingCentral by 22.9% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,224,090 shares of the software maker’s stock worth $34,691,000 after buying an additional 228,202 shares in the last quarter. Y Intercept Hong Kong Ltd increased its position in shares of RingCentral by 544.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 91,918 shares of the software maker’s stock worth $2,605,000 after acquiring an additional 77,663 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of RingCentral by 79.4% in the second quarter. Russell Investments Group Ltd. now owns 340,188 shares of the software maker’s stock worth $9,610,000 after acquiring an additional 150,537 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of RingCentral by 29.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 599,629 shares of the software maker’s stock worth $16,999,000 after acquiring an additional 134,992 shares in the last quarter. Finally, Vise Technologies Inc. acquired a new stake in RingCentral during the 2nd quarter valued at approximately $430,000. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RNG has been the subject of several recent research reports. UBS Group set a $38.00 price target on RingCentral in a research report on Friday, February 20th. Oppenheimer reiterated an “outperform” rating on shares of RingCentral in a research report on Friday, February 20th. Morgan Stanley upped their target price on shares of RingCentral from $30.00 to $33.00 and gave the company an “equal weight” rating in a report on Friday, February 20th. Rosenblatt Securities lifted their price target on shares of RingCentral from $32.00 to $37.50 and gave the stock a “buy” rating in a report on Friday, February 20th. Finally, Zacks Research downgraded shares of RingCentral from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, RingCentral currently has an average rating of “Hold” and an average target price of $34.04.

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.