Insider Selling: RingCentral (NYSE:RNG) CFO Sells 2,220 Shares of Stock

RingCentral, Inc. (NYSE:RNG) CFO Vaibhav Agarwal sold 2,220 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $40.62, for a total value of $90,176.40. Following the sale, the chief financial officer owned 140,416 shares of the company’s stock, valued at approximately $5,703,697.92. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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.

Vaibhav Agarwal also recently made the following trade(s):

• 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 transaction of $678,644.40.
• On Monday, February 23rd, Vaibhav Agarwal sold 10,744 shares of RingCentral stock. The stock was sold at an average price of $35.50, for a total value of $381,412.00.

RingCentral Trading Up 4.7%

RNG stock traded up $1.92 during trading on Tuesday, reaching $42.60. The stock had a trading volume of 1,996,138 shares, compared to its average volume of 2,281,505. The company has a market capitalization of $3.58 billion, a P/E ratio of 45.32, a PEG ratio of 1.25 and a beta of 1.13. The firm has a fifty day moving average price of $39.40 and a 200 day moving average price of $32.78. RingCentral, Inc. has a 1-year low of $23.59 and a 1-year high of $48.57.

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

RingCentral Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have commented on RNG. UBS Group set a $38.00 price target on shares of RingCentral in a research note on Friday, February 20th. Rosenblatt Securities boosted their price target on RingCentral from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Wells Fargo & Company boosted their price target on RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Weiss Ratings raised shares of RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. Finally, Piper Sandler raised their target price on shares of RingCentral from $28.00 to $37.00 and gave the company a “neutral” rating in a research note on Monday, February 23rd. Three equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, RingCentral presently has an average rating of “Hold” and an average price target of $43.00.

Institutional Trading of RingCentral

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. WealthCollab LLC boosted 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 acquiring an additional 259 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in RingCentral by 127.3% in the 1st quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock valued at $27,000 after purchasing an additional 410 shares during the period. EverSource Wealth Advisors LLC increased its stake in RingCentral by 269.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock valued at $29,000 after acquiring an additional 738 shares during the period. Rockefeller Capital Management L.P. increased its stake in RingCentral by 70.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock valued at $30,000 after acquiring an additional 424 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new position in RingCentral in the third quarter worth $30,000. 98.61% of the stock is owned by institutional investors and hedge funds.

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.