RingCentral (NYSE:RNG) CFO Vaibhav Agarwal Sells 7,047 Shares of Stock

RingCentral, Inc. (NYSE:RNG) CFO Vaibhav Agarwal sold 7,047 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $46.17, for a total value of $325,359.99. Following the completion of the transaction, the chief financial officer directly owned 169,282 shares of the company’s stock, valued at $7,815,749.94. This trade represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 Thursday, May 21st, Vaibhav Agarwal sold 4,044 shares of RingCentral stock. The shares were sold at an average price of $42.06, for a total value of $170,090.64.
• On Monday, May 18th, Vaibhav Agarwal sold 2,220 shares of RingCentral stock. The shares were sold at an average price of $40.62, for a total value of $90,176.40.

RingCentral Stock Down 5.6%

Shares of RNG opened at $46.35 on Wednesday. The stock has a 50 day moving average price of $40.29 and a 200 day moving average price of $33.85. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of 49.31, a price-to-earnings-growth ratio of 1.44 and a beta of 1.14. RingCentral, Inc. has a 52-week low of $23.59 and a 52-week high of $49.85.

RingCentral (NYSE:RNG) last issued its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 earnings per share 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 company had revenue of $644.20 million during the quarter, compared to analysts’ expectations of $642.73 million. During the same quarter in the previous year, the business earned $1.00 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. On average, equities analysts anticipate that RingCentral, Inc. will post 2.79 EPS for the current fiscal year.

RingCentral Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd will be paid a $0.075 dividend. The ex-dividend date is Tuesday, June 2nd. This represents a $0.30 dividend on an annualized basis and a yield of 0.6%. RingCentral’s payout ratio is currently 31.91%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RNG. Piper Sandler boosted their price objective on RingCentral from $28.00 to $37.00 and gave the company a “neutral” rating in a research note on Monday, February 23rd. Oppenheimer reiterated an “outperform” rating and issued a $50.00 price objective on shares of RingCentral in a research note on Friday, May 8th. Robert W. Baird set a $45.00 price objective on RingCentral in a research note on Friday, May 8th. Weiss Ratings upgraded RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. Finally, UBS Group set a $38.00 price target on RingCentral in a research note on Friday, February 20th. Three equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, RingCentral currently has a consensus rating of “Hold” and a consensus price target of $43.00.

Institutional Investors Weigh In On RingCentral

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of RingCentral by 1.1% during the third quarter. Vanguard Group Inc. now owns 11,823,636 shares of the software maker’s stock worth $335,082,000 after purchasing an additional 129,444 shares during the last quarter. Capital World Investors raised its stake in shares of RingCentral by 20.9% during the third quarter. Capital World Investors now owns 11,735,991 shares of the software maker’s stock worth $332,598,000 after purchasing an additional 2,031,861 shares during the last quarter. LSV Asset Management raised its stake in shares of RingCentral by 142.4% during the fourth quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock worth $82,935,000 after purchasing an additional 1,686,900 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of RingCentral by 35.4% during the fourth quarter. AQR Capital Management LLC now owns 2,003,950 shares of the software maker’s stock worth $57,874,000 after purchasing an additional 523,966 shares during the last quarter. Finally, Quantinno Capital Management LP raised its stake in shares of RingCentral by 150.4% during the first quarter. Quantinno Capital Management LP now owns 1,976,995 shares of the software maker’s stock worth $73,524,000 after purchasing an additional 1,187,437 shares during the last quarter. Hedge funds and other institutional investors own 98.61% of the company’s stock.

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.