Insider Selling: RingCentral (NYSE:RNG) CAO Sells $45,528.75 in Stock

RingCentral, Inc. (NYSE:RNG) CAO Tarun Arora sold 675 shares of RingCentral stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $67.45, for a total value of $45,528.75. Following the completion of the sale, the chief accounting officer directly owned 79,709 shares in the company, valued at $5,376,372.05. This represents a 0.84% 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.

Tarun Arora also recently made the following trade(s):

• On Friday, August 21st, Tarun Arora sold 1,876 shares of RingCentral stock. The shares were sold at an average price of $65.26, for a total value of $122,427.76.
• On Friday, May 29th, Tarun Arora sold 3,615 shares of RingCentral stock. The stock was sold at an average price of $43.00, for a total transaction of $155,445.00.

RingCentral Trading Up 3.5%

RNG stock opened at $68.40 on Friday. The company’s 50-day moving average price is $50.51 and its 200 day moving average price is $42.81. RingCentral, Inc. has a 52 week low of $24.14 and a 52 week high of $69.78. The company has a market cap of $5.71 billion, a P/E ratio of 54.72, a P/E/G ratio of 1.14 and a beta of 1.10.

RingCentral (NYSE:RNG) last announced its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.22 EPS for the quarter, topping the consensus estimate of $1.16 by $0.06. The business had revenue of $657.01 million for the quarter, compared to analyst estimates of $650.53 million. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.06 EPS. 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, equities research analysts expect that RingCentral, Inc. will post 2.89 earnings per share for the current year.

RingCentral Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were given a $0.125 dividend. This is an increase from RingCentral’s previous quarterly dividend of $0.07. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, August 6th. RingCentral’s dividend payout ratio (DPR) is 40.00%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of RingCentral during the 1st quarter valued at $697,000. Robertson Stephens Wealth Management LLC boosted its position in RingCentral by 124.7% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 90,311 shares of the software maker’s stock worth $2,608,000 after purchasing an additional 50,122 shares during the period. LSV Asset Management increased its holdings in RingCentral by 142.4% in the 4th 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 in the last quarter. Jupiter Asset Management Ltd. increased its holdings in RingCentral by 11.4% in the 4th 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 in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in 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 valued at $8,096,000 after purchasing an additional 105,145 shares during the period. 98.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RNG has been the topic of several recent research reports. Morgan Stanley upped their price target on shares of RingCentral from $33.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Weiss Ratings restated a “hold (c)” rating on shares of RingCentral in a research report on Friday, July 17th. Oppenheimer reaffirmed an “outperform” rating and issued a $50.00 target price on shares of RingCentral in a research note on Friday, May 8th. Rosenblatt Securities reiterated a “buy” rating and set a $50.00 target price on shares of RingCentral in a report on Friday, July 24th. Finally, Needham & Company LLC reissued a “buy” rating on shares of RingCentral in a research report on Monday, July 20th. Three investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.