RingCentral (NYSE:RNG) CFO Sells $170,090.64 in Stock

RingCentral, Inc. (NYSE:RNG) CFO Vaibhav Agarwal sold 4,044 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $42.06, for a total value of $170,090.64. Following the transaction, the chief financial officer owned 132,181 shares of the company’s stock, valued at $5,559,532.86. The trade was a 2.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 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.
• On Monday, March 2nd, Vaibhav Agarwal sold 18,680 shares of RingCentral stock. The shares were 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 transaction of $381,412.00.

RingCentral Price Performance

Shares of RNG traded up $1.35 during trading hours on Friday, hitting $43.57. The company’s stock had a trading volume of 1,022,704 shares, compared to its average volume of 2,255,352. The business has a 50 day simple moving average of $39.47 and a two-hundred day simple moving average of $33.05. RingCentral, Inc. has a 52-week low of $23.59 and a 52-week high of $48.57. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 46.35, a PEG ratio of 1.32 and a beta of 1.13.

RingCentral (NYSE:RNG) last announced its quarterly earnings results on Thursday, May 7th. The software maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. The company had revenue of $644.20 million for the quarter, compared to analysts’ expectations of $642.73 million. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. RingCentral’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company 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. Research analysts predict that RingCentral, Inc. will post 2.69 earnings per share for the current year.

RingCentral Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RNG. Mizuho boosted their price objective on RingCentral from $27.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. Wells Fargo & Company raised their target price on RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Jefferies Financial Group reaffirmed a “hold” rating and set a $40.00 target price on shares of RingCentral in a report on Saturday, May 9th. Morgan Stanley increased their price target on shares of RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Finally, Piper Sandler raised their price objective on shares of RingCentral from $28.00 to $37.00 and gave the company a “neutral” rating in a research report on Monday, February 23rd. Three equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, RingCentral currently has a consensus rating of “Hold” and an average target price of $43.00.

Hedge Funds Weigh In On RingCentral

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its stake in RingCentral by 412.7% in the 1st quarter. Janus Henderson Group PLC now owns 177,966 shares of the software maker’s stock worth $6,620,000 after acquiring an additional 143,254 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of RingCentral by 14.3% during the 1st quarter. California State Teachers Retirement System now owns 82,885 shares of the software maker’s stock valued at $3,082,000 after acquiring an additional 10,341 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of RingCentral by 10.0% during the first quarter. The Manufacturers Life Insurance Company now owns 13,750 shares of the software maker’s stock worth $511,000 after purchasing an additional 1,246 shares in the last quarter. Quantinno Capital Management LP grew its holdings 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 in the last quarter. Finally, Compound Planning Inc. bought a new position in shares of RingCentral in the first quarter worth approximately $237,000. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

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.