Insider Selling: RingCentral (NYSE:RNG) Director Sells $101,908.40 in Stock

RingCentral, Inc. (NYSE:RNG) Director Robert Theis sold 2,530 shares of RingCentral stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $40.28, for a total value of $101,908.40. Following the sale, the director directly owned 30,834 shares of the company’s stock, valued at approximately $1,241,993.52. This trade represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a document filed 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.

RingCentral Stock Down 2.2%

Shares of NYSE:RNG traded down $0.92 during mid-day trading on Thursday, reaching $40.07. 1,351,183 shares of the stock were exchanged, compared to its average volume of 1,443,254. The stock’s 50 day simple moving average is $40.75 and its 200-day simple moving average is $35.52. RingCentral, Inc. has a one year low of $23.59 and a one year high of $49.85. The company has a market cap of $3.36 billion, a P/E ratio of 42.63, a P/E/G ratio of 1.21 and a beta of 1.14.

RingCentral (NYSE:RNG) last announced its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The business had revenue of $644.20 million for the quarter, compared to analyst estimates of $642.73 million. During the same quarter in the previous year, the firm posted $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. Analysts anticipate that RingCentral, Inc. will post 2.78 EPS for the current fiscal year.

RingCentral Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have issued reports on RNG shares. Rosenblatt Securities upped their price target on shares of RingCentral from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Morgan Stanley boosted their price target on RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Robert W. Baird set a $45.00 target price on RingCentral in a research note on Friday, May 8th. Oppenheimer restated an “outperform” rating and issued a $50.00 price target on shares of RingCentral in a research note on Friday, May 8th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $40.00 price target on shares of RingCentral in a research note on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, RingCentral currently has an average rating of “Hold” and a consensus price target of $43.00.

Institutional Investors Weigh In On RingCentral

Several institutional investors and hedge funds have recently bought and sold shares of the company. Capital World Investors boosted its holdings in shares of RingCentral by 20.9% during the 3rd quarter. Capital World Investors now owns 11,735,991 shares of the software maker’s stock valued at $332,598,000 after acquiring an additional 2,031,861 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in RingCentral in the 3rd quarter valued at approximately $53,365,000. 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 valued at $82,935,000 after acquiring an additional 1,686,900 shares during the last quarter. 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 valued at $73,524,000 after acquiring an additional 1,187,437 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings 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 period. 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.