Tarun Arora Sells 675 Shares of RingCentral (NYSE:RNG) Stock

RingCentral, Inc. (NYSE:RNG) CAO Tarun Arora sold 675 shares of RingCentral stock in a transaction on Tuesday, August 25th. The stock was 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 of the company’s stock, valued at $5,376,372.05. The trade was a 0.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 shares were sold at an average price of $43.00, for a total value of $155,445.00.

RingCentral Stock Performance

Shares of NYSE:RNG opened at $66.18 on Thursday. The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 52.94, a PEG ratio of 1.14 and a beta of 1.10. The stock’s 50-day simple moving average is $49.85 and its two-hundred day simple moving average is $42.52. RingCentral, Inc. has a 52-week low of $24.14 and a 52-week high of $68.45.

RingCentral (NYSE:RNG) last released its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.The business had revenue of $657.01 million during the quarter, compared to the consensus estimate of $650.53 million. During the same period in the previous year, the company posted $1.06 EPS. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. As a group, equities analysts forecast that RingCentral, Inc. will post 2.89 earnings per share for the current fiscal year.

RingCentral Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were issued a dividend of $0.125 per share. 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 yield of 0.8%. The ex-dividend date of this dividend was Thursday, August 6th. RingCentral’s dividend payout ratio is currently 40.00%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RNG shares. Morgan Stanley lifted their price target on shares of RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Rosenblatt Securities restated a “buy” rating and issued a $50.00 price objective on shares of RingCentral in a research note on Friday, July 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RingCentral in a report on Friday, July 17th. Mizuho lifted their target price on RingCentral from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Finally, Wells Fargo & Company boosted their price target on RingCentral from $43.00 to $65.00 and gave the company an “equal weight” rating in a report on Tuesday. 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.com, the company currently has a consensus rating of “Hold” and an average target price of $46.60.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RNG. California State Teachers Retirement System raised its stake in RingCentral by 3,720.4% during the second quarter. California State Teachers Retirement System now owns 3,166,501 shares of the software maker’s stock valued at $123,430,000 after purchasing an additional 3,083,616 shares in the last quarter. LSV Asset Management grew its stake in shares of RingCentral by 142.4% in the 4th quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock worth $82,935,000 after buying an additional 1,686,900 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of RingCentral by 35.4% in the 4th quarter. AQR Capital Management LLC now owns 2,003,950 shares of the software maker’s stock worth $57,874,000 after buying an additional 523,966 shares during the last quarter. Quantinno Capital Management LP increased its holdings in shares of RingCentral by 150.4% in the 1st quarter. Quantinno Capital Management LP now owns 1,976,995 shares of the software maker’s stock worth $73,524,000 after buying an additional 1,187,437 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of RingCentral during the 3rd quarter valued at about $53,365,000. 98.61% of the stock is currently owned by 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.