RingCentral (NYSE:RNG) CFO Sells $90,176.40 in Stock

RingCentral, Inc. (NYSE:RNG) CFO Vaibhav Agarwal sold 2,220 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $40.62, for a total value of $90,176.40. Following the completion of the sale, the chief financial officer owned 140,416 shares of the company’s stock, valued at $5,703,697.92. The trade was a 1.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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, 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 value of $678,644.40.
• On Monday, February 23rd, Vaibhav Agarwal sold 10,744 shares of RingCentral stock. The shares were sold at an average price of $35.50, for a total value of $381,412.00.

RingCentral Stock Performance

Shares of NYSE RNG opened at $42.28 on Friday. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 44.98, a PEG ratio of 1.32 and a beta of 1.13. The stock has a 50 day moving average price of $39.47 and a 200 day moving average price of $33.05. RingCentral, Inc. has a 52-week low of $23.59 and a 52-week high of $48.57.

RingCentral (NYSE:RNG) last announced its quarterly earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. The firm had revenue of $644.20 million during the quarter, compared to analyst estimates of $642.73 million. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.RingCentral’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 earnings per share. 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 forecast 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. This represents a $0.30 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, June 2nd. RingCentral’s dividend payout ratio (DPR) is 31.91%.

Hedge Funds Weigh In On RingCentral

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position 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 in the last quarter. Capital World Investors increased its position in shares of RingCentral by 20.9% in 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 during the period. LSV Asset Management increased its position 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 valued at $82,935,000 after acquiring an additional 1,686,900 shares during the period. AQR Capital Management LLC increased its position 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 valued at $57,874,000 after acquiring an additional 523,966 shares during the period. Finally, Quantinno Capital Management LP increased its position 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 valued at $73,524,000 after acquiring an additional 1,187,437 shares during the period. 98.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Needham & Company LLC boosted their price target on RingCentral from $36.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Weiss Ratings raised RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Jefferies Financial Group reissued a “hold” rating and issued a $40.00 price target on shares of RingCentral in a research report on Saturday, May 9th. UBS Group set a $38.00 price target on RingCentral in a research report on Friday, February 20th. Finally, Wells Fargo & Company boosted their price target on RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $43.00.

RingCentral Company Profile

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.