RingCentral (NYSE:RNG) CFO Vaibhav Agarwal Sells 4,044 Shares of Stock

RingCentral, Inc. (NYSE:RNG) CFO Vaibhav Agarwal sold 4,044 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $65.07, for a total value of $263,143.08. Following the transaction, the chief financial officer directly owned 161,048 shares in the company, valued at $10,479,393.36. The trade was a 2.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 Tuesday, August 18th, Vaibhav Agarwal sold 1,688 shares of RingCentral stock. The stock was sold at an average price of $65.50, for a total value of $110,564.00.
• On Tuesday, June 2nd, Vaibhav Agarwal sold 7,047 shares of RingCentral stock. The shares were sold at an average price of $46.17, for a total value of $325,359.99.

RingCentral Stock Performance

RNG stock opened at $67.07 on Tuesday. RingCentral, Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $68.45. The business’s 50-day moving average is $48.69 and its two-hundred day moving average is $41.96. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 53.66, a P/E/G ratio of 1.16 and a beta of 1.10.

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. Equities analysts predict that RingCentral, Inc. will post 2.88 earnings per share for the current year.

RingCentral Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.7%. This is a positive change from RingCentral’s previous quarterly dividend of $0.07. The ex-dividend date was Thursday, August 6th. RingCentral’s dividend payout ratio (DPR) is presently 40.00%.

Institutional Investors Weigh In On RingCentral

A number of institutional investors and hedge funds have recently bought and sold shares of RNG. WealthCollab LLC boosted its stake in shares of RingCentral by 59.7% in the first quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock worth $26,000 after acquiring an additional 259 shares during the period. Meeder Asset Management Inc. raised its stake in RingCentral by 127.3% during the 1st quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock valued at $27,000 after purchasing an additional 410 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in RingCentral by 269.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock worth $29,000 after purchasing an additional 738 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in RingCentral by 70.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock worth $30,000 after purchasing an additional 424 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in RingCentral in the 3rd quarter worth approximately $30,000. 98.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on RNG shares. Mizuho lifted their price target on shares of RingCentral from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Jefferies Financial Group reiterated a “hold” rating and set a $40.00 target price on shares of RingCentral in a research report on Saturday, May 9th. Robert W. Baird set a $45.00 price target on RingCentral in a research report on Friday, May 8th. Morgan Stanley lifted their price objective on RingCentral from $33.00 to $40.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Finally, Piper Sandler boosted their price objective on RingCentral from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Three equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, RingCentral currently has an average rating of “Hold” and a consensus target price of $44.40.

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.