Ringcentral, Inc. (RNG) CAO Sells $214,080.00 in Stock
Ringcentral, Inc. (NYSE:RNG) CAO John H. Marlow sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $35.68, for a total transaction of $214,080.00. Following the completion of the sale, the chief accounting officer now directly owns 136,830 shares of the company’s stock, valued at $4,882,094.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
John H. Marlow also recently made the following trade(s):
- On Tuesday, May 23rd, John H. Marlow sold 3,000 shares of Ringcentral stock. The stock was sold at an average price of $34.10, for a total transaction of $102,300.00.
Ringcentral, Inc. (NYSE RNG) traded down 0.42% during mid-day trading on Wednesday, reaching $35.60. 614,097 shares of the company traded hands. The firm’s market cap is $2.68 billion. Ringcentral, Inc. has a one year low of $18.54 and a one year high of $38.50. The stock’s 50-day moving average price is $33.81 and its 200-day moving average price is $26.97.
Ringcentral (NYSE:RNG) last issued its quarterly earnings results on Tuesday, April 25th. The software maker reported ($0.09) EPS for the quarter, hitting the consensus estimate of ($0.09). Ringcentral had a negative net margin of 7.41% and a negative return on equity of 20.12%. The company had revenue of $111.80 million during the quarter, compared to analysts’ expectations of $110.35 million. During the same quarter in the previous year, the company earned $0.01 EPS. Ringcentral’s revenue was up 29.2% on a year-over-year basis. Analysts forecast that Ringcentral, Inc. will post $0.16 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of RNG. Russell Investments Group Ltd. acquired a new stake in shares of Ringcentral during the fourth quarter valued at approximately $1,102,000. Cadence Capital Management LLC boosted its stake in shares of Ringcentral by 2.6% in the fourth quarter. Cadence Capital Management LLC now owns 19,892 shares of the software maker’s stock valued at $410,000 after buying an additional 496 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Ringcentral by 0.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 20,258 shares of the software maker’s stock valued at $417,000 after buying an additional 140 shares in the last quarter. State Street Corp boosted its stake in shares of Ringcentral by 3.9% in the fourth quarter. State Street Corp now owns 1,167,643 shares of the software maker’s stock valued at $24,052,000 after buying an additional 43,897 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Ringcentral by 36.1% in the fourth quarter. FMR LLC now owns 414,700 shares of the software maker’s stock valued at $8,543,000 after buying an additional 110,000 shares in the last quarter. Institutional investors own 72.40% of the company’s stock.
A number of analysts have recently weighed in on RNG shares. Jefferies Group LLC upped their price target on shares of Ringcentral from $32.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Dougherty & Co started coverage on shares of Ringcentral in a research note on Wednesday, April 26th. They issued a “buy” rating and a $36.00 price target for the company. William Blair reaffirmed an “outperform” rating on shares of Ringcentral in a research note on Tuesday, February 14th. CIBC upped their price target on shares of Ringcentral from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 2nd. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $33.00 price target (up from $32.00) on shares of Ringcentral in a research note on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the stock. Ringcentral has an average rating of “Buy” and a consensus target price of $30.78.
RingCentral, Inc is a provider of software-as-a-service (SaaS) solutions for businesses to support modern communications. The Company’s cloud-based business communications solutions provide a single user identity across multiple locations and devices, including smartphones, tablets, personal computers (PCs) and desk phones, and allow for communication across multiple channels, including high definition (HD) voice, video, short messaging service (SMS), messaging and collaboration, conferencing, online meetings, and fax.
Receive News & Ratings for Ringcentral Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ringcentral Inc. and related companies with MarketBeat.com's FREE daily email newsletter.