Ringcentral, Inc. (NYSE:RNG) CFO Mitesh Dhruv sold 3,000 shares of Ringcentral stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $43.72, for a total transaction of $131,160.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mitesh Dhruv also recently made the following trade(s):

  • On Thursday, September 14th, Mitesh Dhruv sold 3,000 shares of Ringcentral stock. The shares were sold at an average price of $41.37, for a total transaction of $124,110.00.
  • On Wednesday, August 23rd, Mitesh Dhruv sold 3,000 shares of Ringcentral stock. The shares were sold at an average price of $38.16, for a total transaction of $114,480.00.

Ringcentral, Inc. (NYSE RNG) traded down 0.68% during mid-day trading on Wednesday, reaching $43.90. 464,249 shares of the company were exchanged. Ringcentral, Inc. has a 12 month low of $19.35 and a 12 month high of $44.70. The stock’s market capitalization is $3.36 billion. The company’s 50 day moving average price is $40.75 and its 200-day moving average price is $35.28.

Ringcentral (NYSE:RNG) last released its quarterly earnings data on Wednesday, August 2nd. The software maker reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.01. Ringcentral had a negative net margin of 6.77% and a negative return on equity of 19.59%. The business had revenue of $119.40 million for the quarter, compared to analysts’ expectations of $118.19 million. During the same quarter last year, the company earned $0.02 EPS. The company’s revenue for the quarter was up 30.1% compared to the same quarter last year. On average, equities analysts expect that Ringcentral, Inc. will post $0.17 earnings per share for the current fiscal year.

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Several analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Ringcentral from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Wednesday. BidaskClub raised shares of Ringcentral from a “hold” rating to a “buy” rating in a report on Wednesday, August 16th. Northland Securities reaffirmed an “outperform” rating and issued a $46.00 target price (up previously from $43.00) on shares of Ringcentral in a report on Tuesday. Craig Hallum reaffirmed a “buy” rating and issued a $40.00 target price (up previously from $35.00) on shares of Ringcentral in a report on Thursday, August 3rd. Finally, Stephens reaffirmed an “overweight” rating and issued a $44.00 target price on shares of Ringcentral in a report on Sunday, June 25th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $40.15.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sei Investments Co. grew its position in Ringcentral by 66.1% in the 2nd quarter. Sei Investments Co. now owns 31,255 shares of the software maker’s stock valued at $1,142,000 after buying an additional 12,442 shares in the last quarter. Vanguard Group Inc. grew its position in Ringcentral by 9.4% in the 1st quarter. Vanguard Group Inc. now owns 5,184,049 shares of the software maker’s stock valued at $146,709,000 after buying an additional 446,995 shares in the last quarter. SG Americas Securities LLC bought a new position in Ringcentral in the 2nd quarter valued at about $1,173,000. Federated Investors Inc. PA grew its position in Ringcentral by 58.3% in the 2nd quarter. Federated Investors Inc. PA now owns 164,268 shares of the software maker’s stock valued at $6,004,000 after buying an additional 60,468 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Ringcentral by 2.4% in the 1st quarter. Bank of New York Mellon Corp now owns 242,343 shares of the software maker’s stock valued at $6,858,000 after buying an additional 5,627 shares in the last quarter. Hedge funds and other institutional investors own 75.22% of the company’s stock.

About Ringcentral

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.

Insider Buying and Selling by Quarter for Ringcentral (NYSE:RNG)

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