Ringcentral, Inc. (NYSE:RNG) COO David Sipes sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $44.01, for a total value of $132,030.00. The sale was disclosed in a filing with the SEC, which is available at this link.

David Sipes also recently made the following trade(s):

  • On Wednesday, September 13th, David Sipes sold 7,800 shares of Ringcentral stock. The stock was sold at an average price of $42.11, for a total value of $328,458.00.
  • On Wednesday, August 23rd, David Sipes sold 13,800 shares of Ringcentral stock. The stock was sold at an average price of $38.64, for a total value of $533,232.00.

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

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

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A number of equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded Ringcentral from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Wednesday. Northland Securities reiterated an “outperform” rating and set a $46.00 price objective (up previously from $43.00) on shares of Ringcentral in a research note on Tuesday. BidaskClub upgraded Ringcentral from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th. Robert W. Baird cut Ringcentral from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $38.80 to $41.00 in a research note on Thursday, August 10th. Finally, Dougherty & Co reiterated a “buy” rating and set a $40.00 price objective (up previously from $36.00) on shares of Ringcentral in a research note on Wednesday, August 9th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $40.15.

A number of institutional investors have recently modified their holdings of the stock. Capital World Investors raised its stake in shares of Ringcentral by 23.9% in the second quarter. Capital World Investors now owns 6,599,000 shares of the software maker’s stock valued at $241,193,000 after buying an additional 1,275,000 shares during the period. Vanguard Group Inc. raised its stake in shares of Ringcentral by 2.9% in the second quarter. Vanguard Group Inc. now owns 5,335,616 shares of the software maker’s stock valued at $195,017,000 after buying an additional 151,567 shares during the period. BlackRock Inc. raised its stake in shares of Ringcentral by 11.6% in the second quarter. BlackRock Inc. now owns 4,272,844 shares of the software maker’s stock valued at $156,173,000 after buying an additional 445,306 shares during the period. Gilder Gagnon Howe & Co. LLC raised its stake in shares of Ringcentral by 0.5% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 3,457,172 shares of the software maker’s stock valued at $126,360,000 after buying an additional 18,631 shares during the period. Finally, FMR LLC raised its stake in shares of Ringcentral by 40.1% in the second quarter. FMR LLC now owns 2,905,422 shares of the software maker’s stock valued at $106,193,000 after buying an additional 832,314 shares during the period. Institutional investors and hedge funds 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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