Ringcentral, Inc. (NYSE:RNG) insider Praful Shah sold 10,000 shares of Ringcentral stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $43.32, for a total transaction of $433,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Praful Shah also recently made the following trade(s):

  • On Tuesday, September 19th, Praful Shah sold 10,000 shares of Ringcentral stock. The stock was sold at an average price of $41.08, for a total transaction of $410,800.00.
  • On Tuesday, August 22nd, Praful Shah sold 10,000 shares of Ringcentral stock. The stock was sold at an average price of $37.98, for a total transaction of $379,800.00.

Ringcentral, Inc. (RNG) remained flat at $43.90 during trading on Thursday. The company had a trading volume of 415,812 shares. The stock’s 50 day moving average price is $40.87 and its 200 day moving average price is $35.35. The stock’s market cap is $3.36 billion. Ringcentral, Inc. has a 12 month low of $19.35 and a 12 month high of $44.70.

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

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Several research analysts have issued reports on RNG shares. BidaskClub lowered shares of Ringcentral from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Summit Redstone reiterated a “buy” rating and set a $40.00 price objective (up from $36.00) on shares of Ringcentral in a research report on Thursday, August 3rd. Northland Securities set a $43.00 price objective on shares of Ringcentral and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Robert W. Baird cut shares of Ringcentral from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $38.80 to $41.00 in a research report on Thursday, August 10th. Finally, Zacks Investment Research upgraded shares of Ringcentral from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $40.15.

Institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. grew its position in Ringcentral by 66.1% in the second quarter. Sei Investments Co. now owns 31,255 shares of the software maker’s stock valued at $1,142,000 after purchasing an additional 12,442 shares in the last quarter. Vanguard Group Inc. grew its position in Ringcentral by 9.4% in the first quarter. Vanguard Group Inc. now owns 5,184,049 shares of the software maker’s stock valued at $146,709,000 after purchasing an additional 446,995 shares in the last quarter. SG Americas Securities LLC bought a new position in Ringcentral in the second quarter valued at $1,173,000. Federated Investors Inc. PA grew its position in Ringcentral by 58.3% in the second quarter. Federated Investors Inc. PA now owns 164,268 shares of the software maker’s stock valued at $6,004,000 after purchasing 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 first quarter. Bank of New York Mellon Corp now owns 242,343 shares of the software maker’s stock valued at $6,858,000 after purchasing an additional 5,627 shares in the last quarter. 75.22% of the stock is owned by institutional investors and hedge funds.

Ringcentral Company Profile

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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