Ringcentral, Inc. (NYSE:RNG) CEO Vladimir Shmunis sold 73,000 shares of the stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $43.43, for a total value of $3,170,390.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Vladimir Shmunis also recently made the following trade(s):

  • On Tuesday, September 12th, Vladimir Shmunis sold 6,000 shares of Ringcentral stock. The stock was sold at an average price of $42.37, for a total value of $254,220.00.
  • On Monday, September 11th, Vladimir Shmunis sold 6,000 shares of Ringcentral stock. The stock was sold at an average price of $42.30, for a total value of $253,800.00.
  • On Wednesday, September 13th, Vladimir Shmunis sold 73,000 shares of Ringcentral stock. The stock was sold at an average price of $42.25, for a total value of $3,084,250.00.
  • On Wednesday, August 23rd, Vladimir Shmunis sold 101,452 shares of Ringcentral stock. The stock was sold at an average price of $38.20, for a total value of $3,875,466.40.

Ringcentral, Inc. (NYSE RNG) remained flat at $43.40 during mid-day trading on Thursday. 316,781 shares of the company were exchanged. The firm’s market cap is $3.33 billion. The firm’s 50-day moving average is $41.66 and its 200 day moving average is $35.95. Ringcentral, Inc. has a 12-month low of $19.35 and a 12-month high of $44.95.

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

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A number of research analysts have recently commented on RNG shares. Zacks Investment Research raised Ringcentral from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Wednesday, October 4th. Northland Securities reissued an “outperform” rating and set a $46.00 price objective (up previously from $43.00) on shares of Ringcentral in a report on Tuesday, October 3rd. BidaskClub raised Ringcentral from a “hold” rating to a “buy” rating in a report on Wednesday, August 16th. Robert W. Baird lowered Ringcentral from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $38.80 to $41.00 in a report on Thursday, August 10th. Finally, Dougherty & Co reissued a “buy” rating and set a $40.00 price objective (up previously from $36.00) on shares of Ringcentral in a report on Wednesday, August 9th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Ringcentral currently has an average rating of “Buy” and a consensus target price of $40.15.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Aperio Group LLC increased its position in Ringcentral by 1.5% during the second quarter. Aperio Group LLC now owns 11,457 shares of the software maker’s stock worth $419,000 after buying an additional 169 shares during the last quarter. Falcon Point Capital LLC increased its position in Ringcentral by 3.2% during the second quarter. Falcon Point Capital LLC now owns 9,356 shares of the software maker’s stock worth $342,000 after buying an additional 288 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in Ringcentral by 8.3% during the second quarter. Ameritas Investment Partners Inc. now owns 5,480 shares of the software maker’s stock worth $200,000 after buying an additional 418 shares during the last quarter. Suntrust Banks Inc. increased its position in Ringcentral by 5.5% during the second quarter. Suntrust Banks Inc. now owns 9,970 shares of the software maker’s stock worth $364,000 after buying an additional 523 shares during the last quarter. Finally, Amalgamated Bank increased its position in Ringcentral by 11.5% during the second quarter. Amalgamated Bank now owns 8,006 shares of the software maker’s stock worth $293,000 after buying an additional 825 shares during the last quarter. 75.22% of the stock is currently owned by hedge funds and other institutional investors.

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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