Ringcentral, Inc. (RNG) COO David Sipes Sells 7,800 Shares
Ringcentral, Inc. (NYSE:RNG) COO David Sipes sold 7,800 shares of the company’s stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $43.32, for a total transaction of $337,896.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
David Sipes also recently made the following trade(s):
- On Monday, October 2nd, David Sipes sold 3,000 shares of Ringcentral stock. The shares were sold at an average price of $44.01, for a total transaction of $132,030.00.
- On Wednesday, September 13th, David Sipes sold 7,800 shares of Ringcentral stock. The shares were sold at an average price of $42.11, for a total transaction of $328,458.00.
- On Wednesday, August 23rd, David Sipes sold 13,800 shares of Ringcentral stock. The shares were sold at an average price of $38.64, for a total transaction of $533,232.00.
Shares of Ringcentral, Inc. (NYSE:RNG) remained flat at $43.40 during mid-day trading on Thursday. The stock had a trading volume of 316,781 shares. Ringcentral, Inc. has a one year low of $19.35 and a one year high of $44.95. The company’s market capitalization is $3.33 billion. The stock has a 50 day moving average of $41.66 and a 200 day moving average of $35.95.
Ringcentral (NYSE:RNG) last issued its earnings results on Wednesday, August 2nd. The software maker reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.01. Ringcentral had a negative return on equity of 19.59% and a negative net margin of 6.77%. The business had revenue of $119.40 million during the quarter, compared to analysts’ expectations of $118.19 million. During the same quarter in the previous year, the business earned $0.02 EPS. The company’s revenue for the quarter was up 30.1% on a year-over-year basis. Equities research analysts predict that Ringcentral, Inc. will post $0.17 earnings per share for the current year.
ILLEGAL ACTIVITY NOTICE: “Ringcentral, Inc. (RNG) COO David Sipes Sells 7,800 Shares” was published by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another domain, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/10/12/ringcentral-inc-rng-coo-david-sipes-sells-7800-shares.html.
A number of equities research analysts recently issued reports on the stock. BidaskClub raised shares of Ringcentral from a “hold” rating to a “buy” rating in a report on Wednesday, August 16th. Craig Hallum reissued a “buy” rating and issued a $40.00 price objective (up previously from $35.00) on shares of Ringcentral in a report on Thursday, August 3rd. Stephens reaffirmed an “overweight” rating and set a $44.00 target price on shares of Ringcentral in a research note on Sunday, June 25th. Northland Securities reaffirmed a “buy” rating and set a $37.00 target price on shares of Ringcentral in a research note on Friday, June 23rd. Finally, Oppenheimer Holdings, Inc. increased their target price on shares of Ringcentral from $33.00 to $45.00 in a research note on Thursday, July 13th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Ringcentral has an average rating of “Buy” and an average price target of $40.15.
Several large investors have recently modified their holdings of RNG. BlackRock Inc. grew its holdings in shares of Ringcentral by 64,315.0% during the 1st quarter. BlackRock Inc. now owns 3,827,538 shares of the software maker’s stock worth $108,320,000 after purchasing an additional 3,821,596 shares during the period. FMR LLC boosted its holdings in Ringcentral by 399.9% in the 1st quarter. FMR LLC now owns 2,073,108 shares of the software maker’s stock worth $58,668,000 after acquiring an additional 1,658,408 shares during the period. Capital World Investors boosted its holdings in Ringcentral by 23.9% in the 2nd quarter. Capital World Investors now owns 6,599,000 shares of the software maker’s stock worth $241,193,000 after acquiring an additional 1,275,000 shares during the period. Whale Rock Capital Management LLC purchased a new position in Ringcentral in the 2nd quarter worth approximately $39,450,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in Ringcentral in the 1st quarter worth approximately $15,197,000. Institutional investors and hedge funds own 75.22% of the company’s stock.
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.