Ringcentral, Inc. (NYSE:RNG) CEO Vladimir Shmunis sold 48,666 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $47.12, for a total transaction of $2,293,141.92. Following the transaction, the chief executive officer now owns 355,041 shares in the company, valued at $16,729,531.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

  • On Monday, November 20th, Vladimir Shmunis sold 6,000 shares of Ringcentral stock. The stock was sold at an average price of $48.23, for a total transaction of $289,380.00.
  • On Wednesday, November 22nd, Vladimir Shmunis sold 101,453 shares of Ringcentral stock. The stock was sold at an average price of $48.34, for a total transaction of $4,904,238.02.
  • On Wednesday, October 11th, Vladimir Shmunis sold 6,000 shares of Ringcentral stock. The stock was sold at an average price of $43.31, for a total transaction of $259,860.00.
  • On Tuesday, October 10th, Vladimir Shmunis sold 7,808 shares of Ringcentral stock. The stock was sold at an average price of $43.65, for a total transaction of $340,819.20.
  • On Thursday, October 12th, Vladimir Shmunis sold 73,000 shares of Ringcentral stock. The stock was sold at an average price of $43.43, for a total transaction of $3,170,390.00.
  • 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 transaction of $3,084,250.00.

Shares of Ringcentral, Inc. (RNG) traded down $0.95 during mid-day trading on Tuesday, hitting $46.60. 625,528 shares of the company traded hands, compared to its average volume of 662,459. Ringcentral, Inc. has a 1-year low of $20.55 and a 1-year high of $49.95.

Ringcentral (NYSE:RNG) last announced its earnings results on Wednesday, November 8th. The software maker reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. The business had revenue of $129.76 million during the quarter, compared to the consensus estimate of $126.06 million. Ringcentral had a negative net margin of 5.80% and a negative return on equity of 17.97%. Ringcentral’s revenue was up 34.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 EPS. analysts forecast that Ringcentral, Inc. will post -0.33 earnings per share for the current fiscal year.

Several research analysts have recently weighed in on the stock. J P Morgan Chase & Co lowered shares of Ringcentral from an “overweight” rating to a “neutral” rating and set a $52.00 price objective on the stock. in a research note on Tuesday. Oppenheimer boosted their price objective on shares of Ringcentral from $50.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 6th. Zacks Investment Research lowered shares of Ringcentral from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Northland Securities restated a “buy” rating and set a $46.00 price objective on shares of Ringcentral in a research note on Friday, November 10th. Finally, Craig Hallum restated a “buy” rating and set a $50.00 price objective (up from $40.00) on shares of Ringcentral in a research note on Thursday, November 9th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $45.14.

Hedge funds have recently made changes to their positions in the stock. Sei Investments Co. boosted its holdings 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 purchasing an additional 12,442 shares during the period. SG Americas Securities LLC bought a new stake in Ringcentral in the 2nd quarter valued at about $1,173,000. Federated Investors Inc. PA boosted its holdings 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 purchasing an additional 60,468 shares during the period. State Street Corp boosted its holdings in Ringcentral by 7.3% in the 2nd quarter. State Street Corp now owns 1,253,662 shares of the software maker’s stock valued at $45,824,000 after purchasing an additional 85,404 shares during the period. Finally, FMR LLC boosted its holdings in Ringcentral by 40.1% in the 2nd quarter. FMR LLC now owns 2,905,422 shares of the software maker’s stock valued at $106,193,000 after purchasing an additional 832,314 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: This news story was reported by American Banking News and is the property of of American Banking News. If you are reading this news story on another publication, it was illegally stolen and republished in violation of United States & international copyright & trademark law. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/12/12/ringcentral-inc-rng-ceo-sells-2293141-92-in-stock.html.

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)

Receive News & Ratings for Ringcentral Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ringcentral and related companies with MarketBeat.com's FREE daily email newsletter.