Ringcentral, Inc. (NYSE:RNG) COO David Sipes sold 9,300 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $48.08, for a total value of $447,144.00. Following the completion of the transaction, the chief operating officer now owns 273,281 shares in the company, valued at $13,139,350.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

  • On Tuesday, November 28th, David Sipes sold 15,270 shares of Ringcentral stock. The stock was sold at an average price of $49.06, for a total value of $749,146.20.
  • On Monday, October 16th, David Sipes sold 1,500 shares of Ringcentral stock. The stock was sold at an average price of $44.00, for a total value of $66,000.00.
  • On Wednesday, October 11th, David Sipes sold 7,800 shares of Ringcentral stock. The stock was sold at an average price of $43.32, for a total value of $337,896.00.
  • On Monday, October 2nd, David Sipes sold 3,000 shares of Ringcentral stock. The stock was sold at an average price of $44.01, for a total value of $132,030.00.

Ringcentral, Inc. (RNG) traded down $0.55 on Thursday, hitting $47.55. The company’s stock had a trading volume of 438,590 shares, compared to its average volume of 660,613. Ringcentral, Inc. has a 1 year low of $20.55 and a 1 year high of $49.95.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. raised its stake in shares of 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 acquired a new stake in shares of Ringcentral in the 2nd quarter valued at about $1,173,000. Federated Investors Inc. PA raised its stake in shares of 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 raised its stake in shares of 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, Bank of Nova Scotia acquired a new stake in shares of Ringcentral in the 2nd quarter valued at about $1,871,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages recently commented on RNG. 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 research note on Wednesday, October 4th. Jefferies Group reaffirmed a “buy” rating and set a $48.00 price objective on shares of Ringcentral in a research note on Thursday, October 19th. J P Morgan Chase & Co downgraded 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. Bank of America raised their price objective on Ringcentral from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Finally, Northland Securities reaffirmed a “buy” rating and set a $46.00 price objective on shares of Ringcentral in a research note on Friday, November 10th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $45.14.

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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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