RingCentral (NYSE:RNG) CFO Sells $170,090.64 in Stock

RingCentral, Inc. (NYSE:RNG) CFO Vaibhav Agarwal sold 4,044 shares of RingCentral stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $42.06, for a total transaction of $170,090.64. Following the sale, the chief financial officer owned 132,181 shares of the company’s stock, valued at $5,559,532.86. The trade was a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Vaibhav Agarwal also recently made the following trade(s):

• On Monday, May 18th, Vaibhav Agarwal sold 2,220 shares of RingCentral stock. The shares were sold at an average price of $40.62, for a total transaction of $90,176.40.
• On Monday, March 2nd, Vaibhav Agarwal sold 18,680 shares of RingCentral stock. The shares were sold at an average price of $36.33, for a total transaction of $678,644.40.
• On Monday, February 23rd, Vaibhav Agarwal sold 10,744 shares of RingCentral stock. The shares were sold at an average price of $35.50, for a total transaction of $381,412.00.

RingCentral Price Performance

NYSE RNG opened at $43.57 on Monday. The company has a market capitalization of $3.66 billion, a PE ratio of 46.35, a P/E/G ratio of 1.28 and a beta of 1.13. The company has a fifty day moving average of $39.56 and a 200 day moving average of $33.15. RingCentral, Inc. has a 1 year low of $23.59 and a 1 year high of $48.57.

RingCentral (NYSE:RNG) last posted its earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. The company had revenue of $644.20 million during the quarter, compared to the consensus estimate of $642.73 million. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 earnings per share. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. Research analysts expect that RingCentral, Inc. will post 2.79 earnings per share for the current year.

RingCentral Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd will be given a dividend of $0.075 per share. The ex-dividend date is Tuesday, June 2nd. This represents a $0.30 dividend on an annualized basis and a yield of 0.7%. RingCentral’s payout ratio is currently 31.91%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RNG. Wells Fargo & Company boosted their target price on shares of RingCentral from $32.00 to $43.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Jefferies Financial Group restated a “hold” rating and set a $40.00 target price on shares of RingCentral in a research report on Saturday, May 9th. Weiss Ratings upgraded shares of RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Needham & Company LLC upped their price objective on shares of RingCentral from $36.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Finally, Piper Sandler upped their price objective on shares of RingCentral from $28.00 to $37.00 and gave the stock a “neutral” rating in a research report on Monday, February 23rd. Three analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $43.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Janus Henderson Group PLC raised its position in shares of RingCentral by 412.7% in the first quarter. Janus Henderson Group PLC now owns 177,966 shares of the software maker’s stock worth $6,620,000 after acquiring an additional 143,254 shares during the period. California State Teachers Retirement System raised its position in shares of RingCentral by 14.3% in the first quarter. California State Teachers Retirement System now owns 82,885 shares of the software maker’s stock worth $3,082,000 after acquiring an additional 10,341 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of RingCentral by 10.0% in the first quarter. The Manufacturers Life Insurance Company now owns 13,750 shares of the software maker’s stock worth $511,000 after acquiring an additional 1,246 shares during the period. Quantinno Capital Management LP increased its stake in shares of RingCentral by 150.4% during the first quarter. Quantinno Capital Management LP now owns 1,976,995 shares of the software maker’s stock worth $73,524,000 after purchasing an additional 1,187,437 shares in the last quarter. Finally, Compound Planning Inc. purchased a new stake in shares of RingCentral during the first quarter worth about $237,000. Institutional investors and hedge funds own 98.61% of the company’s stock.

RingCentral Company Profile

RingCentral, Inc is a leading provider of cloud-based business communications and collaboration solutions. The company’s flagship platform delivers unified communications as a service (UCaaS), integrating voice over IP (VoIP) phone systems, video conferencing, team messaging and SMS into a single, cloud-native application. In addition to its UCaaS offering, RingCentral provides contact center as a service (CCaaS) capabilities, enabling organizations to manage customer interactions across voice, email, chat and social channels from a centralized dashboard.

Founded in 1999 and headquartered in Belmont, California, RingCentral went public on the New York Stock Exchange under the ticker RNG in 2013.