Insider Selling: RingCentral (NYSE:RNG) Director Sells $101,908.40 in Stock

RingCentral, Inc. (NYSE:RNG) Director Robert Theis sold 2,530 shares of RingCentral stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $40.28, for a total value of $101,908.40. Following the sale, the director owned 30,834 shares of the company’s stock, valued at approximately $1,241,993.52. This represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

RingCentral Stock Performance

NYSE:RNG opened at $40.07 on Friday. The stock’s 50 day moving average price is $40.72 and its 200 day moving average price is $35.55. RingCentral, Inc. has a 52 week low of $23.59 and a 52 week high of $49.85. The company has a market capitalization of $3.36 billion, a P/E ratio of 42.63, a P/E/G ratio of 1.18 and a beta of 1.14.

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 firm had revenue of $644.20 million during the quarter, compared to analysts’ expectations of $642.73 million. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $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. As a group, sell-side analysts forecast that RingCentral, Inc. will post 2.78 earnings per share for the current fiscal year.

RingCentral Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, June 2nd. RingCentral’s payout ratio is presently 31.91%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RNG. Invenomic Capital Management LP boosted its holdings in RingCentral by 3.9% during the third quarter. Invenomic Capital Management LP now owns 1,482,447 shares of the software maker’s stock valued at $42,013,000 after acquiring an additional 55,088 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of RingCentral in the third quarter worth about $843,000. Clark Capital Management Group Inc. increased its stake in shares of RingCentral by 103.3% in the third quarter. Clark Capital Management Group Inc. now owns 303,455 shares of the software maker’s stock worth $8,600,000 after purchasing an additional 154,188 shares during the period. Robertson Stephens Wealth Management LLC lifted its position in shares of RingCentral by 124.7% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 90,311 shares of the software maker’s stock worth $2,608,000 after purchasing an additional 50,122 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of RingCentral by 12.1% during the 3rd quarter. First Trust Advisors LP now owns 1,608,188 shares of the software maker’s stock worth $45,576,000 after purchasing an additional 173,616 shares during the last quarter. 98.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RNG has been the topic of several analyst reports. Morgan Stanley increased their target price on shares of RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Needham & Company LLC boosted their price target on RingCentral from $36.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Jefferies Financial Group reiterated a “hold” rating and set a $40.00 price target on shares of RingCentral in a research note on Saturday, May 9th. Oppenheimer reissued an “outperform” rating and set a $50.00 price objective on shares of RingCentral in a report on Friday, May 8th. Finally, Robert W. Baird set a $45.00 price objective on RingCentral in a research note on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $43.00.

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.