Insider Selling: RingCentral (NYSE:RNG) Director Sells $51,346.35 in Stock

RingCentral, Inc. (NYSE:RNG) Director Amy Guggenheim Shenkan sold 1,265 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $40.59, for a total transaction of $51,346.35. Following the sale, the director owned 29,372 shares of the company’s stock, valued at approximately $1,192,209.48. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

RingCentral Stock Up 0.2%

Shares of NYSE:RNG opened at $40.07 on Friday. The company has a 50 day moving average of $40.72 and a two-hundred day moving average of $35.55. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 42.63, a price-to-earnings-growth ratio of 1.18 and a beta of 1.14. RingCentral, Inc. has a 52-week low of $23.59 and a 52-week high of $49.85.

RingCentral (NYSE:RNG) last posted its quarterly earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.03. The firm had revenue of $644.20 million for 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 firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company 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. On average, equities analysts anticipate that RingCentral, Inc. will post 2.78 earnings per share for the current year.

RingCentral Announces Dividend

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

Institutional Investors Weigh In On RingCentral

Hedge funds and other institutional investors have recently made changes to their positions in the company. WealthCollab LLC lifted its holdings in shares of RingCentral by 59.7% during the 1st quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock valued at $26,000 after buying an additional 259 shares during the last quarter. Versant Capital Management Inc raised its position in RingCentral by 2.3% during the second quarter. Versant Capital Management Inc now owns 11,521 shares of the software maker’s stock valued at $449,000 after acquiring an additional 259 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in RingCentral by 3.1% in the first quarter. Pictet Asset Management Holding SA now owns 11,883 shares of the software maker’s stock valued at $442,000 after acquiring an additional 362 shares during the last quarter. Rothschild Investment LLC grew its position in RingCentral by 15.8% in the fourth quarter. Rothschild Investment LLC now owns 2,681 shares of the software maker’s stock worth $77,000 after acquiring an additional 366 shares in the last quarter. Finally, Sovereign Financial Group Inc. grew its position in RingCentral by 4.2% in the first quarter. Sovereign Financial Group Inc. now owns 10,170 shares of the software maker’s stock worth $378,000 after acquiring an additional 409 shares in the last quarter. 98.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Rosenblatt Securities boosted their price target on RingCentral from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Jefferies Financial Group reaffirmed a “hold” rating and set a $40.00 target price on shares of RingCentral in a report on Saturday, May 9th. Oppenheimer reaffirmed an “outperform” rating and set a $50.00 price objective on shares of RingCentral in a research note on Friday, May 8th. Needham & Company LLC lifted their target price 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, Morgan Stanley raised their price objective on shares of RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $43.00.

About RingCentral

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.