RingCentral (NYSE:RNG) CAO Sells $155,445.00 in Stock

RingCentral, Inc. (NYSE:RNG) CAO Tarun Arora sold 3,615 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $43.00, for a total value of $155,445.00. Following the completion of the transaction, the chief accounting officer owned 68,100 shares of the company’s stock, valued at $2,928,300. This trade represents a 5.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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.

Tarun Arora also recently made the following trade(s):

• On Tuesday, May 26th, Tarun Arora sold 919 shares of RingCentral stock. The shares were sold at an average price of $42.66, for a total value of $39,204.54.
• On Tuesday, April 21st, Tarun Arora sold 953 shares of RingCentral stock. The shares were sold at an average price of $43.00, for a total value of $40,979.00.
• On Tuesday, March 10th, Tarun Arora sold 8,840 shares of RingCentral stock. The shares were sold at an average price of $40.69, for a total value of $359,699.60.

RingCentral Price Performance

Shares of NYSE:RNG opened at $43.98 on Friday. The company has a market capitalization of $3.69 billion, a PE ratio of 46.79, a price-to-earnings-growth ratio of 1.29 and a beta of 1.14. The business has a fifty day moving average price of $40.72 and a two-hundred day moving average price of $34.22. RingCentral, Inc. has a 1 year low of $23.59 and a 1 year high of $49.85.

RingCentral (NYSE:RNG) last announced its quarterly earnings data 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 the consensus estimate of $642.73 million. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 EPS. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. Sell-side analysts anticipate that RingCentral, Inc. will post 2.79 earnings per share for the current year.

RingCentral Announces Dividend

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

Wall Street Analyst Weigh In

RNG has been the topic of a number of recent research reports. Rosenblatt Securities upped their price target on RingCentral from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Oppenheimer reaffirmed an “outperform” rating and set a $50.00 price target on shares of RingCentral in a research report on Friday, May 8th. Needham & Company LLC upped their price target on RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Wells Fargo & Company upped their price target on RingCentral from $32.00 to $43.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Finally, Morgan Stanley upped their price target on RingCentral from $33.00 to $40.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Three research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.00.

Institutional Trading of RingCentral

A number of institutional investors have recently added to or reduced their stakes in RNG. WealthCollab LLC lifted its holdings in RingCentral by 59.7% during the 1st quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock worth $26,000 after purchasing an additional 259 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in RingCentral by 127.3% during the 1st quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock worth $27,000 after purchasing an additional 410 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in RingCentral by 269.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock worth $29,000 after purchasing an additional 738 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in RingCentral by 70.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock worth $30,000 after purchasing an additional 424 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in RingCentral during the 3rd quarter worth about $30,000. Hedge funds and other institutional investors 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.