Vaibhav Agarwal Sells 4,044 Shares of RingCentral (NYSE:RNG) Stock

RingCentral, Inc. (NYSE:RNG) CFO Vaibhav Agarwal sold 4,044 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $65.07, for a total transaction of $263,143.08. Following the completion of the sale, the chief financial officer owned 161,048 shares of the company’s stock, valued at approximately $10,479,393.36. The trade was a 2.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Tuesday, August 18th, Vaibhav Agarwal sold 1,688 shares of RingCentral stock. The shares were sold at an average price of $65.50, for a total transaction of $110,564.00.
• On Tuesday, June 2nd, Vaibhav Agarwal sold 7,047 shares of RingCentral stock. The stock was sold at an average price of $46.17, for a total transaction of $325,359.99.

RingCentral Stock Up 0.1%

RingCentral stock traded up $0.06 during midday trading on Monday, hitting $67.07. 1,041,981 shares of the stock were exchanged, compared to its average volume of 2,103,548. RingCentral, Inc. has a 52-week low of $24.14 and a 52-week high of $68.45. The business’s 50-day moving average price is $48.11 and its 200-day moving average price is $41.66. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of 53.66, a price-to-earnings-growth ratio of 1.16 and a beta of 1.10.

RingCentral (NYSE:RNG) last posted its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.22 EPS for the quarter, beating the consensus estimate of $1.16 by $0.06. RingCentral had a net margin of 4.27% and a negative return on equity of 34.49%. The firm had revenue of $657.01 million during the quarter, compared to analyst estimates of $650.53 million. During the same quarter last year, the business posted $1.06 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. On average, sell-side analysts predict that RingCentral, Inc. will post 2.88 earnings per share for the current fiscal year.

RingCentral Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.7%. This is an increase from RingCentral’s previous quarterly dividend of $0.07. The ex-dividend date was Thursday, August 6th. RingCentral’s dividend payout ratio is 40.00%.

Analysts Set New Price Targets

A number of brokerages have issued reports on RNG. Jefferies Financial Group restated a “hold” rating and issued a $40.00 price objective on shares of RingCentral in a research note on Saturday, May 9th. Wells Fargo & Company lifted their target price on RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Mizuho boosted their price target on shares of RingCentral from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Robert W. Baird set a $45.00 price target on shares of RingCentral in a research report on Friday, May 8th. 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 report on Monday, May 11th. Three research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, RingCentral presently has an average rating of “Hold” and a consensus target price of $44.40.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RNG. Empowered Funds LLC lifted its holdings in RingCentral by 9.0% during the first quarter. Empowered Funds LLC now owns 11,417 shares of the software maker’s stock valued at $283,000 after purchasing an additional 940 shares during the last quarter. Woodline Partners LP raised its position in shares of RingCentral by 14.8% in the first quarter. Woodline Partners LP now owns 159,474 shares of the software maker’s stock valued at $3,949,000 after purchasing an additional 20,518 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of RingCentral by 2.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,190 shares of the software maker’s stock valued at $6,467,000 after buying an additional 5,398 shares in the last quarter. Creative Planning purchased a new stake in shares of RingCentral during the 2nd quarter valued at approximately $274,000. Finally, Invesco Ltd. boosted its holdings in RingCentral by 10.8% in the 2nd quarter. Invesco Ltd. now owns 137,935 shares of the software maker’s stock worth $3,910,000 after buying an additional 13,446 shares during the period. Institutional investors own 98.61% of the company’s stock.

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.