Insider Selling: RingCentral (NYSE:RNG) COO Sells $2,536,930.35 in Stock

RingCentral, Inc. (NYSE:RNG) COO Kira Makagon sold 36,185 shares of RingCentral stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $70.11, for a total transaction of $2,536,930.35. Following the sale, the chief operating officer owned 245,385 shares of the company’s stock, valued at approximately $17,203,942.35. The trade was a 12.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

RingCentral Price Performance

Shares of NYSE:RNG opened at $71.85 on Friday. The business’s 50 day simple moving average is $61.18 and its 200-day simple moving average is $47.19. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of 57.48, a price-to-earnings-growth ratio of 1.30 and a beta of 1.14. RingCentral, Inc. has a 12 month low of $24.14 and a 12 month high of $77.95.

RingCentral (NYSE:RNG) last released its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.06. The firm had revenue of $657.01 million during the quarter, compared to the consensus estimate of $650.53 million. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.RingCentral’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the business posted $1.06 EPS. 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, equities analysts anticipate that RingCentral, Inc. will post 2.89 earnings per share for the current year.

RingCentral Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RNG. Mizuho increased their price objective on shares of RingCentral from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Weiss Ratings restated a “hold (c)” rating on shares of RingCentral in a research report on Friday, July 17th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $50.00 price target on shares of RingCentral in a report on Friday, July 24th. Oppenheimer increased their price target on shares of RingCentral from $50.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, September 1st. Finally, Royal Bank Of Canada began coverage on shares of RingCentral in a research note on Thursday, September 3rd. They set an “outperform” rating and a $85.00 price objective for the company. Four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $56.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RNG. Integrated Wealth Concepts LLC purchased a new position in RingCentral in the 2nd quarter valued at about $113,000. IFP Advisors Inc grew its holdings in shares of RingCentral by 2,597.9% during the second quarter. IFP Advisors Inc now owns 99,068 shares of the software maker’s stock worth $3,862,000 after buying an additional 95,396 shares in the last quarter. Baird Financial Group Inc. grew its holdings in shares of RingCentral by 7.7% during the second quarter. Baird Financial Group Inc. now owns 254,432 shares of the software maker’s stock worth $9,918,000 after buying an additional 18,220 shares in the last quarter. Nykredit A S acquired a new position in shares of RingCentral in the second quarter valued at approximately $63,000. Finally, Corient Private Wealth LP raised its position in shares of RingCentral by 144.3% in the second quarter. Corient Private Wealth LP now owns 250,095 shares of the software maker’s stock valued at $9,749,000 after buying an additional 147,710 shares during the last quarter. Institutional investors and hedge funds own 98.61% of the company’s stock.

RingCentral Company Profile

RingCentral, Inc is a cloud communications and collaboration company that provides business communications software through a subscription-based platform. Its services are designed to help organizations manage voice, messaging, video meetings, team collaboration and other communications across devices and locations.

The company’s offerings include RingEX, its unified communications platform; RingCentral Video for online meetings and collaboration; RingCentral Events for virtual and hybrid events; and contact center products, including RingCX.