Amy Guggenheim Shenkan Sells 1,265 Shares of RingCentral (NYSE:RNG) Stock

RingCentral, Inc. (NYSE:RNG) Director Amy Guggenheim Shenkan sold 1,265 shares of RingCentral stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $40.59, for a total value of $51,346.35. Following the completion of the sale, the director owned 29,372 shares of the company’s stock, valued at $1,192,209.48. This trade represents a 4.13% decrease in their position. The transaction was disclosed in a document filed 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 Price Performance

NYSE RNG opened at $40.07 on Friday. RingCentral, Inc. has a 12 month low of $23.59 and a 12 month high of $49.85. The company has a 50-day moving average of $40.72 and a 200-day moving average of $35.55. The company has a market cap 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 released its earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.03. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The business had revenue of $644.20 million for the quarter, compared to analysts’ expectations of $642.73 million. During the same period last year, the company earned $1.00 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. 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, equities research analysts anticipate that RingCentral, Inc. will post 2.78 EPS for the current year.

RingCentral Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.30 dividend on an annualized basis and a yield of 0.7%. RingCentral’s dividend payout ratio (DPR) is currently 31.91%.

Institutional Investors Weigh In On RingCentral

Several large investors have recently made changes to their positions in RNG. WealthCollab LLC raised its stake in shares of RingCentral by 59.7% in the 1st quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock valued at $26,000 after acquiring an additional 259 shares during the period. Meeder Asset Management Inc. boosted its position 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 during the period. EverSource Wealth Advisors LLC boosted its position 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 during the period. Rockefeller Capital Management L.P. increased its holdings in RingCentral by 70.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock valued at $30,000 after purchasing an additional 424 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in RingCentral in the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 98.61% of the company’s stock.

Analyst Upgrades and Downgrades

RNG has been the subject of several research reports. Needham & Company LLC boosted their price objective on shares of RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Wells Fargo & Company increased their target price on RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Oppenheimer reiterated an “outperform” rating and issued a $50.00 target price on shares of RingCentral in a report on Friday, May 8th. Jefferies Financial Group reissued a “hold” rating and set a $40.00 price target on shares of RingCentral in a research report on Saturday, May 9th. Finally, Morgan Stanley raised their price objective on RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Three analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company currently 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.