RingCentral (NYSE:RNG) CAO Tarun Arora Sells 1,876 Shares

RingCentral, Inc. (NYSE:RNG) CAO Tarun Arora sold 1,876 shares of RingCentral stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $65.26, for a total value of $122,427.76. Following the completion of the transaction, the chief accounting officer directly owned 80,384 shares in the company, valued at approximately $5,245,859.84. This represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 Friday, May 29th, Tarun Arora sold 3,615 shares of RingCentral stock. The shares were sold at an average price of $43.00, for a total value of $155,445.00.
• 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 transaction of $39,204.54.

RingCentral Stock Performance

RingCentral stock opened at $67.07 on Tuesday. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of 53.66, a PEG ratio of 1.16 and a beta of 1.10. RingCentral, Inc. has a 52-week low of $24.14 and a 52-week high of $68.45. The firm has a 50 day moving average price of $48.69 and a two-hundred day moving average price of $41.96.

RingCentral (NYSE:RNG) last posted its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. RingCentral had a net margin of 4.27% and a negative return on equity of 34.49%. The company had revenue of $657.01 million for the quarter, compared to analyst estimates of $650.53 million. During the same period in the prior year, the firm posted $1.06 EPS. The company’s quarterly revenue 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. As a group, equities research analysts predict that RingCentral, Inc. will post 2.88 EPS for the current fiscal year.

RingCentral Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were given 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 of this dividend was Thursday, August 6th. RingCentral’s payout ratio is currently 40.00%.

Hedge Funds Weigh In On RingCentral

Institutional investors and hedge funds have recently made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in RingCentral in the first quarter valued at approximately $697,000. Robertson Stephens Wealth Management LLC increased its holdings in shares of RingCentral by 124.7% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 90,311 shares of the software maker’s stock valued at $2,608,000 after acquiring an additional 50,122 shares in the last quarter. LSV Asset Management raised its position in shares of RingCentral by 142.4% during the fourth quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock worth $82,935,000 after purchasing an additional 1,686,900 shares during the period. Jupiter Asset Management Ltd. raised its position in shares of RingCentral by 11.4% during the fourth quarter. Jupiter Asset Management Ltd. now owns 1,456,270 shares of the software maker’s stock worth $42,057,000 after purchasing an additional 149,532 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of RingCentral by 60.0% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 280,323 shares of the software maker’s stock worth $8,096,000 after purchasing an additional 105,145 shares in the last quarter. Institutional investors own 98.61% of the company’s stock.

Analyst Upgrades and Downgrades

RNG has been the topic of a number of recent analyst reports. Mizuho boosted their price objective on RingCentral from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Wells Fargo & Company raised 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. Oppenheimer reissued an “outperform” rating and issued a $50.00 price target on shares of RingCentral in a research note on Friday, May 8th. Morgan Stanley increased their price target on RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $50.00 price objective on shares of RingCentral in a research report on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $44.40.

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.