Tarun Arora Sells 4,172 Shares of RingCentral (NYSE:RNG) Stock

RingCentral, Inc. (NYSE:RNG) CAO Tarun Arora sold 4,172 shares of RingCentral stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $70.36, for a total transaction of $293,541.92. Following the sale, the chief accounting officer directly owned 65,692 shares of the company’s stock, valued at $4,622,089.12. This represents a 5.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, September 3rd, Tarun Arora sold 954 shares of RingCentral stock. The shares were sold at an average price of $77.00, for a total transaction of $73,458.00.
• On Tuesday, August 25th, Tarun Arora sold 675 shares of RingCentral stock. The shares were sold at an average price of $67.45, for a total value of $45,528.75.
• On Friday, August 21st, Tarun Arora sold 1,876 shares of RingCentral stock. The stock was sold at an average price of $65.26, for a total value of $122,427.76.

RingCentral Stock Down 0.3%

Shares of RingCentral stock traded down $0.23 during trading on Friday, reaching $68.81. 1,043,023 shares of the company were exchanged, compared to its average volume of 1,317,929. RingCentral, Inc. has a twelve month low of $24.14 and a twelve month high of $77.95. The business has a 50-day moving average price of $57.92 and a 200-day moving average price of $45.88. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of 55.05, a P/E/G ratio of 1.19 and a beta of 1.14.

RingCentral (NYSE:RNG) last released its earnings results 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. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.The firm had revenue of $657.01 million for the quarter, compared to analyst estimates of $650.53 million. During the same quarter in the prior year, the firm posted $1.06 earnings per share. 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. On average, equities research analysts forecast that RingCentral, Inc. will post 2.89 EPS for the current fiscal year.

RingCentral Increases Dividend

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

Institutional Trading of RingCentral

A number of large investors have recently bought and sold shares of RNG. WealthCollab LLC raised its holdings in shares of RingCentral by 59.7% during the first quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock worth $26,000 after acquiring an additional 259 shares during the period. Versant Capital Management Inc lifted its position in RingCentral by 2.3% in the 2nd quarter. Versant Capital Management Inc now owns 11,521 shares of the software maker’s stock valued at $449,000 after acquiring an additional 259 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in RingCentral by 3.1% in the 1st quarter. Pictet Asset Management Holding SA now owns 11,883 shares of the software maker’s stock worth $442,000 after purchasing an additional 362 shares during the period. Rothschild Investment LLC increased its holdings in RingCentral by 15.8% during the 4th quarter. Rothschild Investment LLC now owns 2,681 shares of the software maker’s stock worth $77,000 after purchasing an additional 366 shares in the last quarter. Finally, Sovereign Financial Group Inc. increased its holdings in RingCentral by 4.2% during the 1st quarter. Sovereign Financial Group Inc. now owns 10,170 shares of the software maker’s stock worth $378,000 after purchasing an additional 409 shares in the last quarter. 98.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Mizuho boosted their price objective on shares of RingCentral from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Royal Bank Of Canada assumed coverage on shares of RingCentral in a research report on Thursday, September 3rd. They set an “outperform” rating and a $85.00 price target on the stock. Needham & Company LLC boosted their price target on shares of RingCentral from $55.00 to $85.00 and gave the company a “buy” rating in a report on Friday, August 28th. Wells Fargo & Company upped their price objective on shares of RingCentral from $43.00 to $65.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 25th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of RingCentral in a research note on Friday, July 17th. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $56.00.

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.