Insider Selling: RingCentral Inc (NYSE:RNG) CEO Sells 63,687 Shares of Stock

RingCentral Inc (NYSE:RNG) CEO Vladimir Shmunis sold 63,687 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $138.47, for a total value of $8,818,738.89. Following the transaction, the chief executive officer now directly owns 292,020 shares in the company, valued at approximately $40,436,009.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Vladimir Shmunis also recently made the following trade(s):

  • On Thursday, August 22nd, Vladimir Shmunis sold 113,687 shares of RingCentral stock. The shares were sold at an average price of $139.45, for a total value of $15,853,652.15.
  • On Tuesday, July 9th, Vladimir Shmunis sold 16,898 shares of RingCentral stock. The shares were sold at an average price of $120.69, for a total value of $2,039,419.62.
  • On Thursday, July 11th, Vladimir Shmunis sold 50,700 shares of RingCentral stock. The shares were sold at an average price of $122.18, for a total value of $6,194,526.00.
  • On Tuesday, June 11th, Vladimir Shmunis sold 14,798 shares of RingCentral stock. The shares were sold at an average price of $119.07, for a total value of $1,761,997.86.
  • On Thursday, June 13th, Vladimir Shmunis sold 50,700 shares of RingCentral stock. The shares were sold at an average price of $118.13, for a total value of $5,989,191.00.

Shares of RNG stock traded up $2.37 during mid-day trading on Thursday, reaching $142.31. The stock had a trading volume of 526,000 shares, compared to its average volume of 796,696. The firm’s 50 day simple moving average is $130.43 and its 200 day simple moving average is $116.03. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 1.13. RingCentral Inc has a one year low of $64.41 and a one year high of $146.38. The firm has a market cap of $11.50 billion, a PE ratio of -3,557.75 and a beta of 0.79.

RingCentral (NYSE:RNG) last announced its quarterly earnings data on Monday, July 29th. The software maker reported ($0.03) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.13. RingCentral had a negative return on equity of 1.13% and a negative net margin of 3.95%. The company had revenue of $215.20 million during the quarter, compared to the consensus estimate of $204.70 million. During the same quarter last year, the company earned $0.19 EPS. The company’s quarterly revenue was up 33.8% on a year-over-year basis. Sell-side analysts forecast that RingCentral Inc will post -0.13 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in RNG. Dimensional Fund Advisors LP lifted its position in shares of RingCentral by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 107,523 shares of the software maker’s stock worth $8,862,000 after acquiring an additional 2,298 shares during the period. Geode Capital Management LLC lifted its position in shares of RingCentral by 10.2% in the 4th quarter. Geode Capital Management LLC now owns 641,969 shares of the software maker’s stock worth $52,923,000 after acquiring an additional 59,629 shares during the period. Raymond James Trust N.A. bought a new stake in shares of RingCentral in the 1st quarter worth approximately $206,000. Meeder Asset Management Inc. lifted its position in shares of RingCentral by 98.9% in the 1st quarter. Meeder Asset Management Inc. now owns 1,096 shares of the software maker’s stock worth $118,000 after acquiring an additional 545 shares during the period. Finally, Oakbrook Investments LLC bought a new stake in shares of RingCentral in the 1st quarter worth approximately $202,000. Institutional investors own 80.69% of the company’s stock.

Several analysts recently weighed in on the company. Bank of America increased their target price on RingCentral from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Jefferies Financial Group increased their target price on RingCentral from $140.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Needham & Company LLC restated a “buy” rating and set a $150.00 target price (up previously from $140.00) on shares of RingCentral in a research note on Tuesday, July 30th. Raymond James increased their target price on RingCentral from $140.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Tuesday, July 30th. Finally, SunTrust Banks increased their target price on RingCentral to $163.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. RingCentral has an average rating of “Buy” and an average price target of $135.94.

About RingCentral

RingCentral, Inc provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect primarily in North America. The company's products include RingCentral Office, provides communication and collaboration across various modes, including high-definition voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax through smartphones, tablets, PCs, and desk phones; RingCentral Professional, a cloud based virtual telephone service for professionals, as well as provides inbound call answering and management services, and includes inbound local, long-distance, and toll-free minutes; and RingCentral Fax that provides online fax capabilities that allow businesses to send and receive fax documents without a fax machine.

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Insider Buying and Selling by Quarter for RingCentral (NYSE:RNG)

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