RingCentral (NYSE:RNG) CFO Vaibhav Agarwal Sells 1,688 Shares of Stock

RingCentral, Inc. (NYSE:RNG) CFO Vaibhav Agarwal sold 1,688 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $65.50, for a total value of $110,564.00. Following the completion of the sale, the chief financial officer owned 169,282 shares in the company, valued at $11,087,971. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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.

Vaibhav Agarwal also recently made the following trade(s):

• On Tuesday, June 2nd, Vaibhav Agarwal sold 7,047 shares of RingCentral stock. The shares were sold at an average price of $46.17, for a total transaction of $325,359.99.
• On Thursday, May 21st, Vaibhav Agarwal sold 4,044 shares of RingCentral stock. The stock was sold at an average price of $42.06, for a total transaction of $170,090.64.

RingCentral Stock Up 1.8%

RNG stock opened at $65.22 on Wednesday. The stock has a market cap of $5.45 billion, a PE ratio of 52.18, a price-to-earnings-growth ratio of 1.12 and a beta of 1.10. The firm’s 50-day simple moving average is $46.44 and its 200 day simple moving average is $40.81. RingCentral, Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $68.45.

RingCentral (NYSE:RNG) last posted its earnings results on Thursday, July 23rd. The software maker reported $1.22 earnings per share (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 firm had revenue of $657.01 million during the quarter, compared to analyst estimates of $650.53 million. During the same period in the previous year, the business posted $1.06 EPS. RingCentral’s 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. Equities analysts forecast that RingCentral, Inc. will post 2.88 EPS for the current fiscal year.

RingCentral Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be issued a $0.125 dividend. This is a positive change from RingCentral’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $0.50 dividend on an annualized basis and a yield of 0.8%. RingCentral’s dividend payout ratio is currently 40.00%.

Institutional Trading of RingCentral

Several institutional investors have recently modified their holdings of RNG. LSV Asset Management raised its position in RingCentral by 142.4% in the fourth quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock worth $82,935,000 after acquiring an additional 1,686,900 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of RingCentral by 35.4% in the 4th quarter. AQR Capital Management LLC now owns 2,003,950 shares of the software maker’s stock worth $57,874,000 after purchasing an additional 523,966 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of RingCentral by 150.4% in the 1st quarter. Quantinno Capital Management LP now owns 1,976,995 shares of the software maker’s stock worth $73,524,000 after purchasing an additional 1,187,437 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of RingCentral in the 3rd quarter worth approximately $53,365,000. Finally, Marshall Wace LLP lifted its stake in RingCentral by 4.4% during the third quarter. Marshall Wace LLP now owns 1,794,978 shares of the software maker’s stock valued at $50,870,000 after purchasing an additional 75,709 shares during the last quarter. Institutional investors and hedge funds own 98.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on RNG shares. Morgan Stanley increased their price target on RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RingCentral in a report on Friday, July 17th. Piper Sandler increased their target price on shares of RingCentral from $40.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Jefferies Financial Group reissued a “hold” rating and set a $40.00 target price on shares of RingCentral in a research note on Saturday, May 9th. Finally, Mizuho boosted their price target on shares of RingCentral from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Three analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.40.

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.