Vaibhav Agarwal Sells 2,220 Shares of RingCentral (NYSE:RNG) Stock

RingCentral, Inc. (NYSE:RNG) CFO Vaibhav Agarwal sold 2,220 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $40.62, for a total value of $90,176.40. Following the sale, the chief financial officer owned 140,416 shares of the company’s stock, valued at $5,703,697.92. This trade represents a 1.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 Monday, March 2nd, Vaibhav Agarwal sold 18,680 shares of RingCentral stock. The shares were sold at an average price of $36.33, for a total value of $678,644.40.
• On Monday, February 23rd, Vaibhav Agarwal sold 10,744 shares of RingCentral stock. The shares were sold at an average price of $35.50, for a total value of $381,412.00.

RingCentral Stock Up 1.9%

Shares of NYSE:RNG opened at $43.39 on Thursday. The company’s fifty day moving average is $39.44 and its two-hundred day moving average is $32.97. RingCentral, Inc. has a 12-month low of $23.59 and a 12-month high of $48.57. The company has a market cap of $3.65 billion, a P/E ratio of 46.16, a price-to-earnings-growth ratio of 1.30 and a beta of 1.13.

RingCentral (NYSE:RNG) last announced its earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share (EPS) for the quarter, beating 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 company had revenue of $644.20 million for the quarter, compared to the consensus estimate of $642.73 million. During the same period in the previous year, the business earned $1.00 EPS. The company’s 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. Equities research analysts anticipate that RingCentral, Inc. will post 2.69 earnings per share for the current year.

RingCentral Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, June 2nd. RingCentral’s payout ratio is 31.91%.

Hedge Funds Weigh In On RingCentral

Hedge funds have recently modified their holdings of the stock. WealthCollab LLC increased its stake in shares of RingCentral by 59.7% in 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 last quarter. Meeder Asset Management Inc. increased its stake in shares of RingCentral by 127.3% in the first quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock worth $27,000 after acquiring an additional 410 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of RingCentral by 269.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock worth $29,000 after acquiring an additional 738 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of RingCentral by 70.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock worth $30,000 after acquiring an additional 424 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of RingCentral in the third quarter worth $30,000. 98.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RNG shares. 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. Oppenheimer reissued an “outperform” rating and set a $50.00 target price on shares of RingCentral in a research note on Friday, May 8th. Weiss Ratings raised shares of RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. Robert W. Baird set a $45.00 target price on shares of RingCentral in a research note on Friday, May 8th. Finally, Needham & Company LLC boosted their target price 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. Three equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, RingCentral has an average rating of “Hold” and an average target price 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.