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

RingCentral, Inc. (NYSE:RNG) CAO Tarun Arora sold 4,172 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $70.36, for a total transaction of $293,541.92. Following the completion of the sale, the chief accounting officer directly owned 65,692 shares in the company, valued at $4,622,089.12. This represents a 5.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $67.45, for a total transaction 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 transaction of $122,427.76.

RingCentral Stock Performance

RingCentral stock opened at $68.81 on Friday. The firm’s fifty day moving average price is $57.92 and its 200-day moving average price is $45.88. RingCentral, Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $77.95. The stock has a market cap of $5.75 billion, a P/E ratio of 55.05, a price-to-earnings-growth ratio of 1.19 and a beta of 1.14.

RingCentral (NYSE:RNG) last announced its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.22 EPS for the quarter, beating the consensus estimate of $1.16 by $0.06. The firm had revenue of $657.01 million for the quarter, compared to analyst estimates of $650.53 million. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.The company’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.06 EPS. 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, analysts predict that RingCentral, Inc. will post 2.89 earnings per share for the current year.

RingCentral Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, August 6th. This is a positive change from RingCentral’s previous quarterly dividend of $0.07. RingCentral’s dividend payout ratio (DPR) is presently 40.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RNG. Rosenblatt Securities reiterated a “buy” rating and issued a $50.00 target price on shares of RingCentral in a research report on Friday, July 24th. Needham & Company LLC upped their price target on shares of RingCentral from $55.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Royal Bank Of Canada initiated coverage on RingCentral in a research note on Thursday, September 3rd. They set an “outperform” rating and a $85.00 price objective on the stock. Wells Fargo & Company boosted their target price on RingCentral from $43.00 to $65.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 25th. Finally, Mizuho increased their target price on RingCentral from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Four investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $56.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. WealthCollab LLC boosted its stake in shares of RingCentral by 59.7% during the 1st quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock valued at $26,000 after purchasing an additional 259 shares in the last quarter. Meeder Asset Management Inc. raised its stake in 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 buying an additional 410 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in 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 buying an additional 738 shares during the period. Rockefeller Capital Management L.P. boosted its position in RingCentral by 70.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock valued at $30,000 after acquiring an additional 424 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in RingCentral during the 3rd quarter valued at approximately $30,000. 98.61% of the stock is owned by hedge funds and other institutional investors.

About RingCentral

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.