RingCentral Inc. (NYSE:RNG) EVP Kira Makagon sold 3,102 shares of the company’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $22.20, for a total value of $68,864.40. Following the completion of the transaction, the executive vice president now directly owns 110,438 shares in the company, valued at $2,451,723.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Kira Makagon also recently made the following trade(s):

  • On Wednesday, September 7th, Kira Makagon sold 20,000 shares of RingCentral stock. The stock was sold at an average price of $22.02, for a total value of $440,400.00.

Shares of RingCentral Inc. (NYSE:RNG) traded up 3.39% on Wednesday, reaching $22.85. 331,632 shares of the company were exchanged. The company’s market capitalization is $1.68 billion. RingCentral Inc. has a 52-week low of $13.88 and a 52-week high of $25.67. The stock has a 50 day moving average of $21.82 and a 200-day moving average of $21.63.

RingCentral (NYSE:RNG) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. RingCentral had a negative net margin of 8.17% and a negative return on equity of 20.73%. The firm earned $96.80 million during the quarter, compared to analysts’ expectations of $41.93 million. During the same period in the previous year, the company earned ($0.09) earnings per share. RingCentral’s quarterly revenue was up 26.0% compared to the same quarter last year. On average, analysts predict that RingCentral Inc. will post $0.08 EPS for the current fiscal year.

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

Several equities research analysts have weighed in on the company. Jefferies Group increased their price target on RingCentral from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Robert W. Baird assumed coverage on RingCentral in a research report on Thursday, August 25th. They set a “neutral” rating and a $24.00 price target on the stock. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $26.00 price target on shares of RingCentral in a research report on Wednesday, October 26th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $29.00 price target (up from $27.00) on shares of RingCentral in a research report on Friday, August 5th. Finally, Zacks Investment Research downgraded RingCentral from a “hold” rating to a “sell” rating in a research report on Tuesday, November 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $25.89.

A number of large investors have recently made changes to their positions in RNG. Victory Capital Management Inc. acquired a new position in RingCentral during the third quarter worth approximately $78,830,000. Gilder Gagnon Howe & Co. LLC raised its position in RingCentral by 51.2% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 3,752,961 shares of the company’s stock worth $74,008,000 after buying an additional 1,271,054 shares in the last quarter. Capital World Investors raised its position in RingCentral by 84.6% in the third quarter. Capital World Investors now owns 2,648,604 shares of the company’s stock worth $62,666,000 after buying an additional 1,213,604 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in RingCentral by 22.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,827,286 shares of the company’s stock worth $43,234,000 after buying an additional 332,354 shares in the last quarter. Finally, Bank of Montreal Can acquired a new position in RingCentral during the second quarter worth approximately $6,421,000. 69.61% of the stock is owned by hedge funds and other institutional investors.

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RingCentral Company Profile

RingCentral, Inc is a provider of software-as-a-service (SaaS) solutions for business communications. The Company’s cloud-based business communications solutions provide a single user identity across multiple locations and devices, including smartphones, tablets, personal computers (PCs) and desk phones, and allow for communication across multiple channels, including voice, text, team messaging collaboration, high definition (HD) video for Web conferencing and fax.

5 Day Chart for NYSE:RNG

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