Ringcentral, Inc. (NYSE:RNG) CEO Vladimir Shmunis sold 73,000 shares of the firm’s stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $36.87, for a total transaction of $2,691,510.00. Following the completion of the sale, the chief executive officer now owns 355,041 shares in the company, valued at $13,090,361.67. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

  • On Tuesday, June 13th, Vladimir Shmunis sold 86,000 shares of Ringcentral stock. The stock was sold at an average price of $35.84, for a total transaction of $3,082,240.00.
  • On Tuesday, May 23rd, Vladimir Shmunis sold 5,000 shares of Ringcentral stock. The stock was sold at an average price of $34.06, for a total transaction of $170,300.00.
  • On Monday, May 22nd, Vladimir Shmunis sold 37,238 shares of Ringcentral stock. The stock was sold at an average price of $34.21, for a total transaction of $1,273,911.98.
  • On Wednesday, May 24th, Vladimir Shmunis sold 88,454 shares of Ringcentral stock. The stock was sold at an average price of $34.17, for a total transaction of $3,022,473.18.

Shares of Ringcentral, Inc. (NYSE:RNG) opened at 35.10 on Tuesday. The stock’s market cap is $2.66 billion. The stock has a 50 day moving average of $36.19 and a 200 day moving average of $30.47. Ringcentral, Inc. has a one year low of $19.35 and a one year high of $39.00.

Ringcentral (NYSE:RNG) last released its quarterly earnings data on Wednesday, August 2nd. The software maker reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.01. Ringcentral had a negative net margin of 6.77% and a negative return on equity of 20.54%. The business had revenue of $119.40 million for the quarter, compared to analysts’ expectations of $118.19 million. During the same quarter last year, the company earned $0.02 EPS. The company’s revenue for the quarter was up 30.1% compared to the same quarter last year. Equities analysts expect that Ringcentral, Inc. will post $0.17 EPS for the current fiscal year.

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Several equities research analysts recently commented on RNG shares. Stephens reiterated an “overweight” rating and set a $44.00 price target on shares of Ringcentral in a research note on Sunday, June 25th. BidaskClub lowered shares of Ringcentral from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Jefferies Group LLC restated a “buy” rating and issued a $38.00 price objective on shares of Ringcentral in a research note on Sunday, July 2nd. Craig Hallum restated a “buy” rating and issued a $40.00 price objective (up from $35.00) on shares of Ringcentral in a research note on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $33.00 price objective (up from $32.00) on shares of Ringcentral in a research note on Monday, May 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Ringcentral has an average rating of “Buy” and an average target price of $38.17.

Hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. bought a new position in Ringcentral during the first quarter valued at approximately $143,000. Fortaleza Asset Management Inc. bought a new position in Ringcentral during the first quarter valued at approximately $157,000. Invictus RG bought a new position in Ringcentral during the first quarter valued at approximately $162,000. Amalgamated Bank bought a new position in Ringcentral during the first quarter valued at approximately $203,000. Finally, Westpac Banking Corp bought a new position in Ringcentral during the first quarter valued at approximately $214,000. 71.20% of the stock is currently owned by institutional investors and hedge funds.

About Ringcentral

RingCentral, Inc is a provider of software-as-a-service (SaaS) solutions for businesses to support modern 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 high definition (HD) voice, video, short messaging service (SMS), messaging and collaboration, conferencing, online meetings, and fax.

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

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