Vladimir Shmunis Sells 101,452 Shares of Ringcentral, Inc. (RNG) Stock
Ringcentral, Inc. (NYSE:RNG) CEO Vladimir Shmunis sold 101,452 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $38.20, for a total value of $3,875,466.40. Following the sale, the chief executive officer now directly owns 355,041 shares of the company’s stock, valued at $13,562,566.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Vladimir Shmunis also recently made the following trade(s):
- On Thursday, July 13th, Vladimir Shmunis sold 73,000 shares of Ringcentral stock. The stock was sold at an average price of $36.87, for a total value of $2,691,510.00.
- 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 value of $3,082,240.00.
Shares of Ringcentral, Inc. (NYSE RNG) opened at 37.85 on Friday. The company’s 50-day moving average price is $36.76 and its 200 day moving average price is $32.18. The stock’s market cap is $2.90 billion. Ringcentral, Inc. has a 1-year low of $19.35 and a 1-year high of $43.05.
Ringcentral (NYSE:RNG) last posted its quarterly earnings data on Wednesday, August 2nd. The software maker reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The business had revenue of $119.40 million for the quarter, compared to analyst estimates of $118.19 million. Ringcentral had a negative return on equity of 19.59% and a negative net margin of 6.77%. The firm’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.02 earnings per share. Equities analysts forecast that Ringcentral, Inc. will post $0.17 EPS for the current fiscal year.
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Institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. acquired a new position in Ringcentral during the first quarter worth approximately $143,000. Fortaleza Asset Management Inc. purchased a new position in shares of Ringcentral during the first quarter valued at about $157,000. Invictus RG purchased a new position in shares of Ringcentral during the first quarter valued at about $162,000. ProShare Advisors LLC purchased a new position in shares of Ringcentral during the second quarter valued at about $202,000. Finally, Amalgamated Bank purchased a new position in shares of Ringcentral during the first quarter valued at about $203,000. Institutional investors and hedge funds own 69.73% of the company’s stock.
RNG has been the subject of a number of recent analyst reports. Morgan Stanley downgraded Ringcentral from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $37.00 to $33.00 in a research report on Thursday, July 20th. They noted that the move was a valuation call. SunTrust Banks, Inc. assumed coverage on Ringcentral in a report on Monday, June 26th. They set a “buy” rating and a $47.00 target price for the company. Jefferies Group LLC restated a “buy” rating and set a $38.00 target price on shares of Ringcentral in a report on Sunday, July 2nd. BidaskClub cut Ringcentral from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, CIBC raised their target price on Ringcentral from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $39.17.
Ringcentral Company Profile
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.
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