Ringcentral, Inc. (RNG) CEO Sells $3,084,250.00 in Stock
Ringcentral, Inc. (NYSE:RNG) CEO Vladimir Shmunis sold 73,000 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $42.25, for a total value of $3,084,250.00. Following the sale, the chief executive officer now owns 355,041 shares in the company, valued at $15,000,482.25. 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 Tuesday, September 12th, Vladimir Shmunis sold 6,000 shares of Ringcentral stock. The shares were sold at an average price of $42.37, for a total value of $254,220.00.
- On Monday, September 11th, Vladimir Shmunis sold 6,000 shares of Ringcentral stock. The shares were sold at an average price of $42.30, for a total value of $253,800.00.
- On Wednesday, August 23rd, Vladimir Shmunis sold 101,452 shares of Ringcentral stock. The shares were sold at an average price of $38.20, for a total value of $3,875,466.40.
- On Thursday, July 13th, Vladimir Shmunis sold 73,000 shares of Ringcentral stock. The shares were sold at an average price of $36.87, for a total value of $2,691,510.00.
Ringcentral, Inc. (NYSE RNG) opened at 41.55 on Friday. The stock’s 50 day moving average price is $39.00 and its 200 day moving average price is $33.88. Ringcentral, Inc. has a 12-month low of $19.35 and a 12-month high of $43.05. The company’s market capitalization is $3.18 billion.
Ringcentral (NYSE:RNG) last announced its quarterly earnings data on Wednesday, August 2nd. The software maker reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. Ringcentral had a negative net margin of 6.77% and a negative return on equity of 19.59%. The company had revenue of $119.40 million during the quarter, compared to analysts’ expectations of $118.19 million. During the same quarter in the prior year, the company earned $0.02 EPS. Ringcentral’s revenue was up 30.1% compared to the same quarter last year. On average, equities analysts anticipate that Ringcentral, Inc. will post $0.17 EPS for the current fiscal year.
TRADEMARK VIOLATION NOTICE: “Ringcentral, Inc. (RNG) CEO Sells $3,084,250.00 in Stock” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this article on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark legislation. The correct version of this article can be read at https://www.thecerbatgem.com/2017/09/16/ringcentral-inc-rng-ceo-sells-3084250-00-in-stock.html.
Several institutional investors have recently bought and sold shares of RNG. Nationwide Fund Advisors grew its stake in shares of Ringcentral by 101.9% in the 1st quarter. Nationwide Fund Advisors now owns 84,797 shares of the software maker’s stock valued at $2,400,000 after buying an additional 42,788 shares during the period. Strs Ohio purchased a new stake in shares of Ringcentral in the 1st quarter valued at approximately $580,000. Russell Investments Group Ltd. grew its stake in shares of Ringcentral by 71.3% in the 1st quarter. Russell Investments Group Ltd. now owns 90,087 shares of the software maker’s stock valued at $2,549,000 after buying an additional 37,487 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Ringcentral by 2.4% in the 1st quarter. Bank of New York Mellon Corp now owns 242,343 shares of the software maker’s stock valued at $6,858,000 after buying an additional 5,627 shares during the period. Finally, Suntrust Banks Inc. purchased a new stake in shares of Ringcentral in the 1st quarter valued at approximately $267,000. 75.22% of the stock is owned by institutional investors and hedge funds.
RNG has been the topic of several recent analyst reports. BidaskClub downgraded Ringcentral from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Summit Redstone reissued a “buy” rating and set a $40.00 price target (up from $36.00) on shares of Ringcentral in a report on Thursday, August 3rd. Northland Securities set a $43.00 price target on Ringcentral and gave the company a “buy” rating in a report on Thursday, August 3rd. Robert W. Baird cut Ringcentral from an “outperform” rating to a “neutral” rating and increased their price target for the company from $38.80 to $41.00 in a report on Thursday, August 10th. Finally, Dougherty & Co increased their price target on Ringcentral from $36.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. Ringcentral currently has a consensus 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.
Receive News & Stock Ratings for Ringcentral Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ringcentral Inc. and related stocks with our FREE daily email newsletter.