Ringcentral, Inc. (NYSE:RNG) COO David Sipes sold 15,270 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $49.06, for a total transaction of $749,146.20. Following the transaction, the chief operating officer now owns 280,781 shares of the company’s stock, valued at approximately $13,775,115.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

David Sipes also recently made the following trade(s):

  • On Monday, October 16th, David Sipes sold 1,500 shares of Ringcentral stock. The shares were sold at an average price of $44.00, for a total transaction of $66,000.00.
  • On Wednesday, October 11th, David Sipes sold 7,800 shares of Ringcentral stock. The shares were sold at an average price of $43.32, for a total transaction of $337,896.00.
  • On Monday, October 2nd, David Sipes sold 3,000 shares of Ringcentral stock. The shares were sold at an average price of $44.01, for a total transaction of $132,030.00.
  • On Wednesday, September 13th, David Sipes sold 7,800 shares of Ringcentral stock. The shares were sold at an average price of $42.11, for a total transaction of $328,458.00.

Ringcentral, Inc. (NYSE RNG) traded down $0.35 during trading on Thursday, hitting $47.15. 531,697 shares of the stock traded hands, compared to its average volume of 664,612. Ringcentral, Inc. has a 12 month low of $19.95 and a 12 month high of $49.95.

Ringcentral (NYSE:RNG) last announced its earnings results on Wednesday, November 8th. The software maker reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Ringcentral had a negative net margin of 5.80% and a negative return on equity of 17.97%. The business had revenue of $129.76 million during the quarter, compared to analysts’ expectations of $126.06 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The firm’s revenue was up 34.0% on a year-over-year basis. sell-side analysts expect that Ringcentral, Inc. will post -0.33 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in RNG. Capital World Investors boosted its holdings in Ringcentral by 23.9% during the second quarter. Capital World Investors now owns 6,599,000 shares of the software maker’s stock worth $241,193,000 after purchasing an additional 1,275,000 shares during the last quarter. Whale Rock Capital Management LLC acquired a new position in Ringcentral during the second quarter worth $39,450,000. FMR LLC boosted its holdings in Ringcentral by 40.1% during the second quarter. FMR LLC now owns 2,905,422 shares of the software maker’s stock worth $106,193,000 after purchasing an additional 832,314 shares during the last quarter. Southpoint Capital Advisors LP acquired a new position in Ringcentral during the second quarter worth $18,275,000. Finally, BlackRock Inc. boosted its holdings in Ringcentral by 11.6% during the second quarter. BlackRock Inc. now owns 4,272,844 shares of the software maker’s stock worth $156,173,000 after purchasing an additional 445,306 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Several research analysts have recently weighed in on the stock. Summit Redstone reiterated a “buy” rating and issued a $40.00 price target (up previously from $36.00) on shares of Ringcentral in a report on Thursday, August 3rd. Dougherty & Co upped their price target on shares of Ringcentral from $36.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Craig Hallum reiterated a “buy” rating and issued a $40.00 price target (up previously from $35.00) on shares of Ringcentral in a report on Thursday, August 3rd. Northland Securities set a $43.00 price target on shares of Ringcentral and gave the company a “buy” rating in a report on Thursday, August 3rd. Finally, Jefferies Group reiterated a “buy” rating and issued a $38.00 price target on shares of Ringcentral in a report on Thursday, August 3rd. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Ringcentral currently has an average rating of “Buy” and an average target price of $44.15.

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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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