RingCentral Inc (NYSE:RNG) CFO Mitesh Dhruv sold 3,000 shares of RingCentral stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $47.85, for a total transaction of $143,550.00. Following the transaction, the chief financial officer now directly owns 132,087 shares in the company, valued at $6,320,362.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Mitesh Dhruv also recently made the following trade(s):

  • On Wednesday, November 22nd, Mitesh Dhruv sold 3,000 shares of RingCentral stock. The shares were sold at an average price of $48.22, for a total transaction of $144,660.00.
  • On Wednesday, October 4th, Mitesh Dhruv sold 3,000 shares of RingCentral stock. The shares were sold at an average price of $43.72, for a total transaction of $131,160.00.

RingCentral Inc (NYSE:RNG) traded down $1.65 during midday trading on Wednesday, hitting $47.70. 398,600 shares of the stock were exchanged, compared to its average volume of 658,618. RingCentral Inc has a twelve month low of $20.55 and a twelve month high of $49.95.

RingCentral (NYSE:RNG) last posted its earnings results on Wednesday, November 8th. The software maker reported $0.06 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $126.06 million. During the same period in the previous year, the company posted $0.03 earnings per share. The business’s revenue for the quarter was up 34.0% compared to the same quarter last year. research analysts anticipate that RingCentral Inc will post -0.33 EPS for the current year.

A number of research analysts have weighed in on RNG shares. Oppenheimer lifted their price target on shares of RingCentral from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, November 9th. Zacks Investment Research cut shares of RingCentral from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. Craig Hallum reissued a “buy” rating and set a $50.00 target price (up from $40.00) on shares of RingCentral in a research report on Thursday, November 9th. Northland Securities reissued an “outperform” rating and set a $46.00 target price (up from $43.00) on shares of RingCentral in a research report on Tuesday, October 3rd. Finally, Bank of America boosted their target price on shares of RingCentral from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. RingCentral presently has an average rating of “Buy” and a consensus target price of $45.14.

Several large investors have recently modified their holdings of RNG. Aperio Group LLC increased its stake in shares of RingCentral by 1.5% in the second quarter. Aperio Group LLC now owns 11,457 shares of the software maker’s stock worth $419,000 after buying an additional 169 shares during the last quarter. Sei Investments Co. increased its stake in shares of RingCentral by 66.1% in the second quarter. Sei Investments Co. now owns 31,255 shares of the software maker’s stock worth $1,142,000 after buying an additional 12,442 shares during the last quarter. TD Asset Management Inc. increased its stake in shares of RingCentral by 11.2% in the second quarter. TD Asset Management Inc. now owns 19,827 shares of the software maker’s stock worth $725,000 after buying an additional 2,000 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of RingCentral by 3.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 265,033 shares of the software maker’s stock worth $9,687,000 after buying an additional 8,712 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of RingCentral by 984.1% in the second quarter. First Trust Advisors LP now owns 81,467 shares of the software maker’s stock worth $2,978,000 after buying an additional 73,952 shares during the last quarter. Institutional investors and hedge funds own 76.29% of the company’s stock.

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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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