RingCentral (NYSE:RNG) COO Sells $780,189.40 in Stock

RingCentral, Inc. (NYSE:RNG) COO Kira Makagon sold 22,196 shares of RingCentral stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $35.15, for a total transaction of $780,189.40. Following the completion of the transaction, the chief operating officer owned 339,545 shares of the company’s stock, valued at $11,935,006.75. The trade was a 6.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Kira Makagon also recently made the following trade(s):

• On Friday, February 20th, Kira Makagon sold 46,960 shares of RingCentral stock. The stock was sold at an average price of $35.49, for a total transaction of $1,666,610.40.
• On Friday, December 26th, Kira Makagon sold 6,495 shares of RingCentral stock. The shares were sold at an average price of $29.22, for a total transaction of $189,783.90.

RingCentral Price Performance

Shares of NYSE:RNG traded down $0.88 during trading on Friday, hitting $36.26. 3,328,981 shares of the company were exchanged, compared to its average volume of 4,083,173. RingCentral, Inc. has a 52-week low of $20.58 and a 52-week high of $40.64. The stock has a 50 day moving average of $28.98 and a 200 day moving average of $29.14. The company has a market cap of $3.14 billion, a PE ratio of 75.54, a P/E/G ratio of 1.47 and a beta of 1.23.

RingCentral (NYSE:RNG) last released its quarterly earnings data on Thursday, February 19th. The software maker reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The company had revenue of $644.03 million for the quarter, compared to analyst estimates of $643.52 million. RingCentral had a negative return on equity of 29.05% and a net margin of 1.73%.The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 EPS. RingCentral has set its FY 2026 guidance at 4.760-4.970 EPS and its Q1 2026 guidance at 1.160-1.190 EPS. Sell-side analysts forecast that RingCentral, Inc. will post 1.29 EPS for the current fiscal year.

RingCentral Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 9th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.30 annualized dividend and a yield of 0.8%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Oppenheimer restated an “outperform” rating on shares of RingCentral in a research report on Friday, February 20th. Weiss Ratings restated a “sell (d+)” rating on shares of RingCentral in a research report on Monday, December 29th. Robert W. Baird upped their target price on RingCentral from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday. Piper Sandler lifted their price target on RingCentral from $28.00 to $37.00 and gave the company a “neutral” rating in a research report on Monday. Finally, UBS Group set a $38.00 price objective on RingCentral in a report on Friday, February 20th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $34.04.

Hedge Funds Weigh In On RingCentral

Several institutional investors have recently modified their holdings of the company. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of RingCentral by 22.9% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,224,090 shares of the software maker’s stock worth $34,691,000 after acquiring an additional 228,202 shares during the last quarter. Y Intercept Hong Kong Ltd raised its position in RingCentral by 544.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 91,918 shares of the software maker’s stock worth $2,605,000 after purchasing an additional 77,663 shares during the period. Russell Investments Group Ltd. lifted its stake in RingCentral by 79.4% in the second quarter. Russell Investments Group Ltd. now owns 340,188 shares of the software maker’s stock worth $9,610,000 after purchasing an additional 150,537 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in RingCentral by 29.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 599,629 shares of the software maker’s stock valued at $16,999,000 after buying an additional 134,992 shares during the period. Finally, Vise Technologies Inc. bought a new position in shares of RingCentral during the second quarter valued at about $430,000. 98.61% of the stock is currently owned by institutional investors.

About RingCentral

RingCentral, Inc is a leading provider of cloud-based business communications and collaboration solutions. The company’s flagship platform delivers unified communications as a service (UCaaS), integrating voice over IP (VoIP) phone systems, video conferencing, team messaging and SMS into a single, cloud-native application. In addition to its UCaaS offering, RingCentral provides contact center as a service (CCaaS) capabilities, enabling organizations to manage customer interactions across voice, email, chat and social channels from a centralized dashboard.

Founded in 1999 and headquartered in Belmont, California, RingCentral went public on the New York Stock Exchange under the ticker RNG in 2013.