RingCentral (NYSE:RNG) CAO Sells $134,549.22 in Stock

RingCentral, Inc. (NYSE:RNG) CAO Tarun Arora sold 3,723 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $36.14, for a total transaction of $134,549.22. Following the completion of the sale, the chief accounting officer directly owned 84,332 shares in the company, valued at approximately $3,047,758.48. This represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Tarun Arora also recently made the following trade(s):

• On Thursday, February 26th, Tarun Arora sold 773 shares of RingCentral stock. The stock was sold at an average price of $34.80, for a total transaction of $26,900.40.

RingCentral Trading Up 2.1%

NYSE:RNG traded up $0.75 during trading hours on Tuesday, hitting $36.89. The company’s stock had a trading volume of 2,718,638 shares, compared to its average volume of 4,196,684. RingCentral, Inc. has a 52-week low of $20.58 and a 52-week high of $40.64. The stock has a market capitalization of $3.19 billion, a P/E ratio of 76.86, a price-to-earnings-growth ratio of 1.42 and a beta of 1.14. The stock has a fifty day moving average of $29.27 and a 200-day moving average of $29.22.

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

RingCentral Dividend Announcement

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

Hedge Funds Weigh In On RingCentral

Large investors have recently made changes to their positions in the stock. Global Retirement Partners LLC lifted its position in shares of RingCentral by 98.5% during the 3rd quarter. Global Retirement Partners LLC now owns 901 shares of the software maker’s stock valued at $26,000 after acquiring an additional 447 shares during the period. EverSource Wealth Advisors LLC grew its holdings in RingCentral by 269.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock valued at $29,000 after purchasing an additional 738 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of RingCentral in the third quarter valued at $30,000. Jones Financial Companies Lllp raised its stake in shares of RingCentral by 61.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,217 shares of the software maker’s stock worth $37,000 after buying an additional 464 shares during the last quarter. Finally, Covestor Ltd boosted its position in shares of RingCentral by 198.5% in the 4th quarter. Covestor Ltd now owns 1,594 shares of the software maker’s stock worth $46,000 after buying an additional 1,060 shares in the last quarter. Hedge funds and other institutional investors own 98.61% of the company’s stock.

Wall Street Analysts Forecast Growth

RNG has been the subject of several research analyst reports. Rosenblatt Securities increased their price objective on RingCentral from $32.00 to $37.50 and gave the company a “buy” rating in a report on Friday, February 20th. Piper Sandler increased their price target on shares of RingCentral from $28.00 to $37.00 and gave the stock a “neutral” rating in a research note on Monday, February 23rd. Zacks Research lowered shares of RingCentral from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. Mizuho upped their target price on shares of RingCentral from $27.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, February 20th. Finally, UBS Group set a $38.00 price target on RingCentral in a report on Friday, February 20th. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $34.04.

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.