Kira Makagon Sells 5,870 Shares of RingCentral (NYSE:RNG) Stock

RingCentral, Inc. (NYSE:RNG) COO Kira Makagon sold 5,870 shares of RingCentral stock in a transaction on Monday, April 27th. The stock was sold at an average price of $40.27, for a total transaction of $236,384.90. Following the transaction, the chief operating officer directly owned 236,715 shares of the company’s stock, valued at $9,532,513.05. The trade was a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, February 27th, Kira Makagon sold 22,196 shares of RingCentral stock. The stock was sold at an average price of $35.15, for a total transaction of $780,189.40.
• 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.

RingCentral Stock Up 1.5%

NYSE RNG opened at $40.15 on Thursday. The company has a fifty day moving average of $37.94 and a two-hundred day moving average of $31.63. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 83.65, a PEG ratio of 1.55 and a beta of 1.14. RingCentral, Inc. has a 52 week low of $23.59 and a 52 week high of $43.83.

RingCentral (NYSE:RNG) last posted its quarterly earnings data on Thursday, February 19th. The software maker reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. The company had revenue of $644.03 million during the quarter, compared to analyst estimates of $643.52 million. RingCentral had a net margin of 1.73% and a negative return on equity of 28.14%. RingCentral’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 earnings per share. RingCentral has set its FY 2026 guidance at 4.760-4.970 EPS and its Q1 2026 guidance at 1.160-1.190 EPS. Equities research analysts anticipate that RingCentral, Inc. will post 2.68 EPS for the current year.

RingCentral Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 9th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, March 9th. RingCentral’s payout ratio is presently 62.50%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RNG shares. Mizuho lifted their price objective on shares of RingCentral from $27.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Robert W. Baird boosted their target price on shares of RingCentral from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, February 23rd. Zacks Research raised shares of RingCentral from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Oppenheimer reissued an “outperform” rating on shares of RingCentral in a research note on Friday, February 20th. Finally, UBS Group set a $38.00 target price on shares of RingCentral in a research note on Friday, February 20th. Four analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $35.63.

Institutional Trading of RingCentral

A number of large investors have recently made changes to their positions in the stock. Fort Washington Investment Advisors Inc. OH raised its holdings in shares of RingCentral by 22.9% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 1,224,090 shares of the software maker’s stock valued at $34,691,000 after acquiring an additional 228,202 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of RingCentral in the third quarter valued at about $843,000. Y Intercept Hong Kong Ltd raised its holdings in shares of RingCentral by 544.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 91,918 shares of the software maker’s stock valued at $2,605,000 after acquiring an additional 77,663 shares in the last quarter. Invenomic Capital Management LP raised its holdings in shares of RingCentral by 3.9% in the third quarter. Invenomic Capital Management LP now owns 1,482,447 shares of the software maker’s stock valued at $42,013,000 after acquiring an additional 55,088 shares in the last quarter. Finally, Oak Harvest Investment Services bought a new stake in shares of RingCentral in the third quarter valued at about $1,873,000. 98.61% of the stock is owned by hedge funds and other 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.