Insider Selling: RingCentral (NYSE:RNG) COO Sells $722,669.52 in Stock

RingCentral, Inc. (NYSE:RNG) COO Kira Makagon sold 16,988 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $42.54, for a total transaction of $722,669.52. Following the sale, the chief operating officer directly owned 212,724 shares of the company’s stock, valued at $9,049,278.96. This represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 Monday, April 27th, Kira Makagon sold 5,870 shares of RingCentral stock. The shares were sold at an average price of $40.27, for a total transaction of $236,384.90.
• On Friday, February 27th, Kira Makagon sold 22,196 shares of RingCentral stock. The shares were sold at an average price of $35.15, for a total transaction of $780,189.40.

RingCentral Trading Up 3.8%

RNG stock opened at $43.45 on Friday. RingCentral, Inc. has a one year low of $23.59 and a one year high of $48.57. The firm has a market capitalization of $3.64 billion, a PE ratio of 46.23, a P/E/G ratio of 1.27 and a beta of 1.13. The firm has a 50-day moving average of $40.06 and a two-hundred day moving average of $33.65.

RingCentral (NYSE:RNG) last posted its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The company had revenue of $644.20 million during the quarter, compared to analyst estimates of $642.73 million. During the same period in the prior year, the firm earned $1.00 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. On average, equities research analysts anticipate that RingCentral, Inc. will post 2.79 earnings per share for the current year.

RingCentral Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, June 2nd. RingCentral’s dividend payout ratio is 31.91%.

Hedge Funds Weigh In On RingCentral

Hedge funds have recently added to or reduced their stakes in the company. Capital World Investors grew its holdings in RingCentral by 20.9% during the third quarter. Capital World Investors now owns 11,735,991 shares of the software maker’s stock valued at $332,598,000 after purchasing an additional 2,031,861 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in RingCentral during the third quarter valued at approximately $53,365,000. LSV Asset Management grew its holdings in RingCentral by 142.4% during the fourth quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock valued at $82,935,000 after purchasing an additional 1,686,900 shares during the last quarter. Quantinno Capital Management LP grew its holdings in RingCentral by 150.4% during the first quarter. Quantinno Capital Management LP now owns 1,976,995 shares of the software maker’s stock valued at $73,524,000 after purchasing an additional 1,187,437 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in RingCentral by 35.4% during the fourth quarter. AQR Capital Management LLC now owns 2,003,950 shares of the software maker’s stock valued at $57,874,000 after purchasing an additional 523,966 shares during the last quarter. Institutional investors and hedge funds own 98.61% of the company’s stock.

Analyst Ratings Changes

RNG has been the subject of a number of research analyst reports. Robert W. Baird set a $45.00 price target on shares of RingCentral in a research report on Friday, May 8th. Needham & Company LLC increased their price target on shares of RingCentral from $36.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Morgan Stanley increased their price target on shares of RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Weiss Ratings raised shares of RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Finally, Zacks Research raised shares of RingCentral from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Three investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $43.00.

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.