RingCentral (NYSE:RNG) CAO Tarun Arora Sells 3,615 Shares of Stock

RingCentral, Inc. (NYSE:RNG) CAO Tarun Arora sold 3,615 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $43.00, for a total value of $155,445.00. Following the transaction, the chief accounting officer owned 68,100 shares of the company’s stock, valued at approximately $2,928,300. This represents a 5.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, May 26th, Tarun Arora sold 919 shares of RingCentral stock. The stock was sold at an average price of $42.66, for a total value of $39,204.54.
• On Tuesday, April 21st, Tarun Arora sold 953 shares of RingCentral stock. The stock was sold at an average price of $43.00, for a total value of $40,979.00.
• On Tuesday, March 10th, Tarun Arora sold 8,840 shares of RingCentral stock. The stock was sold at an average price of $40.69, for a total value of $359,699.60.

RingCentral Trading Down 5.6%

Shares of NYSE RNG opened at $46.35 on Wednesday. The stock has a 50 day simple moving average of $40.29 and a 200-day simple moving average of $33.85. The company has a market cap of $3.89 billion, a PE ratio of 49.31, a P/E/G ratio of 1.44 and a beta of 1.14. RingCentral, Inc. has a 12-month low of $23.59 and a 12-month high of $49.85.

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

RingCentral Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd will be given a dividend of $0.075 per share. The ex-dividend date is Tuesday, June 2nd. This represents a $0.30 annualized dividend and a dividend yield of 0.6%. RingCentral’s payout ratio is currently 31.91%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on RNG shares. Rosenblatt Securities boosted their price objective on RingCentral from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Zacks Research upgraded RingCentral from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. UBS Group set a $38.00 target price on RingCentral in a research report on Friday, February 20th. Mizuho upped their target price on RingCentral from $27.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Finally, Piper Sandler upped their target price on RingCentral from $28.00 to $37.00 and gave the stock a “neutral” rating in a research report on Monday, February 23rd. Three equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $43.00.

Institutional Investors Weigh In On RingCentral

A number of institutional investors have recently added to or reduced their stakes in RNG. WealthCollab LLC lifted its position in RingCentral by 59.7% in the first quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock worth $26,000 after purchasing an additional 259 shares during the period. Meeder Asset Management Inc. lifted its position in RingCentral by 127.3% in the first quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock worth $27,000 after purchasing an additional 410 shares during the period. EverSource Wealth Advisors LLC lifted its position in RingCentral by 269.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock worth $29,000 after purchasing an additional 738 shares during the period. Rockefeller Capital Management L.P. lifted its position in RingCentral by 70.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock worth $30,000 after purchasing an additional 424 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in RingCentral in the third quarter worth approximately $30,000. 98.61% of the stock is currently owned by institutional investors and hedge funds.

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.