RingCentral (NYSE:RNG) COO Kira Makagon Sells 36,185 Shares of Stock

RingCentral, Inc. (NYSE:RNG) COO Kira Makagon sold 36,185 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $70.11, for a total transaction of $2,536,930.35. Following the completion of the transaction, the chief operating officer directly owned 245,385 shares in the company, valued at $17,203,942.35. This represents a 12.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

RingCentral Trading Up 1.7%

RNG stock opened at $73.66 on Thursday. RingCentral, Inc. has a 12-month low of $24.14 and a 12-month high of $77.95. The business’s 50-day moving average is $59.90 and its 200 day moving average is $46.75. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of 58.93, a PEG ratio of 1.25 and a beta of 1.14.

RingCentral (NYSE:RNG) last announced its earnings results on Thursday, July 23rd. The software maker reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. The business had revenue of $657.01 million during the quarter, compared to analysts’ expectations of $650.53 million. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.The business’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.06 earnings per share. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. As a group, equities analysts forecast that RingCentral, Inc. will post 2.89 EPS for the current fiscal year.

RingCentral Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 0.7%. The ex-dividend date was Thursday, August 6th. This is an increase from RingCentral’s previous quarterly dividend of $0.07. RingCentral’s dividend payout ratio (DPR) is currently 40.00%.

Analyst Upgrades and Downgrades

RNG has been the subject of several analyst reports. Wells Fargo & Company increased their price objective on RingCentral from $43.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 25th. Piper Sandler increased their price objective on shares of RingCentral from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Mizuho lifted their target price on shares of RingCentral from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Needham & Company LLC boosted their target price on RingCentral from $55.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Finally, Royal Bank Of Canada assumed coverage on RingCentral in a research note on Thursday, September 3rd. They set an “outperform” rating and a $85.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $56.00.

Institutional Investors Weigh In On RingCentral

Several large investors have recently added to or reduced their stakes in RNG. WealthCollab LLC grew its stake in shares of RingCentral by 59.7% in the first quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock worth $26,000 after acquiring an additional 259 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in RingCentral by 127.3% in the first quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock valued at $27,000 after purchasing an additional 410 shares during the period. EverSource Wealth Advisors LLC grew its stake in RingCentral by 269.3% during the 4th 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 in the last quarter. Rockefeller Capital Management L.P. increased its holdings in RingCentral by 70.5% during the 4th 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, SJS Investment Consulting Inc. raised its position in RingCentral by 598.3% in the 1st quarter. SJS Investment Consulting Inc. now owns 1,222 shares of the software maker’s stock valued at $45,000 after purchasing an additional 1,047 shares in the last quarter. 98.61% of the stock is owned by hedge funds and other institutional investors.

About RingCentral

RingCentral, Inc is a cloud communications and collaboration company that provides business communications software through a subscription-based platform. Its services are designed to help organizations manage voice, messaging, video meetings, team collaboration and other communications across devices and locations.

The company’s offerings include RingEX, its unified communications platform; RingCentral Video for online meetings and collaboration; RingCentral Events for virtual and hybrid events; and contact center products, including RingCX.