RingCentral (NYSE:RNG) CFO Vaibhav Agarwal Sells 18,680 Shares

RingCentral, Inc. (NYSE:RNG) CFO Vaibhav Agarwal sold 18,680 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $36.33, for a total value of $678,644.40. Following the transaction, the chief financial officer owned 139,493 shares of the company’s stock, valued at approximately $5,067,780.69. This trade represents a 11.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Vaibhav Agarwal also recently made the following trade(s):

• On Monday, February 23rd, Vaibhav Agarwal sold 10,744 shares of RingCentral stock. The stock was sold at an average price of $35.50, for a total transaction of $381,412.00.

RingCentral Price Performance

NYSE:RNG opened at $36.89 on Wednesday. The stock has a market cap of $3.19 billion, a P/E ratio of 76.86, a PEG ratio of 1.42 and a beta of 1.14. RingCentral, Inc. has a one year low of $20.58 and a one year high of $40.64. The company has a fifty day moving average price of $29.27 and a 200 day moving average price of $29.22.

RingCentral (NYSE:RNG) last posted its quarterly earnings results on Thursday, February 19th. The software maker reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. The company had revenue of $644.03 million for 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 29.05%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the business posted $0.98 EPS. RingCentral has set its FY 2026 guidance at 4.760-4.970 EPS and its Q1 2026 guidance at 1.160-1.190 EPS. As a group, equities research analysts anticipate that RingCentral, Inc. will post 1.29 EPS for the current year.

RingCentral Announces Dividend

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

Institutional Investors Weigh In On RingCentral

A number of hedge funds have recently made changes to their positions in the company. DGS Capital Management LLC acquired a new position in RingCentral in the fourth quarter valued at about $239,000. Kera Capital Partners Inc. raised its stake in shares of RingCentral by 75.5% in the fourth quarter. Kera Capital Partners Inc. now owns 16,633 shares of the software maker’s stock valued at $480,000 after acquiring an additional 7,153 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of RingCentral by 43.3% in the 4th quarter. Invesco Ltd. now owns 218,456 shares of the software maker’s stock worth $6,309,000 after acquiring an additional 65,975 shares in the last quarter. Corient Private Wealth LLC grew its position in RingCentral by 928.0% during the 4th quarter. Corient Private Wealth LLC now owns 86,537 shares of the software maker’s stock worth $2,499,000 after acquiring an additional 78,119 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its holdings in RingCentral by 108.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 20,737 shares of the software maker’s stock valued at $599,000 after purchasing an additional 10,765 shares in the last quarter. Institutional investors and hedge funds own 98.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on RNG. Piper Sandler raised 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. Morgan Stanley increased their price objective on shares of RingCentral from $30.00 to $33.00 and gave the company an “equal weight” rating in a research note on Friday, February 20th. Mizuho lifted their target price on shares of RingCentral from $27.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Robert W. Baird upped 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. Finally, Needham & Company LLC restated a “buy” rating and set a $36.00 price target on shares of RingCentral in a research note on Tuesday, November 4th. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently 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.