Vaibhav Agarwal Sells 1,688 Shares of RingCentral (NYSE:RNG) Stock

RingCentral, Inc. (NYSE:RNG) CFO Vaibhav Agarwal sold 1,688 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $65.50, for a total transaction of $110,564.00. Following the completion of the transaction, the chief financial officer directly owned 169,282 shares of the company’s stock, valued at approximately $11,087,971. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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.

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

• On Tuesday, June 2nd, Vaibhav Agarwal sold 7,047 shares of RingCentral stock. The stock was sold at an average price of $46.17, for a total value of $325,359.99.
• On Thursday, May 21st, Vaibhav Agarwal sold 4,044 shares of RingCentral stock. The stock was sold at an average price of $42.06, for a total value of $170,090.64.

RingCentral Price Performance

RNG opened at $66.07 on Thursday. RingCentral, Inc. has a 1-year low of $24.14 and a 1-year high of $68.45. The stock has a market cap of $5.52 billion, a P/E ratio of 52.85, a P/E/G ratio of 1.13 and a beta of 1.10. The stock’s 50 day simple moving average is $46.99 and its 200 day simple moving average is $41.10.

RingCentral (NYSE:RNG) last issued its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.06. The firm 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%.RingCentral’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted $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. Research analysts expect that RingCentral, Inc. will post 2.88 EPS for the current fiscal year.

RingCentral Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be paid a dividend of $0.125 per share. This is a boost from RingCentral’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $0.50 annualized dividend and a dividend yield of 0.8%. RingCentral’s dividend payout ratio is presently 40.00%.

Hedge Funds Weigh In On RingCentral

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC raised its stake in shares of RingCentral by 9.0% during the first quarter. Empowered Funds LLC now owns 11,417 shares of the software maker’s stock valued at $283,000 after purchasing an additional 940 shares during the period. Woodline Partners LP boosted its stake in shares of RingCentral by 14.8% in the first quarter. Woodline Partners LP now owns 159,474 shares of the software maker’s stock valued at $3,949,000 after purchasing an additional 20,518 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of RingCentral by 2.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,190 shares of the software maker’s stock valued at $6,467,000 after purchasing an additional 5,398 shares during the period. Creative Planning acquired a new stake in RingCentral during the 2nd quarter valued at $274,000. Finally, Invesco Ltd. grew its holdings in RingCentral by 10.8% during the 2nd quarter. Invesco Ltd. now owns 137,935 shares of the software maker’s stock valued at $3,910,000 after purchasing an additional 13,446 shares in the last quarter. Hedge funds and other institutional investors own 98.61% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on RNG. Jefferies Financial Group reiterated a “hold” rating and set a $40.00 price objective on shares of RingCentral in a research report on Saturday, May 9th. Wells Fargo & Company increased their price target on shares of RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Robert W. Baird set a $45.00 price objective on RingCentral in a report on Friday, May 8th. Piper Sandler raised their target price on shares of RingCentral from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Finally, Needham & Company LLC restated a “buy” rating on shares of RingCentral in a report on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, RingCentral has an average rating of “Hold” and an average price target of $44.40.

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.