Insider Selling: RingCentral (NYSE:RNG) CAO Sells $122,427.76 in Stock

RingCentral, Inc. (NYSE:RNG) CAO Tarun Arora sold 1,876 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $65.26, for a total transaction of $122,427.76. Following the completion of the sale, the chief accounting officer directly owned 80,384 shares in the company, valued at $5,245,859.84. This represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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, August 25th, Tarun Arora sold 675 shares of RingCentral stock. The stock was sold at an average price of $67.45, for a total value of $45,528.75.
• On Friday, May 29th, Tarun Arora sold 3,615 shares of RingCentral stock. The shares were sold at an average price of $43.00, for a total value of $155,445.00.
• On Tuesday, May 26th, Tarun Arora sold 919 shares of RingCentral stock. The shares were sold at an average price of $42.66, for a total value of $39,204.54.

RingCentral Price Performance

Shares of RingCentral stock opened at $66.18 on Thursday. The firm has a market cap of $5.53 billion, a price-to-earnings ratio of 52.94, a price-to-earnings-growth ratio of 1.14 and a beta of 1.10. The stock’s 50-day moving average is $49.85 and its 200-day moving average is $42.52. RingCentral, Inc. has a one year low of $24.14 and a one year high of $68.45.

RingCentral (NYSE:RNG) last posted its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.06. The business had revenue of $657.01 million during the quarter, compared to the consensus estimate of $650.53 million. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.RingCentral’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the company 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. On average, equities analysts expect that RingCentral, Inc. will post 2.89 EPS for the current year.

RingCentral Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, August 6th. This is a boost from RingCentral’s previous quarterly dividend of $0.07. RingCentral’s payout ratio is currently 40.00%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating on shares of RingCentral in a report on Monday, July 20th. Rosenblatt Securities reiterated a “buy” rating and set a $50.00 price target on shares of RingCentral in a report on Friday, July 24th. Wells Fargo & Company boosted their price target on RingCentral from $43.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Piper Sandler upped their price objective on RingCentral from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of RingCentral in a research report on Friday, July 17th. Three research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, RingCentral has an average rating of “Hold” and a consensus target price of $46.60.

Hedge Funds Weigh In On RingCentral

Several institutional investors and hedge funds have recently made changes to their positions in RNG. California State Teachers Retirement System increased its position in shares of RingCentral by 3,720.4% during the second quarter. California State Teachers Retirement System now owns 3,166,501 shares of the software maker’s stock worth $123,430,000 after buying an additional 3,083,616 shares during the period. Alyeska Investment Group L.P. acquired a new position in RingCentral during the 3rd quarter worth approximately $53,365,000. LSV Asset Management lifted its holdings in shares of RingCentral by 142.4% in the 4th quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock worth $82,935,000 after purchasing an additional 1,686,900 shares in the last quarter. Quantinno Capital Management LP lifted its stake in shares of RingCentral by 150.4% in 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 buying an additional 1,187,437 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in RingCentral by 35.4% in the 4th quarter. AQR Capital Management LLC now owns 2,003,950 shares of the software maker’s stock valued at $57,874,000 after acquiring an additional 523,966 shares in the last quarter. Institutional investors and hedge funds own 98.61% of the company’s stock.

RingCentral Company Profile

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.