Vladimir Shmunis Sells 16,898 Shares of RingCentral Inc (NYSE:RNG) Stock

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RingCentral Inc (NYSE:RNG) CEO Vladimir Shmunis sold 16,898 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $120.69, for a total transaction of $2,039,419.62. Following the transaction, the chief executive officer now owns 282,297 shares in the company, valued at $34,070,424.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Vladimir Shmunis also recently made the following trade(s):

  • On Thursday, July 11th, Vladimir Shmunis sold 50,700 shares of RingCentral stock. The stock was sold at an average price of $122.18, for a total transaction of $6,194,526.00.
  • On Tuesday, June 11th, Vladimir Shmunis sold 14,798 shares of RingCentral stock. The stock was sold at an average price of $119.07, for a total transaction of $1,761,997.86.
  • On Thursday, June 13th, Vladimir Shmunis sold 50,700 shares of RingCentral stock. The stock was sold at an average price of $118.13, for a total transaction of $5,989,191.00.
  • On Wednesday, May 22nd, Vladimir Shmunis sold 16,901 shares of RingCentral stock. The stock was sold at an average price of $123.20, for a total transaction of $2,082,203.20.
  • On Monday, May 20th, Vladimir Shmunis sold 51,923 shares of RingCentral stock. The stock was sold at an average price of $120.87, for a total transaction of $6,275,933.01.

NYSE:RNG traded down $0.02 on Thursday, hitting $122.37. The stock had a trading volume of 348,300 shares, compared to its average volume of 800,441. The company has a debt-to-equity ratio of 1.19, a quick ratio of 3.08 and a current ratio of 3.08. The firm has a market capitalization of $10.05 billion, a PE ratio of -3,059.25 and a beta of 0.79. The stock has a fifty day moving average price of $118.34. RingCentral Inc has a 1-year low of $64.41 and a 1-year high of $127.00.

RingCentral (NYSE:RNG) last posted its earnings results on Monday, May 6th. The software maker reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.16). RingCentral had a negative net margin of 4.12% and a negative return on equity of 0.73%. The firm had revenue of $201.50 million during the quarter, compared to analyst estimates of $193.54 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The business’s revenue for the quarter was up 34.1% compared to the same quarter last year. Analysts forecast that RingCentral Inc will post -0.43 EPS for the current year.

Several hedge funds have recently modified their holdings of the company. Signaturefd LLC lifted its holdings in shares of RingCentral by 31.4% in the 1st quarter. Signaturefd LLC now owns 364 shares of the software maker’s stock worth $39,000 after acquiring an additional 87 shares during the last quarter. Sheets Smith Wealth Management lifted its holdings in shares of RingCentral by 4.0% in the 1st quarter. Sheets Smith Wealth Management now owns 4,305 shares of the software maker’s stock worth $464,000 after acquiring an additional 166 shares during the last quarter. Neuburgh Advisers LLC acquired a new position in shares of RingCentral in the 4th quarter worth approximately $25,000. CX Institutional acquired a new position in shares of RingCentral in the 1st quarter worth approximately $36,000. Finally, Penserra Capital Management LLC acquired a new position in shares of RingCentral in the 1st quarter worth approximately $36,000. Hedge funds and other institutional investors own 81.88% of the company’s stock.

RNG has been the topic of a number of recent research reports. Needham & Company LLC restated a “buy” rating and set a $34.00 price target (up from $32.00) on shares of Kornit Digital in a research report on Tuesday, June 18th. Zacks Investment Research lowered shares of GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a research report on Thursday, July 4th. Stephens reiterated a “buy” rating and issued a $74.00 target price on shares of Everbridge in a report on Monday, May 6th. Northland Securities reiterated a “buy” rating and issued a $12.00 target price on shares of Medallion Financial in a report on Tuesday, May 7th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $105.00 target price on shares of RingCentral in a report on Monday, March 25th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $121.95.

About RingCentral

RingCentral, Inc provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect primarily in North America. The company's products include RingCentral Office, provides communication and collaboration across various modes, including high-definition voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax through smartphones, tablets, PCs, and desk phones; RingCentral Professional, a cloud based virtual telephone service for professionals, as well as provides inbound call answering and management services, and includes inbound local, long-distance, and toll-free minutes; and RingCentral Fax that provides online fax capabilities that allow businesses to send and receive fax documents without a fax machine.

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