Insider Selling: RingCentral Inc (NYSE:RNG) CEO Sells $6,194,526.00 in Stock

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RingCentral Inc (NYSE:RNG) CEO Vladimir Shmunis sold 50,700 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $122.18, for a total transaction of $6,194,526.00. Following the transaction, the chief executive officer now directly owns 282,297 shares of the company’s stock, valued at $34,491,047.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

  • On Tuesday, July 9th, Vladimir Shmunis sold 16,898 shares of RingCentral stock. The shares were sold at an average price of $120.69, for a total transaction of $2,039,419.62.
  • On Tuesday, June 11th, Vladimir Shmunis sold 14,798 shares of RingCentral stock. The shares were 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 shares were 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 shares were 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 shares were sold at an average price of $120.87, for a total transaction of $6,275,933.01.

RNG stock opened at $122.97 on Friday. RingCentral Inc has a 52 week low of $64.41 and a 52 week high of $127.00. The company has a market cap of $10.08 billion, a P/E ratio of -3,074.25 and a beta of 0.79. The stock’s 50-day moving average is $118.43. The company has a debt-to-equity ratio of 1.19, a current ratio of 3.08 and a quick ratio of 3.08.

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

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its position in shares of RingCentral by 14.2% during the 4th quarter. FMR LLC now owns 7,227,409 shares of the software maker’s stock worth $595,828,000 after buying an additional 898,876 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of RingCentral by 35.7% in the 1st quarter. Victory Capital Management Inc. now owns 1,929,832 shares of the software maker’s stock worth $208,036,000 after purchasing an additional 507,225 shares in the last quarter. Whale Rock Capital Management LLC raised its holdings in shares of RingCentral by 7.3% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,532,364 shares of the software maker’s stock worth $126,328,000 after purchasing an additional 104,756 shares in the last quarter. Columbus Circle Investors raised its holdings in shares of RingCentral by 3.6% in the 1st quarter. Columbus Circle Investors now owns 1,018,447 shares of the software maker’s stock worth $109,789,000 after purchasing an additional 35,385 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its holdings in shares of RingCentral by 294.0% in the 1st quarter. Eagle Asset Management Inc. now owns 683,008 shares of the software maker’s stock worth $73,628,000 after purchasing an additional 509,661 shares in the last quarter. Institutional investors own 81.88% of the company’s stock.

A number of research firms have issued reports on RNG. Bank of America set a $54.00 target price on shares of Fortis and gave the company a “buy” rating in a research note on Thursday, May 2nd. Jefferies Financial Group reissued a “hold” rating and set a $75.00 target price on shares of Bayerische Motoren Werke in a research note on Tuesday, May 7th. UBS Group reissued a “buy” rating and set a $25.00 target price on shares of Infineon Technologies in a research note on Tuesday, May 7th. Deutsche Bank set a €230.00 ($267.44) target price on shares of adidas and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Finally, SunTrust Banks boosted their target price on shares of Everbridge to $87.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $123.17.

RingCentral Company Profile

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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Insider Buying and Selling by Quarter for RingCentral (NYSE:RNG)

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