RingCentral Inc (NYSE:RNG) CEO Vladimir Shmunis sold 10,000 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $269.25, for a total transaction of $2,692,500.00. Following the completion of the sale, the chief executive officer now owns 198,280 shares in the company, valued at approximately $53,386,890. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Vladimir Shmunis also recently made the following trade(s):
- On Tuesday, September 8th, Vladimir Shmunis sold 10,000 shares of RingCentral stock. The shares were sold at an average price of $261.18, for a total transaction of $2,611,800.00.
- On Monday, August 24th, Vladimir Shmunis sold 10,000 shares of RingCentral stock. The shares were sold at an average price of $283.34, for a total transaction of $2,833,400.00.
- On Friday, August 21st, Vladimir Shmunis sold 49,817 shares of RingCentral stock. The shares were sold at an average price of $289.79, for a total transaction of $14,436,468.43.
Shares of RNG stock traded up $18.79 on Thursday, reaching $278.05. The company had a trading volume of 3,280,343 shares, compared to its average volume of 1,289,365. The company has a current ratio of 2.70, a quick ratio of 2.70 and a debt-to-equity ratio of 1.89. The stock has a market cap of $23.15 billion, a PE ratio of -243.90 and a beta of 0.48. The company has a 50-day moving average of $282.96 and a 200-day moving average of $254.55. RingCentral Inc has a 12 month low of $120.03 and a 12 month high of $317.84.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC increased its stake in RingCentral by 89.1% during the 2nd quarter. Global Retirement Partners LLC now owns 104 shares of the software maker’s stock worth $30,000 after purchasing an additional 49 shares in the last quarter. Capital Advisory Group Advisory Services LLC bought a new stake in RingCentral during the 1st quarter worth approximately $26,000. Exchange Traded Concepts LLC increased its stake in RingCentral by 378.0% during the 2nd quarter. Exchange Traded Concepts LLC now owns 196 shares of the software maker’s stock worth $56,000 after purchasing an additional 155 shares in the last quarter. Bedel Financial Consulting Inc. bought a new stake in RingCentral during the 1st quarter worth approximately $42,000. Finally, Capstone Financial Group Inc. bought a new stake in RingCentral during the 2nd quarter worth approximately $57,000. 85.96% of the stock is owned by institutional investors and hedge funds.
RNG has been the topic of several research reports. Wolfe Research initiated coverage on shares of RingCentral in a research report on Friday, July 24th. They set an “outperform” rating and a $325.00 price target on the stock. Oppenheimer reiterated a “buy” rating and set a $330.00 price target on shares of RingCentral in a research report on Tuesday, August 11th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $375.00 price target on shares of RingCentral in a research report on Friday, August 7th. Craig Hallum upped their price target on shares of RingCentral from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Finally, KeyCorp upped their price target on shares of RingCentral from $315.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. RingCentral has a consensus rating of “Buy” and an average price target of $297.69.
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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