RingCentral Inc (NYSE:RNG) CEO Sells $2,692,500.00 in Stock

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.

RingCentral (NYSE:RNG) last announced its quarterly earnings results on Monday, August 3rd. The software maker reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The company had revenue of $277.90 million during the quarter, compared to analysts’ expectations of $262.98 million. RingCentral had a negative return on equity of 9.06% and a negative net margin of 9.52%. RingCentral’s revenue was up 29.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 EPS. Sell-side analysts anticipate that RingCentral Inc will post -0.68 earnings per share for the current year.

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.

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

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