RingCentral Inc (RNG) COO Sells $454,398.00 in Stock

RingCentral Inc (NYSE:RNG) COO David Sipes sold 9,300 shares of the firm’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $48.86, for a total transaction of $454,398.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

David Sipes also recently made the following trade(s):

  • On Wednesday, December 13th, David Sipes sold 9,300 shares of RingCentral stock. The shares were sold at an average price of $48.08, for a total transaction of $447,144.00.
  • On Tuesday, November 28th, David Sipes sold 15,270 shares of RingCentral stock. The shares were sold at an average price of $49.06, for a total transaction of $749,146.20.
  • On Monday, October 16th, David Sipes sold 1,500 shares of RingCentral stock. The shares were sold at an average price of $44.00, for a total transaction of $66,000.00.

RingCentral Inc (NYSE RNG) opened at $52.35 on Friday. RingCentral Inc has a 52 week low of $21.35 and a 52 week high of $52.60.

RingCentral (NYSE:RNG) last issued its quarterly earnings data on Wednesday, November 8th. The software maker reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. RingCentral had a negative net margin of 5.80% and a negative return on equity of 17.97%. The business had revenue of $129.76 million during the quarter, compared to analysts’ expectations of $126.06 million. During the same period last year, the company posted $0.03 EPS. The business’s revenue was up 34.0% on a year-over-year basis. equities analysts expect that RingCentral Inc will post -0.33 earnings per share for the current year.

Several large investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. grew its stake in shares of RingCentral by 8.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,480 shares of the software maker’s stock worth $200,000 after buying an additional 418 shares in the last quarter. Suntrust Banks Inc. grew its stake in shares of RingCentral by 5.5% in the 2nd quarter. Suntrust Banks Inc. now owns 9,970 shares of the software maker’s stock worth $364,000 after buying an additional 523 shares in the last quarter. Amalgamated Bank grew its stake in shares of RingCentral by 11.5% in the 2nd quarter. Amalgamated Bank now owns 8,006 shares of the software maker’s stock worth $293,000 after buying an additional 825 shares in the last quarter. Legal & General Group Plc grew its stake in shares of RingCentral by 5.1% in the 2nd quarter. Legal & General Group Plc now owns 22,612 shares of the software maker’s stock worth $825,000 after buying an additional 1,089 shares in the last quarter. Finally, PDT Partners LLC grew its stake in shares of RingCentral by 0.5% in the 2nd quarter. PDT Partners LLC now owns 200,705 shares of the software maker’s stock worth $7,336,000 after buying an additional 1,091 shares in the last quarter. 76.29% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently weighed in on RNG shares. Northland Securities reaffirmed an “outperform” rating and set a $46.00 target price (up from $43.00) on shares of RingCentral in a research note on Tuesday, October 3rd. Oppenheimer raised their target price on shares of RingCentral from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Zacks Investment Research cut shares of RingCentral from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Jefferies Group reaffirmed a “buy” rating and set a $48.00 target price on shares of RingCentral in a research note on Thursday, October 19th. Finally, JPMorgan Chase & Co. cut shares of RingCentral from an “overweight” rating to a “neutral” rating and set a $52.00 target price for the company. in a research note on Tuesday, December 12th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $45.14.

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About RingCentral

RingCentral, Inc is a provider of software-as-a-service (SaaS) solutions for businesses to support modern communications. The Company’s cloud-based business communications solutions provide a single user identity across multiple locations and devices, including smartphones, tablets, personal computers (PCs) and desk phones, and allow for communication across multiple channels, including high definition (HD) voice, video, short messaging service (SMS), messaging and collaboration, conferencing, online meetings, and fax.

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

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