RingCentral Inc (RNG) CEO Sells $4,860,417.26 in Stock

RingCentral Inc (NYSE:RNG) CEO Vladimir Shmunis sold 50,698 shares of the firm’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $95.87, for a total transaction of $4,860,417.26. Following the transaction, the chief executive officer now directly owns 315,671 shares of the company’s stock, valued at approximately $30,263,378.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

  • On Tuesday, September 11th, Vladimir Shmunis sold 16,897 shares of RingCentral stock. The shares were sold at an average price of $96.26, for a total transaction of $1,626,505.22.
  • On Wednesday, August 22nd, Vladimir Shmunis sold 16,901 shares of RingCentral stock. The shares were sold at an average price of $90.24, for a total transaction of $1,525,146.24.
  • On Monday, August 20th, Vladimir Shmunis sold 50,508 shares of RingCentral stock. The shares were sold at an average price of $89.29, for a total transaction of $4,509,859.32.

Shares of NYSE RNG opened at $95.70 on Friday. RingCentral Inc has a twelve month low of $38.45 and a twelve month high of $98.15. The firm has a market cap of $7.71 billion, a P/E ratio of -273.43 and a beta of 0.81. The company has a quick ratio of 4.32, a current ratio of 4.32 and a debt-to-equity ratio of 1.24.

RingCentral (NYSE:RNG) last announced its earnings results on Monday, August 6th. The software maker reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. RingCentral had a negative net margin of 3.92% and a negative return on equity of 5.93%. The business had revenue of $160.83 million during the quarter, compared to the consensus estimate of $155.71 million. During the same quarter last year, the firm earned $0.04 earnings per share. RingCentral’s quarterly revenue was up 34.1% on a year-over-year basis. research analysts predict that RingCentral Inc will post -0.14 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. US Bancorp DE raised its stake in RingCentral by 141.7% during the second quarter. US Bancorp DE now owns 1,745 shares of the software maker’s stock worth $123,000 after buying an additional 1,023 shares during the last quarter. Cerebellum GP LLC bought a new position in RingCentral during the second quarter worth $183,000. Sun Life Financial INC bought a new position in RingCentral during the second quarter worth $185,000. NewSquare Capital LLC bought a new position in RingCentral during the second quarter worth $188,000. Finally, IFP Advisors Inc bought a new position in RingCentral during the first quarter worth $198,000. 77.61% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently issued reports on the stock. Rosenblatt Securities assumed coverage on shares of RingCentral in a research note on Friday, September 7th. They set a “buy” rating and a $105.00 price target for the company. Jefferies Financial Group raised their price target on shares of RingCentral to $105.00 and gave the company a “buy” rating in a research note on Wednesday, September 5th. Bank of America raised their price target on shares of RingCentral from $86.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. Dougherty & Co raised their price target on shares of RingCentral from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. Finally, SunTrust Banks raised their price target on shares of RingCentral to $100.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $88.36.

RingCentral Company Profile

RingCentral, Inc provides software-as-a-service solutions for business communications and collaboration primarily in the United States. The company's products include RingCentral Office, a multi-tenant, multi-location, and enterprise-grade communications and collaboration solution that enables employees to communicate through voice, text, team messaging and collaboration, and HD video and Web conferencing through smartphones, tablets, PCs, and desk phones for businesses, which require a communications solution; RingCentral Professional, an inbound call routing subscription with additional text and fax capabilities primarily for smaller businesses; and RingCentral Fax solution that offers Internet fax capabilities, which allow businesses to send and receive fax documents without the need for a fax machine.

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

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