Insider Selling: RingCentral Inc (RNG) Insider Sells 2,662 Shares of Stock

RingCentral Inc (NYSE:RNG) insider Praful Shah sold 2,662 shares of RingCentral stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $103.43, for a total value of $275,330.66. Following the transaction, the insider now owns 262,509 shares in the company, valued at approximately $27,151,305.87. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Praful Shah also recently made the following trade(s):

  • On Wednesday, March 6th, Praful Shah sold 5,324 shares of RingCentral stock. The shares were sold at an average price of $103.42, for a total value of $550,608.08.
  • On Monday, February 25th, Praful Shah sold 3,285 shares of RingCentral stock. The shares were sold at an average price of $106.11, for a total value of $348,571.35.

Shares of RNG opened at $119.46 on Friday. RingCentral Inc has a 12-month low of $64.41 and a 12-month high of $119.46. The company has a quick ratio of 3.55, a current ratio of 3.55 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $9.71 billion, a price-to-earnings ratio of -2,986.50 and a beta of 0.95.

RingCentral (NYSE:RNG) last issued its quarterly earnings results on Monday, February 11th. The software maker reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.05. The company had revenue of $188.62 million during the quarter, compared to analysts’ expectations of $180.91 million. RingCentral had a negative return on equity of 0.69% and a negative net margin of 3.89%. As a group, research analysts forecast that RingCentral Inc will post -0.43 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Neuburgh Advisers LLC acquired a new stake in RingCentral during the fourth quarter worth approximately $25,000. Ffcm LLC acquired a new stake in RingCentral during the fourth quarter worth approximately $27,000. CX Institutional acquired a new stake in RingCentral during the first quarter worth approximately $36,000. Karp Capital Management Corp acquired a new stake in RingCentral during the fourth quarter worth approximately $41,000. Finally, Parallel Advisors LLC grew its stake in RingCentral by 416.7% during the first quarter. Parallel Advisors LLC now owns 620 shares of the software maker’s stock worth $67,000 after purchasing an additional 500 shares during the period. 81.48% of the stock is owned by institutional investors.

Several research analysts have weighed in on RNG shares. Zacks Investment Research lowered RingCentral from a “buy” rating to a “hold” rating in a research report on Saturday, February 16th. Bank of America reaffirmed a “buy” rating and set a $110.00 price target (up previously from $93.00) on shares of RingCentral in a research report on Thursday, February 7th. Jefferies Financial Group boosted their price target on RingCentral from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, February 12th. Morgan Stanley boosted their target price on RingCentral from $84.00 to $93.00 and gave the stock an “equal weight” rating in a report on Monday, January 7th. Finally, SunTrust Banks boosted their target price on RingCentral to $120.00 and gave the stock a “buy” rating in a report on Tuesday, February 12th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. RingCentral presently has a consensus rating of “Buy” and a consensus price target of $113.80.

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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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