RingCentral Inc (RNG) CEO Sells $2,082,203.20 in Stock

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RingCentral Inc (NYSE:RNG) CEO Vladimir Shmunis sold 16,901 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $123.20, for a total value of $2,082,203.20. Following the sale, the chief executive officer now owns 325,018 shares in the company, valued at $40,042,217.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Monday, May 20th, Vladimir Shmunis sold 51,923 shares of RingCentral stock. The shares were sold at an average price of $120.87, for a total value of $6,275,933.01.
  • On Tuesday, April 9th, Vladimir Shmunis sold 16,898 shares of RingCentral stock. The shares were sold at an average price of $102.93, for a total value of $1,739,311.14.
  • On Thursday, April 11th, Vladimir Shmunis sold 50,700 shares of RingCentral stock. The shares were sold at an average price of $103.72, for a total value of $5,258,604.00.
  • On Monday, March 11th, Vladimir Shmunis sold 16,898 shares of RingCentral stock. The shares were sold at an average price of $104.36, for a total value of $1,763,475.28.
  • On Wednesday, March 13th, Vladimir Shmunis sold 50,700 shares of RingCentral stock. The shares were sold at an average price of $105.11, for a total value of $5,329,077.00.
  • On Friday, February 22nd, Vladimir Shmunis sold 134,269 shares of RingCentral stock. The shares were sold at an average price of $104.05, for a total value of $13,970,689.45.

Shares of NYSE RNG opened at $119.31 on Friday. RingCentral Inc has a 12 month low of $64.41 and a 12 month high of $125.27. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 1.19. The stock has a market cap of $10.04 billion, a PE ratio of -2,982.75 and a beta of 0.95.

RingCentral (NYSE:RNG) last issued its earnings results on Monday, May 6th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.16). The firm had revenue of $201.50 million during the quarter, compared to analysts’ expectations of $193.54 million. RingCentral had a negative return on equity of 0.73% and a negative net margin of 4.12%. The firm’s quarterly revenue was up 34.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 EPS. Sell-side analysts anticipate that RingCentral Inc will post -0.43 EPS for the current year.

Several brokerages have recently weighed in on RNG. Zacks Investment Research upgraded RingCentral from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research report on Friday, April 26th. Deutsche Bank boosted their price objective on RingCentral from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Craig Hallum boosted their price objective on RingCentral from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Jefferies Financial Group boosted their price objective on RingCentral from $121.00 to $140.00 in a report on Tuesday, May 7th. Finally, UBS Group boosted their price objective on RingCentral from $117.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $120.72.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC boosted its stake in RingCentral by 31.4% in the first quarter. Signaturefd LLC now owns 364 shares of the software maker’s stock worth $39,000 after buying an additional 87 shares in the last quarter. Utah Retirement Systems boosted its stake in RingCentral by 0.8% in the fourth quarter. Utah Retirement Systems now owns 12,600 shares of the software maker’s stock worth $1,039,000 after buying an additional 100 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in RingCentral by 1.9% in the fourth quarter. State of Alaska Department of Revenue now owns 8,420 shares of the software maker’s stock worth $694,000 after buying an additional 161 shares in the last quarter. Sheets Smith Wealth Management boosted its stake in RingCentral by 4.0% in the first quarter. Sheets Smith Wealth Management now owns 4,305 shares of the software maker’s stock worth $464,000 after buying an additional 166 shares in the last quarter. Finally, Moloney Securities Asset Management LLC boosted its stake in RingCentral by 6.7% in the fourth quarter. Moloney Securities Asset Management LLC now owns 3,200 shares of the software maker’s stock worth $264,000 after buying an additional 200 shares in the last quarter.

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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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