Ringcentral (NYSE:RNG) COO Kira Makagon Sells 6,495 Shares

Ringcentral, Inc. (NYSE:RNG) COO Kira Makagon sold 6,495 shares of Ringcentral stock in a transaction on Friday, December 26th. The stock was sold at an average price of $29.22, for a total value of $189,783.90. Following the sale, the chief operating officer owned 336,162 shares in the company, valued at $9,822,653.64. The trade was a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Kira Makagon also recently made the following trade(s):

• On Wednesday, November 26th, Kira Makagon sold 14,798 shares of Ringcentral stock. The stock was sold at an average price of $28.11, for a total transaction of $415,971.78.

Ringcentral Stock Performance

RNG traded down $0.02 during midday trading on Monday, reaching $29.55. The company had a trading volume of 796,979 shares, compared to its average volume of 1,456,740. The business has a 50-day moving average price of $28.72 and a two-hundred day moving average price of $28.65. Ringcentral, Inc. has a 12-month low of $20.58 and a 12-month high of $37.23. The stock has a market cap of $2.56 billion, a PE ratio of 211.05, a P/E/G ratio of 1.52 and a beta of 1.29.

Ringcentral (NYSE:RNG) last posted its quarterly earnings data on Monday, November 3rd. The software maker reported $1.13 EPS for the quarter, beating the consensus estimate of $1.08 by $0.05. Ringcentral had a negative return on equity of 22.38% and a net margin of 0.53%.The business had revenue of $638.66 million for the quarter, compared to the consensus estimate of $635.39 million. During the same quarter in the prior year, the business earned $0.95 earnings per share. Ringcentral’s revenue for the quarter was up 4.9% on a year-over-year basis. Ringcentral has set its FY 2025 guidance at 4.290-4.330 EPS and its Q4 2025 guidance at 1.120-1.150 EPS. On average, research analysts anticipate that Ringcentral, Inc. will post 1.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on RNG. Needham & Company LLC reiterated a “buy” rating and set a $36.00 target price on shares of Ringcentral in a research report on Tuesday, November 4th. Wells Fargo & Company initiated coverage on shares of Ringcentral in a report on Tuesday, September 30th. They issued an “equal weight” rating and a $32.00 price objective for the company. Rosenblatt Securities restated a “buy” rating and set a $32.00 target price on shares of Ringcentral in a research report on Tuesday, November 4th. Morgan Stanley lifted their price target on Ringcentral from $29.00 to $31.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ringcentral in a report on Monday, December 22nd. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Ringcentral presently has a consensus rating of “Hold” and a consensus price target of $31.54.

Institutional Trading of Ringcentral

Institutional investors and hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC grew its position in Ringcentral by 98.5% in the third quarter. Global Retirement Partners LLC now owns 901 shares of the software maker’s stock worth $26,000 after acquiring an additional 447 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Ringcentral in the 3rd quarter worth about $30,000. Jones Financial Companies Lllp raised its holdings in shares of Ringcentral by 61.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,217 shares of the software maker’s stock valued at $37,000 after buying an additional 464 shares in the last quarter. Parallel Advisors LLC lifted its position in Ringcentral by 256.9% in the 2nd quarter. Parallel Advisors LLC now owns 1,481 shares of the software maker’s stock worth $42,000 after buying an additional 1,066 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in Ringcentral in the second quarter worth approximately $49,000. Hedge funds and other institutional investors own 98.61% of the company’s stock.

Ringcentral Company Profile

RingCentral, Inc is a leading provider of cloud-based business communications and collaboration solutions. The company’s flagship platform delivers unified communications as a service (UCaaS), integrating voice over IP (VoIP) phone systems, video conferencing, team messaging and SMS into a single, cloud-native application. In addition to its UCaaS offering, RingCentral provides contact center as a service (CCaaS) capabilities, enabling organizations to manage customer interactions across voice, email, chat and social channels from a centralized dashboard.

Founded in 1999 and headquartered in Belmont, California, RingCentral went public on the New York Stock Exchange under the ticker RNG in 2013.