RingCentral (NYSE:RNG) CAO Tarun Arora Sells 3,723 Shares of Stock

RingCentral, Inc. (NYSE:RNG) CAO Tarun Arora sold 3,723 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $36.14, for a total value of $134,549.22. Following the completion of the sale, the chief accounting officer owned 84,332 shares in the company, valued at approximately $3,047,758.48. The trade was a 4.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Tarun Arora also recently made the following trade(s):

• On Thursday, February 26th, Tarun Arora sold 773 shares of RingCentral stock. The shares were sold at an average price of $34.80, for a total transaction of $26,900.40.

RingCentral Stock Performance

Shares of NYSE:RNG opened at $36.89 on Wednesday. The firm has a market capitalization of $3.19 billion, a PE ratio of 76.86, a price-to-earnings-growth ratio of 1.42 and a beta of 1.14. RingCentral, Inc. has a 52-week low of $20.58 and a 52-week high of $40.64. The firm has a fifty day moving average of $29.27 and a 200 day moving average of $29.22.

RingCentral (NYSE:RNG) last issued its quarterly earnings results on Thursday, February 19th. The software maker reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. RingCentral had a net margin of 1.73% and a negative return on equity of 29.05%. The business had revenue of $644.03 million for the quarter, compared to analysts’ expectations of $643.52 million. During the same period last year, the business earned $0.98 earnings per share. The business’s quarterly revenue was up 4.8% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.760-4.970 EPS and its Q1 2026 guidance at 1.160-1.190 EPS. On average, sell-side analysts forecast that RingCentral, Inc. will post 1.29 EPS for the current fiscal year.

RingCentral Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 9th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, March 9th.

Hedge Funds Weigh In On RingCentral

Large investors have recently modified their holdings of the stock. Empowered Funds LLC lifted its stake in shares of RingCentral by 9.0% in the first quarter. Empowered Funds LLC now owns 11,417 shares of the software maker’s stock worth $283,000 after buying an additional 940 shares in the last quarter. Woodline Partners LP lifted its holdings in shares of RingCentral by 14.8% during the first quarter. Woodline Partners LP now owns 159,474 shares of the software maker’s stock valued at $3,949,000 after purchasing an additional 20,518 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in RingCentral by 2.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,190 shares of the software maker’s stock worth $6,467,000 after buying an additional 5,398 shares in the last quarter. Envestnet Asset Management Inc. raised its position in RingCentral by 11.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 29,033 shares of the software maker’s stock worth $823,000 after buying an additional 2,923 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in RingCentral during the 2nd quarter valued at about $404,000. Hedge funds and other institutional investors own 98.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on RNG shares. Morgan Stanley upped their price objective on shares of RingCentral from $30.00 to $33.00 and gave the stock an “equal weight” rating in a report on Friday, February 20th. Zacks Research downgraded RingCentral from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. Rosenblatt Securities raised their target price on RingCentral from $32.00 to $37.50 and gave the company a “buy” rating in a research note on Friday, February 20th. Oppenheimer reaffirmed an “outperform” rating on shares of RingCentral in a research note on Friday, February 20th. Finally, Robert W. Baird raised their price objective on RingCentral from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, February 23rd. 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $34.04.

About RingCentral

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.