RingCentral (NYSE:RNG) CAO Tarun Arora Sells 919 Shares of Stock

RingCentral, Inc. (NYSE:RNG) CAO Tarun Arora sold 919 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $42.66, for a total transaction of $39,204.54. Following the sale, the chief accounting officer directly owned 71,715 shares of the company’s stock, valued at approximately $3,059,361.90. This trade represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, April 21st, Tarun Arora sold 953 shares of RingCentral stock. The stock was sold at an average price of $43.00, for a total transaction of $40,979.00.
• On Tuesday, March 10th, Tarun Arora sold 8,840 shares of RingCentral stock. The stock was sold at an average price of $40.69, for a total transaction of $359,699.60.
• On Tuesday, March 3rd, Tarun Arora sold 3,723 shares of RingCentral stock. The shares were sold at an average price of $36.14, for a total transaction of $134,549.22.

RingCentral Price Performance

NYSE:RNG opened at $41.98 on Friday. The firm has a 50-day moving average of $39.93 and a two-hundred day moving average of $33.58. The stock has a market cap of $3.52 billion, a P/E ratio of 44.65, a PEG ratio of 1.22 and a beta of 1.13. RingCentral, Inc. has a 1-year low of $23.59 and a 1-year high of $48.57.

RingCentral (NYSE:RNG) last posted its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. The company had revenue of $644.20 million during the quarter, compared to analysts’ expectations of $642.73 million. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 EPS. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. As a group, equities analysts expect that RingCentral, Inc. will post 2.79 earnings per share for the current year.

RingCentral Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, June 2nd. RingCentral’s dividend payout ratio is presently 31.91%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RNG. Wells Fargo & Company upped their price objective on shares of RingCentral from $32.00 to $43.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Rosenblatt Securities upped their price objective on shares of RingCentral from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Needham & Company LLC upped their price objective on shares of RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Morgan Stanley upped their target price on shares of RingCentral from $33.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Finally, Mizuho upped their target price on shares of RingCentral from $27.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. Three analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.00.

Institutional Investors Weigh In On RingCentral

A number of institutional investors have recently modified their holdings of the stock. WealthCollab LLC raised its stake in RingCentral by 59.7% during the first quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock worth $26,000 after acquiring an additional 259 shares during the period. Meeder Asset Management Inc. raised its stake in RingCentral by 127.3% during the first quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock worth $27,000 after acquiring an additional 410 shares during the period. EverSource Wealth Advisors LLC raised its stake in RingCentral by 269.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock worth $29,000 after acquiring an additional 738 shares during the period. Rockefeller Capital Management L.P. raised its stake in RingCentral by 70.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock worth $30,000 after acquiring an additional 424 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in RingCentral during the third quarter worth about $30,000. Institutional investors and hedge funds own 98.61% of the company’s stock.

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.