Tarun Arora Sells 3,615 Shares of RingCentral (NYSE:RNG) Stock

RingCentral, Inc. (NYSE:RNG) CAO Tarun Arora sold 3,615 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $43.00, for a total value of $155,445.00. Following the completion of the transaction, the chief accounting officer owned 68,100 shares in the company, valued at $2,928,300. This represents a 5.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, May 26th, Tarun Arora sold 919 shares of RingCentral stock. The stock was sold at an average price of $42.66, for a total value of $39,204.54.
• 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 value 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 value of $359,699.60.

RingCentral Stock Performance

NYSE:RNG opened at $44.14 on Thursday. The stock’s 50 day moving average price is $40.58 and its 200 day moving average price is $34.10. RingCentral, Inc. has a 52 week low of $23.59 and a 52 week high of $49.85. The company has a market capitalization of $3.70 billion, a P/E ratio of 46.95, a P/E/G ratio of 1.36 and a beta of 1.14.

RingCentral (NYSE:RNG) last released its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.The firm had revenue of $644.20 million for the quarter, compared to the consensus estimate of $642.73 million. During the same quarter in the prior year, the company posted $1.00 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. 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, sell-side analysts forecast that RingCentral, Inc. will post 2.79 earnings per share for the current fiscal year.

RingCentral Announces Dividend

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

Institutional Investors Weigh In On RingCentral

Large investors have recently added to or reduced their stakes in the stock. WealthCollab LLC boosted its position 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 purchasing an additional 259 shares during the period. Meeder Asset Management Inc. boosted its position 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 purchasing an additional 410 shares during the period. EverSource Wealth Advisors LLC boosted its position 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 purchasing an additional 738 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of RingCentral by 70.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock valued at $30,000 after acquiring an additional 424 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of RingCentral in the third quarter valued at approximately $30,000. Institutional investors own 98.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Zacks Research upgraded RingCentral from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Jefferies Financial Group restated a “hold” rating and issued a $40.00 price objective on shares of RingCentral in a report on Saturday, May 9th. Morgan Stanley upped their target price on RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Mizuho upped their target price on RingCentral from $27.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Finally, Wells Fargo & Company upped their target price on RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $43.00.

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.