RingCentral (NYSE:RNG) COO Sells $780,189.40 in Stock

RingCentral, Inc. (NYSE:RNG) COO Kira Makagon sold 22,196 shares of RingCentral stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $35.15, for a total value of $780,189.40. Following the sale, the chief operating officer directly owned 339,545 shares in the company, valued at approximately $11,935,006.75. The trade was a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Friday, February 20th, Kira Makagon sold 46,960 shares of RingCentral stock. The stock was sold at an average price of $35.49, for a total value of $1,666,610.40.
• On Friday, December 26th, Kira Makagon sold 6,495 shares of RingCentral stock. The shares were sold at an average price of $29.22, for a total value of $189,783.90.

RingCentral Stock Down 2.4%

Shares of RNG stock opened at $36.26 on Monday. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 75.54, a PEG ratio of 1.44 and a beta of 1.14. The business’s fifty day moving average is $28.98 and its 200 day moving average is $29.14. RingCentral, Inc. has a twelve month low of $20.58 and a twelve month high of $40.64.

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

RingCentral Dividend Announcement

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

Institutional Investors Weigh In On RingCentral

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in RingCentral by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 11,823,636 shares of the software maker’s stock worth $335,082,000 after buying an additional 129,444 shares during the last quarter. Capital World Investors grew its stake in shares of RingCentral by 20.9% in the third quarter. Capital World Investors now owns 11,735,991 shares of the software maker’s stock worth $332,598,000 after acquiring an additional 2,031,861 shares during the period. LSV Asset Management raised its holdings in shares of RingCentral by 142.4% during the fourth quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock valued at $82,935,000 after purchasing an additional 1,686,900 shares during the last quarter. AQR Capital Management LLC lifted its position in RingCentral by 35.4% during the fourth quarter. AQR Capital Management LLC now owns 2,003,950 shares of the software maker’s stock valued at $57,874,000 after purchasing an additional 523,966 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new stake in RingCentral in the third quarter worth approximately $53,365,000. 98.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on RNG. Rosenblatt Securities upped their price target on RingCentral from $32.00 to $37.50 and gave the stock a “buy” rating in a research note on Friday, February 20th. Piper Sandler increased their target price on RingCentral from $28.00 to $37.00 and gave the stock a “neutral” rating in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of RingCentral in a research report on Monday, December 29th. Needham & Company LLC reissued a “buy” rating and set a $36.00 price objective on shares of RingCentral in a research report on Tuesday, November 4th. Finally, UBS Group set a $38.00 price objective on shares of RingCentral in a research note on Friday, February 20th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $34.04.

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.