Vladimir Shmunis Sells 7,808 Shares of Ringcentral, Inc. (RNG) Stock

Ringcentral, Inc. (NYSE:RNG) CEO Vladimir Shmunis sold 7,808 shares of Ringcentral stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $43.65, for a total transaction of $340,819.20. Following the completion of the transaction, the chief executive officer now directly owns 355,041 shares of the company’s stock, valued at $15,497,539.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Vladimir Shmunis also recently made the following trade(s):

  • On Wednesday, October 11th, Vladimir Shmunis sold 6,000 shares of Ringcentral stock. The stock was sold at an average price of $43.31, for a total transaction of $259,860.00.
  • On Thursday, October 12th, Vladimir Shmunis sold 73,000 shares of Ringcentral stock. The stock was sold at an average price of $43.43, for a total transaction of $3,170,390.00.
  • On Tuesday, September 12th, Vladimir Shmunis sold 6,000 shares of Ringcentral stock. The stock was sold at an average price of $42.37, for a total transaction of $254,220.00.
  • On Monday, September 11th, Vladimir Shmunis sold 6,000 shares of Ringcentral stock. The stock was sold at an average price of $42.30, for a total transaction of $253,800.00.
  • On Wednesday, September 13th, Vladimir Shmunis sold 73,000 shares of Ringcentral stock. The stock was sold at an average price of $42.25, for a total transaction of $3,084,250.00.
  • On Wednesday, August 23rd, Vladimir Shmunis sold 101,452 shares of Ringcentral stock. The stock was sold at an average price of $38.20, for a total transaction of $3,875,466.40.

Ringcentral, Inc. (NYSE RNG) opened at 43.80 on Friday. The stock’s 50 day moving average is $41.91 and its 200 day moving average is $36.13. The stock’s market capitalization is $3.36 billion. Ringcentral, Inc. has a 12-month low of $19.35 and a 12-month high of $44.95.

Ringcentral (NYSE:RNG) last released its earnings results on Wednesday, August 2nd. The software maker reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $119.40 million during the quarter, compared to analysts’ expectations of $118.19 million. Ringcentral had a negative net margin of 6.77% and a negative return on equity of 19.59%. Ringcentral’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same period last year, the business earned $0.02 EPS. Equities analysts anticipate that Ringcentral, Inc. will post $0.17 EPS for the current fiscal year.

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Several brokerages have issued reports on RNG. BidaskClub cut shares of Ringcentral from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Zacks Investment Research raised shares of Ringcentral from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Wednesday, October 4th. Dougherty & Co reaffirmed a “buy” rating and issued a $40.00 target price (up from $36.00) on shares of Ringcentral in a report on Wednesday, August 9th. SunTrust Banks, Inc. began coverage on shares of Ringcentral in a report on Monday, June 26th. They issued a “buy” rating and a $47.00 target price for the company. Finally, Oppenheimer Holdings, Inc. lifted their target price on shares of Ringcentral from $33.00 to $45.00 in a report on Thursday, July 13th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Ringcentral currently has an average rating of “Buy” and an average target price of $40.15.

Hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its stake in Ringcentral by 66.1% in the 2nd quarter. Sei Investments Co. now owns 31,255 shares of the software maker’s stock worth $1,142,000 after purchasing an additional 12,442 shares in the last quarter. Vanguard Group Inc. boosted its stake in Ringcentral by 9.4% in the 1st quarter. Vanguard Group Inc. now owns 5,184,049 shares of the software maker’s stock worth $146,709,000 after purchasing an additional 446,995 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Ringcentral in the 2nd quarter worth approximately $1,173,000. Federated Investors Inc. PA boosted its stake in Ringcentral by 58.3% in the 2nd quarter. Federated Investors Inc. PA now owns 164,268 shares of the software maker’s stock worth $6,004,000 after purchasing an additional 60,468 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Ringcentral by 2.4% in the 1st quarter. Bank of New York Mellon Corp now owns 242,343 shares of the software maker’s stock worth $6,858,000 after purchasing an additional 5,627 shares in the last quarter. Institutional investors own 75.22% of the company’s stock.

Ringcentral Company Profile

RingCentral, Inc is a provider of software-as-a-service (SaaS) solutions for businesses to support modern communications. The Company’s cloud-based business communications solutions provide a single user identity across multiple locations and devices, including smartphones, tablets, personal computers (PCs) and desk phones, and allow for communication across multiple channels, including high definition (HD) voice, video, short messaging service (SMS), messaging and collaboration, conferencing, online meetings, and fax.

Insider Buying and Selling by Quarter for Ringcentral (NYSE:RNG)

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