RingCentral Inc (NYSE:RNG) COO David Sipes sold 9,300 shares of RingCentral stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $48.86, for a total transaction of $454,398.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
David Sipes also recently made the following trade(s):
- On Wednesday, December 13th, David Sipes sold 9,300 shares of RingCentral stock. The stock was sold at an average price of $48.08, for a total transaction of $447,144.00.
- On Tuesday, November 28th, David Sipes sold 15,270 shares of RingCentral stock. The stock was sold at an average price of $49.06, for a total transaction of $749,146.20.
- On Monday, October 16th, David Sipes sold 1,500 shares of RingCentral stock. The shares were sold at an average price of $44.00, for a total transaction of $66,000.00.
Shares of RingCentral Inc (RNG) traded down $1.20 during trading on Friday, reaching $53.15. 221,281 shares of the company’s stock traded hands, compared to its average volume of 368,690. The company has a market cap of $4,110.00, a price-to-earnings ratio of -147.64 and a beta of 0.87. RingCentral Inc has a 12-month low of $21.90 and a 12-month high of $56.15.
RingCentral (NYSE:RNG) last announced its quarterly earnings results on Wednesday, November 8th. The software maker reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. The firm had revenue of $129.76 million for the quarter, compared to analyst estimates of $126.06 million. RingCentral had a negative net margin of 5.80% and a negative return on equity of 17.97%. The business’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 EPS. analysts expect that RingCentral Inc will post -0.33 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the business. Crow Point Partners LLC bought a new stake in RingCentral in the 4th quarter valued at $116,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in RingCentral by 108.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,331 shares of the software maker’s stock valued at $161,000 after buying an additional 1,735 shares during the period. Public Employees Retirement Association of Colorado bought a new stake in RingCentral in the 4th quarter valued at $174,000. Parametrica Management Ltd bought a new stake in RingCentral in the 4th quarter valued at $202,000. Finally, CIBC World Markets Inc. bought a new stake in RingCentral in the 4th quarter valued at $215,000. 76.29% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on RNG shares. Zacks Investment Research lowered shares of RingCentral from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. Jefferies Group reaffirmed a “buy” rating and set a $48.00 target price on shares of RingCentral in a research report on Thursday, October 19th. Bank of America boosted their target price on shares of RingCentral from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Oppenheimer boosted their target price on shares of RingCentral from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $50.00 target price (up previously from $40.00) on shares of RingCentral in a research report on Thursday, November 9th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $45.14.
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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.
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