RingCentral Inc (NYSE:RNG) CEO Vladimir Shmunis sold 36,472 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $64.64, for a total value of $2,357,550.08. Following the completion of the transaction, the chief executive officer now directly owns 300,154 shares of the company’s stock, valued at approximately $19,401,954.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Vladimir Shmunis also recently made the following trade(s):
- On Thursday, February 22nd, Vladimir Shmunis sold 52,509 shares of RingCentral stock. The shares were sold at an average price of $64.06, for a total value of $3,363,726.54.
- On Tuesday, December 12th, Vladimir Shmunis sold 48,666 shares of RingCentral stock. The shares were sold at an average price of $47.12, for a total value of $2,293,141.92.
Shares of RingCentral Inc (NYSE:RNG) traded up $0.55 on Friday, hitting $62.85. The stock had a trading volume of 299,159 shares, compared to its average volume of 582,761. RingCentral Inc has a fifty-two week low of $25.15 and a fifty-two week high of $65.75. The firm has a market cap of $4,815.10, a PE ratio of -183.97 and a beta of 0.87.
RingCentral (NYSE:RNG) last released its quarterly earnings results on Monday, February 12th. The software maker reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01. RingCentral had a negative return on equity of 17.15% and a negative net margin of 5.21%. The firm had revenue of $140.50 million during the quarter, compared to analysts’ expectations of $136.34 million. During the same period last year, the firm posted $0.03 EPS. The business’s revenue was up 34.4% on a year-over-year basis. equities analysts expect that RingCentral Inc will post -0.24 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in RNG. Crow Point Partners LLC acquired a new stake in RingCentral during the 4th quarter valued at $116,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in RingCentral by 108.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,331 shares of the software maker’s stock valued at $161,000 after purchasing an additional 1,735 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in RingCentral during the 4th quarter valued at $174,000. Ameritas Investment Partners Inc. increased its holdings in RingCentral by 8.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,480 shares of the software maker’s stock valued at $200,000 after purchasing an additional 418 shares in the last quarter. Finally, Parametrica Management Ltd acquired a new stake in RingCentral during the 4th quarter valued at $202,000. 78.54% of the stock is owned by hedge funds and other institutional investors.
Several research firms have commented on RNG. Craig Hallum upped their price target on RingCentral from $50.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Morgan Stanley set a $60.00 target price on RingCentral and gave the stock a “hold” rating in a report on Tuesday, February 13th. TheStreet raised RingCentral from a “d+” rating to a “c-” rating in a report on Monday, February 12th. JPMorgan Chase & Co. cut RingCentral from an “overweight” rating to a “neutral” rating and set a $52.00 target price for the company. in a report on Tuesday, December 12th. Finally, Oppenheimer increased their target price on RingCentral from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, February 13th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $53.79.
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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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