RingCentral, Inc. (NYSE:RNG) CEO Vladimir Shmunis Sells 66,112 Shares

RingCentral, Inc. (NYSE:RNG) CEO Vladimir Shmunis sold 66,112 shares of RingCentral stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $28.83, for a total transaction of $1,906,008.96. Following the completion of the transaction, the chief executive officer now directly owns 568,300 shares of the company’s stock, valued at $16,384,089. This trade represents a 10.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Monday, February 24th, Vladimir Shmunis sold 123,560 shares of RingCentral stock. The stock was sold at an average price of $28.56, for a total transaction of $3,528,873.60.

RingCentral Trading Down 0.1 %

RNG stock opened at $28.93 on Tuesday. The firm’s 50-day moving average is $34.60 and its two-hundred day moving average is $34.23. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of -45.21, a price-to-earnings-growth ratio of 1.27 and a beta of 1.01. RingCentral, Inc. has a 52 week low of $26.98 and a 52 week high of $42.19.

RingCentral (NYSE:RNG) last released its earnings results on Thursday, February 20th. The software maker reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.73). RingCentral had a negative return on equity of 12.34% and a negative net margin of 2.43%. The firm had revenue of $614.51 million during the quarter, compared to analyst estimates of $612.37 million. On average, equities research analysts predict that RingCentral, Inc. will post 1.29 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Creative Planning acquired a new stake in RingCentral in the 3rd quarter valued at about $211,000. Private Advisor Group LLC lifted its stake in RingCentral by 13.6% during the third quarter. Private Advisor Group LLC now owns 8,119 shares of the software maker’s stock valued at $257,000 after purchasing an additional 971 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in RingCentral during the third quarter worth approximately $386,000. Heritage Investors Management Corp grew its position in RingCentral by 0.9% in the third quarter. Heritage Investors Management Corp now owns 159,462 shares of the software maker’s stock worth $5,044,000 after buying an additional 1,484 shares during the last quarter. Finally, Olympiad Research LP bought a new position in shares of RingCentral in the third quarter valued at $483,000. Institutional investors own 98.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on RNG shares. Mizuho lowered their target price on RingCentral from $42.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Wedbush upped their price objective on RingCentral from $36.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. StockNews.com upgraded RingCentral from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 20th. Needham & Company LLC reduced their price target on shares of RingCentral from $42.00 to $36.00 and set a “buy” rating for the company in a report on Friday. Finally, Robert W. Baird increased their price objective on shares of RingCentral from $36.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $38.15.

RingCentral Company Profile

RingCentral, Inc, together with its subsidiaries, provides cloud communications, video meetings, collaboration, and contact center software-as-a-service solutions worldwide. The company’s products include RingCentral Message Video Phone that provides a unified experience for communication and collaboration across multiple modes, including HD voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax; RingCentral Contact Center, a collaborative contact center solution that delivers AI-powered omnichannel and workforce engagement solutions with integrated RingCentral MVP; and RingCX, an AI-powered contact center that a native delivers omnichannel experience.