RingCentral Inc (NYSE:RNG) CEO Vladimir Shmunis sold 13,009 shares of the business’s stock in a transaction dated Tuesday, January 8th. The shares were sold at an average price of $87.57, for a total value of $1,139,198.13. Following the completion of the sale, the chief executive officer now owns 276,760 shares in the company, valued at $24,235,873.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

  • On Thursday, January 10th, Vladimir Shmunis sold 39,032 shares of RingCentral stock. The shares were sold at an average price of $87.57, for a total value of $3,418,032.24.
  • On Tuesday, December 11th, Vladimir Shmunis sold 25,509 shares of RingCentral stock. The shares were sold at an average price of $85.28, for a total value of $2,175,407.52.
  • On Thursday, December 13th, Vladimir Shmunis sold 51,532 shares of RingCentral stock. The shares were sold at an average price of $85.67, for a total value of $4,414,746.44.
  • On Friday, November 23rd, Vladimir Shmunis sold 8,845 shares of RingCentral stock. The shares were sold at an average price of $71.84, for a total value of $635,424.80.
  • On Tuesday, November 20th, Vladimir Shmunis sold 46,048 shares of RingCentral stock. The shares were sold at an average price of $68.76, for a total value of $3,166,260.48.

RNG stock opened at $86.91 on Friday. The company has a quick ratio of 4.07, a current ratio of 4.07 and a debt-to-equity ratio of 1.22. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of -248.31 and a beta of 0.97. RingCentral Inc has a twelve month low of $47.65 and a twelve month high of $98.15.

RingCentral (NYSE:RNG) last posted its earnings results on Monday, November 5th. The software maker reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.03. The business had revenue of $173.83 million during the quarter, compared to analyst estimates of $166.70 million. RingCentral had a negative return on equity of 3.64% and a negative net margin of 4.25%. The company’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 EPS. Sell-side analysts expect that RingCentral Inc will post -0.09 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of RNG. Capital International Investors purchased a new position in RingCentral during the 3rd quarter valued at about $279,076,000. Millennium Management LLC grew its holdings in shares of RingCentral by 129.5% during the second quarter. Millennium Management LLC now owns 1,105,389 shares of the software maker’s stock worth $77,764,000 after purchasing an additional 623,790 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of RingCentral by 781.7% during the third quarter. First Trust Advisors LP now owns 658,381 shares of the software maker’s stock worth $61,262,000 after purchasing an additional 583,706 shares in the last quarter. Nomura Holdings Inc. grew its holdings in shares of RingCentral by 604.0% during the second quarter. Nomura Holdings Inc. now owns 376,132 shares of the software maker’s stock worth $26,461,000 after purchasing an additional 322,707 shares in the last quarter. Finally, Capital World Investors grew its holdings in shares of RingCentral by 4.5% during the third quarter. Capital World Investors now owns 6,752,958 shares of the software maker’s stock worth $628,363,000 after purchasing an additional 289,958 shares in the last quarter. 78.01% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently issued reports on RNG shares. Zacks Investment Research upgraded RingCentral from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Friday, November 9th. Bank of America lowered their price objective on RingCentral from $100.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, November 6th. Deutsche Bank started coverage on RingCentral in a research note on Monday, October 8th. They issued a “buy” rating and a $105.00 price objective on the stock. Rosenblatt Securities restated a “buy” rating and issued a $100.00 price objective on shares of RingCentral in a research note on Wednesday, November 7th. Finally, TheStreet cut RingCentral from a “c” rating to a “d+” rating in a research note on Tuesday, November 6th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $92.27.

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RingCentral Company Profile

RingCentral, Inc provides software-as-a-service solutions for business communications and collaboration primarily in the United States. The company's products include RingCentral Office, a multi-tenant, multi-location, and enterprise-grade communications and collaboration solution that enables employees to communicate through voice, text, team messaging and collaboration, and HD video and Web conferencing through smartphones, tablets, PCs, and desk phones for businesses, which require a communications solution; RingCentral Professional, an inbound call routing subscription with additional text and fax capabilities primarily for smaller businesses; and RingCentral Fax solution that offers Internet fax capabilities, which allow businesses to send and receive fax documents without the need for a fax machine.

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