John H. Marlow Sells 16,001 Shares of RingCentral Inc (NYSE:RNG) Stock
RingCentral Inc (NYSE:RNG) CAO John H. Marlow sold 16,001 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $124.55, for a total transaction of $1,992,924.55. Following the transaction, the chief accounting officer now directly owns 167,309 shares of the company’s stock, valued at approximately $20,838,335.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of NYSE:RNG traded up $0.06 during trading on Wednesday, hitting $124.12. The company’s stock had a trading volume of 965,271 shares, compared to its average volume of 791,712. RingCentral Inc has a fifty-two week low of $64.41 and a fifty-two week high of $146.38. The business has a 50 day moving average price of $137.10 and a two-hundred day moving average price of $119.61. The company has a debt-to-equity ratio of 1.13, a quick ratio of 2.99 and a current ratio of 2.99. The company has a market capitalization of $10.92 billion, a PE ratio of -3,103.00 and a beta of 0.87.
RingCentral (NYSE:RNG) last released its earnings results on Monday, July 29th. The software maker reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.13. RingCentral had a negative return on equity of 1.13% and a negative net margin of 3.95%. The firm had revenue of $215.20 million during the quarter, compared to analyst estimates of $204.70 million. During the same period last year, the business posted $0.19 earnings per share. RingCentral’s revenue was up 33.8% compared to the same quarter last year. As a group, equities analysts expect that RingCentral Inc will post -0.13 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. Parametrica Management Ltd purchased a new stake in shares of RingCentral in the 1st quarter worth about $232,000. Raymond James & Associates lifted its position in shares of RingCentral by 16.0% during the 1st quarter. Raymond James & Associates now owns 351,776 shares of the software maker’s stock worth $37,921,000 after buying an additional 48,418 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of RingCentral by 4.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 431,461 shares of the software maker’s stock worth $49,584,000 after buying an additional 19,191 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of RingCentral in the second quarter valued at approximately $261,000. Finally, Empowered Funds LLC purchased a new stake in shares of RingCentral during the first quarter valued at approximately $1,491,000. 83.44% of the stock is owned by institutional investors and hedge funds.
RingCentral Company Profile
RingCentral, Inc provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect primarily in North America. The company's products include RingCentral Office, provides communication and collaboration across various modes, including high-definition voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax through smartphones, tablets, PCs, and desk phones; RingCentral Professional, a cloud based virtual telephone service for professionals, as well as provides inbound call answering and management services, and includes inbound local, long-distance, and toll-free minutes; and RingCentral Fax that provides online fax capabilities that allow businesses to send and receive fax documents without a fax machine.
Receive News & Ratings for RingCentral Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RingCentral and related companies with MarketBeat.com's FREE daily email newsletter.