Insider Selling: RingCentral Inc (RNG) Insider Sells $214,750.00 in Stock

RingCentral Inc (NYSE:RNG) insider Praful Shah sold 2,500 shares of the stock in a transaction that occurred on Monday, January 7th. The shares were sold at an average price of $85.90, for a total transaction of $214,750.00. Following the completion of the transaction, the insider now owns 277,158 shares in the company, valued at $23,807,872.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Praful Shah also recently made the following trade(s):

  • On Thursday, January 3rd, Praful Shah sold 1,779 shares of RingCentral stock. The shares were sold at an average price of $79.80, for a total transaction of $141,964.20.
  • On Monday, December 3rd, Praful Shah sold 1,250 shares of RingCentral stock. The shares were sold at an average price of $86.40, for a total transaction of $108,000.00.
  • On Wednesday, December 19th, Praful Shah sold 4,808 shares of RingCentral stock. The shares were sold at an average price of $82.43, for a total transaction of $396,323.44.
  • On Wednesday, November 28th, Praful Shah sold 1,889 shares of RingCentral stock. The shares were sold at an average price of $75.54, for a total transaction of $142,695.06.

RNG opened at $86.91 on Friday. The company has a current ratio of 4.07, a quick ratio of 4.07 and a debt-to-equity ratio of 1.22. The firm has a market capitalization 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, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.03. The company had revenue of $173.83 million for the quarter, compared to analyst estimates of $166.70 million. RingCentral had a negative net margin of 4.25% and a negative return on equity of 3.64%. The business’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same period last year, the business posted $0.06 earnings per share. Research analysts predict that RingCentral Inc will post -0.09 earnings per share for the current year.

Large investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale raised its holdings in shares of RingCentral by 75.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,401 shares of the software maker’s stock worth $130,000 after acquiring an additional 601 shares during the period. Harvest Fund Management Co. Ltd raised its holdings in shares of RingCentral by 287.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,513 shares of the software maker’s stock worth $141,000 after acquiring an additional 1,122 shares during the period. US Bancorp DE raised its holdings in shares of RingCentral by 141.7% during the second quarter. US Bancorp DE now owns 1,745 shares of the software maker’s stock worth $123,000 after acquiring an additional 1,023 shares during the period. Cerebellum GP LLC acquired a new stake in shares of RingCentral during the fourth quarter worth $152,000. Finally, Oakbrook Investments LLC acquired a new stake in shares of RingCentral during the third quarter worth $205,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

Several equities analysts recently weighed in on the stock. Robert W. Baird upgraded shares of RingCentral from a “neutral” rating to an “outperform” rating and set a $100.00 price objective on the stock in a report on Monday, November 19th. TheStreet lowered shares of RingCentral from a “c” rating to a “d+” rating in a report on Tuesday, November 6th. Bank of America cut their price objective on shares of RingCentral from $100.00 to $93.00 and set a “buy” rating on the stock in a report on Tuesday, November 6th. Morgan Stanley increased their target price on shares of RingCentral from $84.00 to $93.00 and gave the stock an “equal weight” rating in a report on Monday, January 7th. Finally, Deutsche Bank assumed coverage on shares of RingCentral in a report on Monday, October 8th. They issued a “buy” rating and a $105.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus 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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Insider Buying and Selling by Quarter for RingCentral (NYSE:RNG)

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