Vladimir Shmunis Sells 50,700 Shares of RingCentral Inc (RNG) Stock

RingCentral Inc (NYSE:RNG) CEO Vladimir Shmunis sold 50,700 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $105.11, for a total transaction of $5,329,077.00. Following the completion of the sale, the chief executive officer now owns 245,623 shares in the company, valued at approximately $25,817,433.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Monday, March 11th, Vladimir Shmunis sold 16,898 shares of RingCentral stock. The stock was sold at an average price of $104.36, for a total transaction of $1,763,475.28.
  • On Wednesday, February 20th, Vladimir Shmunis sold 98,590 shares of RingCentral stock. The stock was sold at an average price of $103.85, for a total transaction of $10,238,571.50.
  • On Friday, February 22nd, Vladimir Shmunis sold 134,269 shares of RingCentral stock. The stock was sold at an average price of $104.05, for a total transaction of $13,970,689.45.
  • On Tuesday, January 8th, Vladimir Shmunis sold 13,009 shares of RingCentral stock. The stock was sold at an average price of $87.57, for a total transaction of $1,139,198.13.
  • On Thursday, January 10th, Vladimir Shmunis sold 39,032 shares of RingCentral stock. The stock was sold at an average price of $87.57, for a total transaction of $3,418,032.24.

Shares of RNG stock traded up $0.74 on Thursday, hitting $106.53. 511,788 shares of the stock traded hands, compared to its average volume of 804,875. The company has a market capitalization of $8.60 billion, a price-to-earnings ratio of -2,663.25 and a beta of 0.95. RingCentral Inc has a 52 week low of $61.35 and a 52 week high of $109.84. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.55 and a quick ratio of 3.55.

RingCentral (NYSE:RNG) last announced its quarterly earnings data on Monday, February 11th. The software maker reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.05. The firm had revenue of $188.62 million for the quarter, compared to the consensus estimate of $180.91 million. RingCentral had a negative net margin of 3.89% and a negative return on equity of 0.69%. Equities research analysts expect that RingCentral Inc will post -0.43 earnings per share for the current fiscal year.

RNG has been the topic of several analyst reports. Zacks Investment Research cut shares of RingCentral from a “buy” rating to a “hold” rating in a research note on Saturday, February 16th. Bank of America reiterated a “buy” rating and set a $110.00 price target (up previously from $93.00) on shares of RingCentral in a research note on Thursday, February 7th. Stephens initiated coverage on shares of RingCentral in a research note on Thursday, January 3rd. They set an “equal weight” rating on the stock. Jefferies Financial Group lifted their price target on shares of RingCentral from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, February 12th. Finally, Morgan Stanley lifted their price target on shares of RingCentral from $84.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Monday, January 7th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $110.00.

Hedge funds have recently made changes to their positions in the company. Capital International Investors bought a new stake in RingCentral in the 3rd quarter valued at $279,076,000. FMR LLC increased its holdings in RingCentral by 14.2% in the 4th quarter. FMR LLC now owns 7,227,409 shares of the software maker’s stock valued at $595,828,000 after acquiring an additional 898,876 shares during the last quarter. Norges Bank bought a new stake in RingCentral in the 4th quarter valued at $53,247,000. Macquarie Group Ltd. increased its holdings in RingCentral by 289.7% in the 4th quarter. Macquarie Group Ltd. now owns 662,781 shares of the software maker’s stock valued at $54,640,000 after acquiring an additional 492,686 shares during the last quarter. Finally, Polar Capital LLP increased its holdings in RingCentral by 131.1% in the 4th quarter. Polar Capital LLP now owns 594,436 shares of the software maker’s stock valued at $49,005,000 after acquiring an additional 337,241 shares during the last quarter. Hedge funds and other institutional investors own 81.51% of the company’s stock.

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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.

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