RingCentral, Inc. (NYSE:RNG) CEO Vladimir Shmunis Sells 21,222 Shares

RingCentral, Inc. (NYSE:RNG) CEO Vladimir Shmunis sold 21,222 shares of the stock in a transaction dated Monday, November 22nd. The stock was sold at an average price of $218.80, for a total value of $4,643,373.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Thursday, October 21st, Vladimir Shmunis sold 10,000 shares of RingCentral stock. The stock was sold at an average price of $249.05, for a total value of $2,490,500.00.
  • On Tuesday, October 19th, Vladimir Shmunis sold 10,000 shares of RingCentral stock. The shares were sold at an average price of $242.84, for a total value of $2,428,400.00.
  • On Tuesday, September 14th, Vladimir Shmunis sold 29,652 shares of RingCentral stock. The shares were sold at an average price of $218.58, for a total value of $6,481,334.16.

NYSE:RNG opened at $222.40 on Thursday. The company has a market cap of $20.50 billion, a P/E ratio of -78.31 and a beta of 0.70. The stock’s fifty day moving average price is $235.03 and its two-hundred day moving average price is $253.12. RingCentral, Inc. has a 1 year low of $205.58 and a 1 year high of $449.00. The company has a debt-to-equity ratio of 30.54, a current ratio of 1.46 and a quick ratio of 1.45.

RingCentral (NYSE:RNG) last posted its earnings results on Tuesday, November 9th. The software maker reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.95. RingCentral had a negative return on equity of 111.17% and a negative net margin of 17.54%. During the same quarter in the prior year, the company earned ($0.24) EPS. On average, analysts expect that RingCentral, Inc. will post -1.91 earnings per share for the current fiscal year.

RNG has been the subject of several research analyst reports. Colliers Securities reissued a “buy” rating and issued a $349.00 price objective on shares of RingCentral in a research report on Wednesday, November 10th. Deutsche Bank Aktiengesellschaft decreased their target price on RingCentral from $450.00 to $400.00 and set a “buy” rating for the company in a research report on Wednesday, August 4th. Jefferies Financial Group decreased their price objective on RingCentral from $450.00 to $360.00 and set a “buy” rating for the company in a report on Thursday, October 21st. They noted that the move was a valuation call. UBS Group boosted their price objective on RingCentral from $275.00 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday, August 4th. Finally, KeyCorp boosted their price objective on RingCentral from $390.00 to $404.00 and gave the stock an “overweight” rating in a report on Wednesday, November 10th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, RingCentral currently has a consensus rating of “Buy” and a consensus target price of $401.90.

Several institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC increased its holdings in shares of RingCentral by 25.9% in the third quarter. Global Retirement Partners LLC now owns 199 shares of the software maker’s stock worth $43,000 after purchasing an additional 41 shares during the period. Oak Ridge Investments LLC increased its holdings in shares of RingCentral by 1.3% in the second quarter. Oak Ridge Investments LLC now owns 3,773 shares of the software maker’s stock worth $1,096,000 after purchasing an additional 47 shares during the period. Paradigm Financial Advisors LLC increased its holdings in shares of RingCentral by 4.8% in the third quarter. Paradigm Financial Advisors LLC now owns 1,040 shares of the software maker’s stock worth $226,000 after purchasing an additional 48 shares during the period. Prudent Man Advisors LLC increased its holdings in shares of RingCentral by 5.1% in the second quarter. Prudent Man Advisors LLC now owns 1,054 shares of the software maker’s stock worth $306,000 after purchasing an additional 51 shares during the period. Finally, Toronto Dominion Bank increased its holdings in shares of RingCentral by 0.5% in the third quarter. Toronto Dominion Bank now owns 10,841 shares of the software maker’s stock worth $2,358,000 after purchasing an additional 52 shares during the period. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

RingCentral Company Profile

RingCentral, Inc engages in the provision of global enterprise cloud communications and collaboration solutions. The firm’s solutions provide a single user identity across multiple locations and devices, including smartphones, tablets, PCs and desk phones; and allow for communication across multiple modes, including high-definition voice, video, SMS, messaging and collaboration, conferencing, online meetings and fax.

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