Insider Selling: RingCentral (NYSE:RNG) CAO Sells 3,615 Shares of Stock

Key Points

• RingCentral CAO Tarun Arora sold 3,615 shares on May 29 at an average price of $43.00, totaling $155,445. The sale was part of a pre-arranged Rule 10b5-1 plan and was made to cover tax withholding tied to equity award vesting.
• Arora has been active in selling shares recently, including transactions on May 26, April 21, and March 10. After the latest sale, he still held 68,100 shares valued at about $2.93 million.
• RingCentral reported solid quarterly results, with EPS of $1.20 beating estimates and revenue rising 5.3% year over year to $644.2 million. The company also announced a quarterly dividend of $0.075 per share, while analysts currently rate the stock a consensus Hold with a $43 target price.

RingCentral, Inc. (NYSE:RNG - Get Free Report) CAO Tarun Arora sold 3,615 shares of the business's stock in a transaction on Friday, May 29th. The shares were sold at an average price of $43.00, for a total transaction of $155,445.00. Following the completion of the transaction, the chief accounting officer owned 68,100 shares of the company's stock, valued at approximately $2,928,300. This represents a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tarun Arora also recently made the following trade(s):

• On Tuesday, May 26th, Tarun Arora sold 919 shares of RingCentral stock. The shares were sold at an average price of $42.66, for a total transaction of $39,204.54.
• On Tuesday, April 21st, Tarun Arora sold 953 shares of RingCentral stock. The stock was sold at an average price of $43.00, for a total transaction of $40,979.00.
• On Tuesday, March 10th, Tarun Arora sold 8,840 shares of RingCentral stock. The stock was sold at an average price of $40.69, for a total transaction of $359,699.60.

RingCentral Stock Down 5.6%

Shares of NYSE:RNG traded down $2.75 during trading on Tuesday, reaching $46.35. 2,171,264 shares of the company's stock traded hands, compared to its average volume of 2,221,948. RingCentral, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $49.85. The firm has a market cap of $3.89 billion, a PE ratio of 49.31, a P/E/G ratio of 1.27 and a beta of 1.14. The company has a 50-day simple moving average of $40.29 and a 200-day simple moving average of $33.85.

RingCentral (NYSE:RNG - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.17 by $0.03. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.The company had revenue of $644.20 million for the quarter, compared to the consensus estimate of $642.73 million. During the same quarter in the prior year, the business posted $1.00 earnings per share. RingCentral's revenue for the quarter was up 5.3% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. On average, equities research analysts forecast that RingCentral, Inc. will post 2.79 EPS for the current year.

RingCentral Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, June 2nd. RingCentral's dividend payout ratio is presently 31.91%.

Analyst Ratings Changes

Several research analysts have recently weighed in on RNG shares. Rosenblatt Securities upped their target price on RingCentral from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. Morgan Stanley upped their target price on RingCentral from $33.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Monday, May 11th. Weiss Ratings raised RingCentral from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, March 2nd. Wells Fargo & Company upped their target price on RingCentral from $32.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Friday, May 8th. Finally, Piper Sandler upped their target price on RingCentral from $28.00 to $37.00 and gave the stock a "neutral" rating in a research note on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $43.00.

Institutional Investors Weigh In On RingCentral

A number of hedge funds have recently modified their holdings of the business. WealthCollab LLC grew its stake in RingCentral by 59.7% during the 1st quarter. WealthCollab LLC now owns 693 shares of the software maker's stock valued at $26,000 after acquiring an additional 259 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in RingCentral by 3.1% in the 1st quarter. Pictet Asset Management Holding SA now owns 11,883 shares of the software maker's stock valued at $442,000 after acquiring an additional 362 shares during the last quarter. Rothschild Investment LLC lifted its stake in RingCentral by 15.8% in the 4th quarter. Rothschild Investment LLC now owns 2,681 shares of the software maker's stock worth $77,000 after purchasing an additional 366 shares in the last quarter. Sovereign Financial Group Inc. boosted its holdings in shares of RingCentral by 4.2% during the 1st quarter. Sovereign Financial Group Inc. now owns 10,170 shares of the software maker's stock worth $378,000 after purchasing an additional 409 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in shares of RingCentral by 127.3% during the 1st quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker's stock worth $27,000 after purchasing an additional 410 shares during the last quarter. 98.61% of the stock is currently owned by institutional investors and hedge funds.

RingCentral Company Profile

RingCentral, Inc is a leading provider of cloud-based business communications and collaboration solutions. The company’s flagship platform delivers unified communications as a service (UCaaS), integrating voice over IP (VoIP) phone systems, video conferencing, team messaging and SMS into a single, cloud-native application. In addition to its UCaaS offering, RingCentral provides contact center as a service (CCaaS) capabilities, enabling organizations to manage customer interactions across voice, email, chat and social channels from a centralized dashboard.

Founded in 1999 and headquartered in Belmont, California, RingCentral went public on the New York Stock Exchange under the ticker RNG in 2013.

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