Vladimir Shmunis Sells 15,556 Shares of RingCentral (NYSE:RNG) Stock

Key Points

• CEO Vladimir Shmunis sold 15,556 RingCentral shares for approximately $1.12 million at an average price of $71.78, reducing his ownership by 7.56%. The sale was conducted under a Rule 10b5-1 plan to cover tax withholding on vested equity awards.
• RingCentral shares rose 5.3% to $76.40, near a 52-week high, amid bullish analyst developments. RBC Capital Markets initiated coverage with an Outperform rating, while Needham and Oppenheimer raised their price targets to $85.
• The company reported quarterly revenue of $657.01 million and adjusted EPS of $1.22, exceeding analyst expectations, and increased its quarterly dividend to $0.125 per share. Despite recent momentum, analysts’ consensus rating remains Hold, with an average price target of $56.

RingCentral, Inc. (NYSE:RNG - Get Free Report) CEO Vladimir Shmunis sold 15,556 shares of RingCentral stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $71.78, for a total transaction of $1,116,609.68. Following the completion of the sale, the chief executive officer owned 190,271 shares of the company's stock, valued at $13,657,652.38. This represents a 7.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.

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

• On Thursday, September 3rd, Vladimir Shmunis sold 11,165 shares of RingCentral stock. The shares were sold at an average price of $76.58, for a total transaction of $855,015.70.

RingCentral Stock Up 5.3%

NYSE:RNG traded up $3.82 during mid-day trading on Thursday, hitting $76.40. 1,696,921 shares of the company traded hands, compared to its average volume of 2,076,045. The stock's fifty day moving average price is $53.33 and its 200-day moving average price is $44.00. The firm has a market cap of $6.38 billion, a price-to-earnings ratio of 61.12, a price-to-earnings-growth ratio of 1.22 and a beta of 1.14. RingCentral, Inc. has a one year low of $24.14 and a one year high of $77.95.

• It's RingCentral NYSE: RNG You Want In Your 2021 Portfolio, Not Zoom NASDAQ: ZM

RingCentral (NYSE:RNG - Get Free Report) last released its earnings results on Thursday, July 23rd. The software maker reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.06. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.The firm had revenue of $657.01 million during the quarter, compared to analysts' expectations of $650.53 million. During the same quarter last year, the business posted $1.06 earnings per share. The firm's revenue was up 5.9% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. Equities analysts predict that RingCentral, Inc. will post 2.89 EPS for the current year.

RingCentral Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were given a $0.125 dividend. This is a boost from RingCentral's previous quarterly dividend of $0.07. This represents a $0.50 annualized dividend and a yield of 0.7%. The ex-dividend date was Thursday, August 6th. RingCentral's dividend payout ratio (DPR) is presently 40.00%.

Institutional Trading of RingCentral

Several institutional investors have recently added to or reduced their stakes in the company. WealthCollab LLC boosted its position in shares of RingCentral by 59.7% during the first quarter. WealthCollab LLC now owns 693 shares of the software maker's stock valued at $26,000 after buying an additional 259 shares during the period. Meeder Asset Management Inc. raised its holdings in shares of RingCentral by 127.3% in the first quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker's stock worth $27,000 after buying an additional 410 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of RingCentral by 269.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker's stock worth $29,000 after buying an additional 738 shares during the period. Rockefeller Capital Management L.P. lifted its stake in shares of RingCentral by 70.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker's stock worth $30,000 after acquiring an additional 424 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in RingCentral during the 3rd quarter valued at $30,000. Institutional investors own 98.61% of the company's stock.

RingCentral News Summary

Here are the key news stories impacting RingCentral this week:

• Positive Sentiment: RBC Capital Markets began coverage of RingCentral with an Outperform rating, providing a new bullish catalyst for the stock. RingCentral Jumps 5.7% After RBC Capital Initiates at Outperform
• Positive Sentiment: RBC said RingCentral appears less susceptible to AI displacement risks than the market currently assumes, suggesting the company’s communications software and enterprise customer relationships may remain defensible as AI adoption accelerates. RingCentral Less Susceptible to AI Displacement Risks than Market Fears, RBC Says
• Positive Sentiment: The stock reached a new 52-week high, indicating strong recent momentum and investor follow-through after the bullish analyst coverage. RingCentral Hits New 52-Week High
• Neutral Sentiment: CEO Vladimir Shmunis, CFO Vaibhav Agarwal and Chief Accounting Officer Tarun Arora reported stock sales totaling approximately $2.55 million. Each transaction was conducted under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to vested equity awards, reducing the likelihood that the sales reflect negative views of RingCentral’s outlook.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $50.00 price objective on shares of RingCentral in a research note on Friday, July 24th. Needham & Company LLC increased their price target on shares of RingCentral from $55.00 to $85.00 and gave the company a "buy" rating in a report on Friday, August 28th. Jefferies Financial Group reiterated a "hold" rating and issued a $40.00 price target on shares of RingCentral in a research report on Saturday, May 9th. Mizuho boosted their price objective on RingCentral from $38.00 to $40.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Finally, Oppenheimer upped their price objective on RingCentral from $50.00 to $85.00 and gave the company an "outperform" rating in a research report on Tuesday. Four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, RingCentral has a consensus rating of "Hold" and an average target price of $56.00.

About RingCentral

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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