RingCentral (NYSE:RNG) COO Kira Makagon Sells 16,988 Shares

Key Points

• RingCentral COO Kira Makagon sold 16,988 shares on May 27 at an average price of $42.54, bringing in about $722,670. After the sale, she still held 212,724 shares, and the trade was made under a pre-arranged Rule 10b5-1 plan.
• The company beat quarterly expectations, reporting $1.20 EPS versus the $1.17 consensus and revenue of $644.2 million, with sales up 5.3% year over year. RingCentral also issued FY2026 EPS guidance of 4.85 to 5.01 and Q2 guidance of 1.15 to 1.17.
• Wall Street sentiment remains mixed but constructive, with an average analyst rating of “Hold” and a consensus price target of $43. Morgan Stanley and Wells Fargo recently raised their targets, while the stock was last trading around $41.98.

RingCentral, Inc. (NYSE:RNG - Get Free Report) COO Kira Makagon sold 16,988 shares of the company's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $42.54, for a total value of $722,669.52. Following the completion of the sale, the chief operating officer owned 212,724 shares in the company, valued at $9,049,278.96. This represents a 7.40% decrease in their position. The transaction 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.

Kira Makagon also recently made the following trade(s):

• On Monday, April 27th, Kira Makagon sold 5,870 shares of RingCentral stock. The stock was sold at an average price of $40.27, for a total value of $236,384.90.
• On Friday, February 27th, Kira Makagon sold 22,196 shares of RingCentral stock. The stock was sold at an average price of $35.15, for a total value of $780,189.40.

RingCentral Price Performance

NYSE:RNG traded up $0.38 during trading hours on Thursday, reaching $41.98. 1,190,390 shares of the company were exchanged, compared to its average volume of 2,220,578. The company has a market capitalization of $3.52 billion, a P/E ratio of 44.65, a P/E/G ratio of 1.25 and a beta of 1.13. RingCentral, Inc. has a 1-year low of $23.59 and a 1-year high of $48.57. The business has a 50 day moving average of $39.85 and a 200 day moving average of $33.48.

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. The business had revenue of $644.20 million for the quarter, compared to the consensus estimate of $642.73 million. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.The firm's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.00 earnings per share. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. As a group, equities research analysts anticipate that RingCentral, Inc. will post 2.79 earnings per share for the current fiscal year.

RingCentral Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $0.30 dividend on an annualized basis and a yield of 0.7%. RingCentral's dividend payout ratio is currently 31.91%.

Wall Street Analysts Forecast Growth

RNG has been the topic of a number of analyst reports. Morgan Stanley increased their price target on RingCentral from $33.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Monday, May 11th. Wells Fargo & Company raised their target price on RingCentral from $32.00 to $43.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Zacks Research raised RingCentral from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 4th. UBS Group set a $38.00 target price on RingCentral in a report on Friday, February 20th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $40.00 target price on shares of RingCentral in a report on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $43.00.

Institutional Investors Weigh In On RingCentral

Several hedge funds have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of RingCentral during the 3rd quarter valued at $843,000. Invenomic Capital Management LP lifted its stake in shares of RingCentral by 3.9% during the 3rd quarter. Invenomic Capital Management LP now owns 1,482,447 shares of the software maker's stock valued at $42,013,000 after buying an additional 55,088 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its stake in shares of RingCentral by 544.8% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 91,918 shares of the software maker's stock valued at $2,605,000 after buying an additional 77,663 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of RingCentral by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 11,823,636 shares of the software maker's stock valued at $335,082,000 after buying an additional 129,444 shares in the last quarter. Finally, Clark Capital Management Group Inc. lifted its stake in RingCentral by 103.3% in the 3rd quarter. Clark Capital Management Group Inc. now owns 303,455 shares of the software maker's stock worth $8,600,000 after purchasing an additional 154,188 shares in the last quarter. Institutional investors and hedge funds own 98.61% of the company's stock.

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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