RingCentral, Inc. (NYSE:RNG) CEO Vladimir Shmunis Acquires 20,000 Shares

RingCentral, Inc. (NYSE:RNG – Get Rating) CEO Vladimir Shmunis bought 20,000 shares of RingCentral stock in a transaction dated Tuesday, May 24th. The stock was purchased at an average price of $59.52 per share, with a total value of $1,190,400.00. Following the purchase, the chief executive officer now owns 289,379 shares in the company, valued at $17,223,838.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

NYSE RNG traded up $1.39 on Thursday, reaching $61.95. 1,277,520 shares of the company’s stock traded hands, compared to its average volume of 1,420,455. RingCentral, Inc. has a 12 month low of $56.95 and a 12 month high of $315.00. The company has a debt-to-equity ratio of 33.52, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a 50-day simple moving average of $95.40 and a 200 day simple moving average of $149.27. The stock has a market cap of $5.71 billion, a PE ratio of -10.89 and a beta of 0.93.

RingCentral (NYSE:RNG – Get Rating) last issued its quarterly earnings results on Monday, May 9th. The software maker reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. RingCentral had a negative net margin of 30.82% and a negative return on equity of 183.51%. The business had revenue of $467.66 million for the quarter, compared to analysts’ expectations of $458.36 million. During the same period last year, the business earned ($0.41) earnings per share. The business’s quarterly revenue was up 32.7% on a year-over-year basis. As a group, analysts anticipate that RingCentral, Inc. will post -1.66 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of RNG. Cornerstone Wealth Advisors Inc. bought a new position in shares of RingCentral in the first quarter worth approximately $26,000. Spire Wealth Management grew its holdings in shares of RingCentral by 843.8% in the fourth quarter. Spire Wealth Management now owns 151 shares of the software maker’s stock worth $28,000 after purchasing an additional 135 shares during the last quarter. Jackson Wealth Management LLC grew its holdings in shares of RingCentral by 117.9% in the third quarter. Jackson Wealth Management LLC now owns 21,427 shares of the software maker’s stock worth $30,000 after purchasing an additional 11,593 shares during the last quarter. FourThought Financial LLC grew its holdings in shares of RingCentral by 60.6% in the third quarter. FourThought Financial LLC now owns 159 shares of the software maker’s stock worth $34,000 after purchasing an additional 60 shares during the last quarter. Finally, Neo Ivy Capital Management grew its holdings in shares of RingCentral by 185.1% in the fourth quarter. Neo Ivy Capital Management now owns 191 shares of the software maker’s stock worth $36,000 after purchasing an additional 124 shares during the last quarter. Institutional investors and hedge funds own 85.96% of the company’s stock.

Several analysts have recently issued reports on the stock. StockNews.com upgraded shares of RingCentral from a “sell” rating to a “hold” rating in a research note on Wednesday, May 11th. Barclays reduced their price target on shares of RingCentral from $300.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, April 26th. Oppenheimer upgraded shares of RingCentral from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a research report on Tuesday, May 10th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of RingCentral from $210.00 to $110.00 in a research report on Tuesday, May 10th. Finally, Morgan Stanley reduced their price target on shares of RingCentral from $220.00 to $165.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 22nd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $177.68.

RingCentral Company Profile (Get Rating)

RingCentral, Inc provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect in North America. The company offers business cloud communications and contact center solutions based on its Message Video Phone? platform. Its products include RingCentral Office that provides communication and collaboration across various modes, including high-definition voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax; RingCentral Contact Center, a collaborative contact center solution that delivers omni-channel; and RingCentral Engage Digital, a digital customer engagement platform that allows enterprises to interact with their customers.

Further Reading

• Get a free copy of the StockNews.com research report on RingCentral (RNG)
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