RingCentral, Inc. (NYSE:RNG) CAO John H. Marlow Sells 7,320 Shares

RingCentral, Inc. (NYSE:RNGGet Rating) CAO John H. Marlow sold 7,320 shares of the firm’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $65.34, for a total transaction of $478,288.80. Following the sale, the chief accounting officer now directly owns 210,774 shares of the company’s stock, valued at approximately $13,771,973.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

RNG traded down $0.26 during trading hours on Wednesday, hitting $62.88. The stock had a trading volume of 1,060,884 shares, compared to its average volume of 1,435,668. The company’s fifty day simple moving average is $89.46 and its 200 day simple moving average is $142.52. RingCentral, Inc. has a 1 year low of $56.95 and a 1 year high of $315.00. The stock has a market cap of $5.80 billion, a PE ratio of -11.05 and a beta of 0.93. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 33.52.

RingCentral (NYSE:RNGGet Rating) last posted its earnings results on Monday, May 9th. The software maker reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. The business had revenue of $467.66 million during the quarter, compared to analyst estimates of $458.36 million. RingCentral had a negative return on equity of 183.51% and a negative net margin of 30.82%. The company’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.41) EPS. As a group, equities analysts expect that RingCentral, Inc. will post -1.66 EPS for the current year.

Hedge funds have recently bought and sold shares of the business. Oppenheimer & Co. Inc. grew its holdings in shares of RingCentral by 6.7% during the third quarter. Oppenheimer & Co. Inc. now owns 4,899 shares of the software maker’s stock worth $1,066,000 after purchasing an additional 309 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of RingCentral by 1.2% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 14,145 shares of the software maker’s stock worth $3,077,000 after purchasing an additional 173 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of RingCentral by 1.1% during the third quarter. Arizona State Retirement System now owns 21,529 shares of the software maker’s stock worth $4,683,000 after purchasing an additional 228 shares in the last quarter. Schroder Investment Management Group grew its holdings in shares of RingCentral by 17.6% during the third quarter. Schroder Investment Management Group now owns 3,956 shares of the software maker’s stock worth $861,000 after purchasing an additional 591 shares in the last quarter. Finally, Logan Capital Management Inc. grew its holdings in shares of RingCentral by 154.3% during the third quarter. Logan Capital Management Inc. now owns 8,097 shares of the software maker’s stock worth $1,761,000 after purchasing an additional 4,913 shares in the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently commented on the stock. Barclays reduced their price objective 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. Jefferies Financial Group reduced their price objective on shares of RingCentral from $100.00 to $80.00 in a research report on Monday, May 23rd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of RingCentral from $210.00 to $110.00 in a research report on Tuesday, May 10th. Wells Fargo & Company reduced their price target on shares of RingCentral from $150.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, May 18th. Finally, KeyCorp reduced their price target on shares of RingCentral from $295.00 to $252.00 and set an “overweight” rating for the company in a research report on Wednesday, February 23rd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $177.68.

About RingCentral (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.

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Insider Buying and Selling by Quarter for RingCentral (NYSE:RNG)

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