Ringcentral (NYSE:RNG) CEO Vladimir Shmunis Sells 46,844 Shares of Stock

Ringcentral, Inc. (NYSE:RNG) CEO Vladimir Shmunis sold 46,844 shares of Ringcentral stock in a transaction on Friday, November 21st. The shares were sold at an average price of $26.89, for a total value of $1,259,635.16. Following the completion of the transaction, the chief executive officer owned 317,139 shares of the company’s stock, valued at approximately $8,527,867.71. The trade was a 12.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, November 24th, Vladimir Shmunis sold 27,018 shares of Ringcentral stock. The stock was sold at an average price of $27.68, for a total value of $747,858.24.

Ringcentral Stock Up 0.9%

Ringcentral stock opened at $27.53 on Tuesday. The stock has a 50-day simple moving average of $28.49 and a 200 day simple moving average of $28.24. Ringcentral, Inc. has a 12-month low of $20.58 and a 12-month high of $42.19. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of -196.64, a P/E/G ratio of 1.33 and a beta of 1.33.

Ringcentral (NYSE:RNG) last issued its quarterly earnings data on Monday, November 3rd. The software maker reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. Ringcentral had a negative net margin of 0.50% and a negative return on equity of 19.63%. The firm had revenue of $638.66 million for the quarter, compared to analyst estimates of $635.39 million. During the same quarter in the prior year, the firm earned $0.95 EPS. The company’s revenue was up 4.9% on a year-over-year basis. Ringcentral has set its FY 2025 guidance at 4.290-4.330 EPS. Q4 2025 guidance at 1.120-1.150 EPS. As a group, sell-side analysts anticipate that Ringcentral, Inc. will post 1.29 EPS for the current year.

Institutional Trading of Ringcentral

A number of institutional investors and hedge funds have recently modified their holdings of RNG. Centaurus Financial Inc. boosted its stake in Ringcentral by 33.2% during the 3rd quarter. Centaurus Financial Inc. now owns 9,896 shares of the software maker’s stock worth $280,000 after acquiring an additional 2,464 shares during the last quarter. Danske Bank A S acquired a new stake in Ringcentral in the third quarter worth $686,000. Dark Forest Capital Management LP boosted its position in shares of Ringcentral by 179.0% during the third quarter. Dark Forest Capital Management LP now owns 69,222 shares of the software maker’s stock worth $1,962,000 after purchasing an additional 44,410 shares in the last quarter. PharVision Advisers LLC acquired a new position in shares of Ringcentral in the 3rd quarter valued at $389,000. Finally, XTX Topco Ltd increased its position in shares of Ringcentral by 250.9% in the 3rd quarter. XTX Topco Ltd now owns 95,513 shares of the software maker’s stock valued at $2,707,000 after buying an additional 68,295 shares in the last quarter. 98.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $32.00 price objective on shares of Ringcentral in a report on Tuesday, November 4th. UBS Group cut their price target on Ringcentral from $33.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Morgan Stanley raised their price target on Ringcentral from $29.00 to $31.00 and gave the company an “equal weight” rating in a report on Tuesday, November 4th. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 price objective on shares of Ringcentral in a research report on Tuesday, November 4th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Ringcentral in a research report on Wednesday, November 19th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $31.54.

Ringcentral Company Profile

RingCentral, Inc, together with its subsidiaries, provides cloud communications, video meetings, collaboration, and contact center software-as-a-service solutions worldwide. The company’s products include RingCentral Message Video Phone that provides a unified experience for communication and collaboration across multiple modes, including HD voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax; RingCentral Contact Center, a collaborative contact center solution that delivers AI-powered omnichannel and workforce engagement solutions with integrated RingCentral MVP; and RingCX, an AI-powered contact center that a native delivers omnichannel experience.