RingCentral, Inc. (NYSE:RNG – Get Free Report) CFO Vaibhav Agarwal sold 11,406 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $36.01, for a total value of $410,730.06. Following the transaction, the chief financial officer now owns 158,784 shares in the company, valued at approximately $5,717,811.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Vaibhav Agarwal also recently made the following trade(s):
- On Monday, April 1st, Vaibhav Agarwal sold 1,984 shares of RingCentral stock. The shares were sold at an average price of $34.55, for a total value of $68,547.20.
- On Friday, March 15th, Vaibhav Agarwal sold 14,113 shares of RingCentral stock. The shares were sold at an average price of $34.84, for a total value of $491,696.92.
- On Wednesday, February 21st, Vaibhav Agarwal sold 6,224 shares of RingCentral stock. The shares were sold at an average price of $31.55, for a total value of $196,367.20.
RingCentral Stock Down 2.5 %
Shares of RNG stock opened at $34.53 on Friday. RingCentral, Inc. has a one year low of $25.08 and a one year high of $43.28. The stock has a fifty day moving average price of $33.25 and a 200 day moving average price of $32.65.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the company. KeyCorp lowered their price target on RingCentral from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. Rosenblatt Securities restated a “neutral” rating and issued a $35.00 price objective on shares of RingCentral in a research note on Wednesday, May 1st. Wedbush restated a “neutral” rating and issued a $40.00 price objective on shares of RingCentral in a research note on Thursday, May 9th. Needham & Company LLC restated a “buy” rating and issued a $42.00 price objective on shares of RingCentral in a research note on Monday. Finally, Robert W. Baird raised their price objective on shares of RingCentral from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, RingCentral presently has a consensus rating of “Moderate Buy” and an average target price of $39.28.
Get Our Latest Research Report on RingCentral
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Comerica Bank lifted its holdings in shares of RingCentral by 1,715.5% during the first quarter. Comerica Bank now owns 13,090 shares of the software maker’s stock valued at $455,000 after acquiring an additional 12,369 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of RingCentral by 163.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 310,991 shares of the software maker’s stock valued at $10,804,000 after acquiring an additional 192,766 shares during the period. BOKF NA lifted its holdings in shares of RingCentral by 144.3% during the first quarter. BOKF NA now owns 76,694 shares of the software maker’s stock valued at $2,588,000 after acquiring an additional 45,299 shares during the period. Capital World Investors lifted its holdings in shares of RingCentral by 7.3% during the first quarter. Capital World Investors now owns 12,139,394 shares of the software maker’s stock valued at $421,723,000 after acquiring an additional 825,156 shares during the period. Finally, Natixis bought a new position in shares of RingCentral during the first quarter valued at $837,000. 98.61% of the stock is owned by institutional investors.
About RingCentral
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.
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