Insider Action: RingCentral Inc (NYSE:RNG)’s SVP & General Counsel John Marlow Unloaded 2,238 Shares of the Company

November 23, 2016 - By Darrin Black

Insider Action: RingCentral Inc (NYSE:RNG)'s SVP & General Counsel John Marlow Unloaded 2,238 Shares of the Company

John Marlow Insider Sell

SVP & General Counsel, John Marlow is the Ringcentral Inc’s insider which unloaded shares of Ringcentral Inc, 2,238 to be precise. The insider shares were estimated based on $22.2, with the sale having a market value of $49,684 US Dollars. John Marlow now possess 86,273 shares of Ringcentral Inc.

RingCentral Inc (NYSE:RNG) Ratings Coverage

Out of 10 analysts covering RingCentral (NYSE:RNG), 8 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 80% are positive. $29 is the highest target while $22 is the lowest. The $26.22 average target is 16.38% above today’s ($22.53) stock price. RingCentral has been the topic of 18 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Friday, August 26, the company rating was initiated by Robert W. Baird. The stock of RingCentral Inc (NYSE:RNG) earned “Overweight” rating by JP Morgan on Thursday, July 23. The firm earned “Equal-Weight” rating on Thursday, December 17 by Morgan Stanley. The stock has “Outperform” rating given by Oppenheimer on Wednesday, December 16. Raymond James upgraded the shares of RNG in a report on Friday, July 31 to “Strong Buy” rating. The company was maintained on Wednesday, December 9 by RBC Capital Markets. The stock of RingCentral Inc (NYSE:RNG) earned “Outperform” rating by RBC Capital Markets on Wednesday, December 2. The stock has “Outperform” rating given by RBC Capital Markets on Tuesday, October 6. As per Tuesday, November 3, the company rating was maintained by Oppenheimer. The stock has “Buy” rating given by Summit Redstone Partners on Tuesday, June 28.

Insitutional Activity: The institutional sentiment decreased to 1.04 in Q2 2016. Its down 0.47, from 1.51 in 2016Q1. The ratio dived, as 19 funds sold all RingCentral Inc shares owned while 40 reduced positions. 29 funds bought stakes while 60 increased positions. They now own 46.80 million shares or 2.34% less from 47.92 million shares in 2016Q1.

Tower Research Limited (Trc) has 0.01% invested in the company for 5,877 shares. Princeton Alpha Mgmt Ltd Partnership last reported 23,650 shares in the company. Herald Invest Mgmt has 0.83% invested in the company for 100,000 shares. Shell Asset Co last reported 175,085 shares in the company. Northern Corporation has 0% invested in the company for 755,580 shares. Tiaa Cref Investment Management accumulated 0% or 310,456 shares. National Registered Investment Advisor Incorporated reported 14,750 shares or 0.14% of all its holdings. The United Kingdom-based Gsa Capital Prns Llp has invested 0.05% in RingCentral Inc (NYSE:RNG). First Trust L P holds 0% of its portfolio in RingCentral Inc (NYSE:RNG) for 21,126 shares. The New York-based Cipher Capital Limited Partnership has invested 0.06% in RingCentral Inc (NYSE:RNG). Jefferies Grp Ltd Liability Corporation last reported 6 shares in the company. State Bank Of America De holds 0% of its portfolio in RingCentral Inc (NYSE:RNG) for 445,293 shares. Jacobs Levy Equity Mngmt Inc holds 0.09% of its portfolio in RingCentral Inc (NYSE:RNG) for 214,190 shares. Int Group Inc, a New York-based fund reported 33,746 shares. Citigroup last reported 0% of its portfolio in the stock.

Insider Transactions: Since May 24, 2016, the stock had 0 insider purchases, and 22 insider sales for $9.00 million net activity. Shah Praful had sold 10,000 shares worth $196,600. 3,123 shares were sold by Makagon Kira, worth $58,088 on Tuesday, May 24. Shmunis Vladimir also sold $3.44 million worth of RingCentral Inc (NYSE:RNG) shares. Marlow John H sold $38,710 worth of stock or 2,000 shares. $50,264 worth of RingCentral Inc (NYSE:RNG) shares were sold by Sipes David.

About 331,632 shares traded hands. RingCentral Inc (NYSE:RNG) has risen 19.98% since April 21, 2016 and is uptrending. It has outperformed by 14.65% the S&P500.

RingCentral, Inc. is a provider of software-as-a-service solutions for business communications. The company has a market cap of $1.64 billion. The Company’s cloud business communications solutions provide a single user identity across multiple locations and devices, including smartphones, tablets, personal computers (PCs) and desk phones, and allow for communication across multiple channels, including voice, text, team messaging collaboration, high definition (HD) video for Web conferencing and fax. It currently has negative earnings. The Company’s products include RingCentral Office, RingCentral Professional, RingCentral Fax, RingCentral Contact Center and Glip by RingCentral.

According to Zacks Investment Research, “RingCentral, Inc. provides solutions for business communications primarily in the United States. The Company’s products include RingCentral Office, RingCentral Mobile and RingCentral Fax. It provides solutions such as auto-receptionist, flexible extension structure, multiple voicemail boxes, smart call routing, business answering rules, extension dialing, call transfers and elegant integration with Smartphones. RingCentral, Inc. is headquartered in San Mateo, California.”

Analysts await RingCentral Inc (NYSE:RNG) to report earnings on February, 2. They expect $-0.09 EPS, 0.00% or $0.00 from last year’s $-0.09 per share. After $-0.09 actual EPS reported by RingCentral Inc for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

RNG Company Profile

RingCentral, Inc., incorporated on August 29, 2013, is a well-known provider of software-as-a-service (SaaS) solutions for business communications. The Company’s cloud business communications solutions provide a single user identity across multiple locations and devices, including smartphones, tablets, personal computers (PCs) and desk phones, and allow for communication across multiple channels, including voice, text, team messaging collaboration, high definition (HD) video for Web conferencing and fax. The Company’s products include RingCentral Office, RingCentral Professional, RingCentral Fax, RingCentral Contact Center and Glip by RingCentral. RingCentral Office is a multi-user, enterprise-grade communications solution. RingCentral Professional is an inbound call routing subscription with additional text and fax capabilities targeting smaller deployments, and RingCentral Fax is an Internet fax subscription that permits sending and receiving faxes over the Internet.

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