Insider Activity: Vladimir Shmunis Sold 16,471 Shares of RingCentral Inc (NYSE:RNG)

November 23, 2016 - By whatsonthorold

Insider Activity: Vladimir Shmunis Sold 16,471 Shares of RingCentral Inc (NYSE:RNG)

Vladimir Shmunis Insider Sell

The well informed man Vladimir Shmunis who is CEO & Chairman of Ringcentral Inc sold 16,471 shares of the public company worth $377,515 US Dollars which is based on a stock price of $22.9 per each share. He also sold 20,000 shares that are worth about $408,400 USD in the last month. Right now, Vladimir Shmunis has in hand a total of 206,051 shares or 10%+ of the company’s total market cap (Market Capitalization is a measurement of business value based on share price and number of shares outstanding).

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. The company was maintained on Friday, July 31 by Oppenheimer. As per Wednesday, December 9, the company rating was maintained by RBC Capital Markets. The firm has “Outperform” rating given on Wednesday, December 16 by Oppenheimer. The rating was initiated by RBC Capital Markets on Tuesday, October 6 with “Outperform”. The stock of RingCentral Inc (NYSE:RNG) has “Equal-Weight” rating given on Thursday, December 17 by Morgan Stanley. Canaccord Genuity initiated it with “Buy” rating and $23 target price in Monday, August 10 report. The stock has “Overweight” rating given by JP Morgan on Thursday, July 23. The firm earned “Buy” rating on Tuesday, June 28 by Summit Redstone Partners. The stock has “Outperform” rating given by RBC Capital Markets on Wednesday, December 2. The stock of RingCentral Inc (NYSE:RNG) has “Outperform” rating given on Tuesday, November 3 by Oppenheimer.

Insitutional Activity: The institutional sentiment decreased to 1.04 in 2016 Q2. Its down 0.47, from 1.51 in 2016Q1. The ratio is negative, 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.

Blackrock Group Limited has 0% invested in the company for 16,028 shares. Teachers Advsr holds 0.03% of its portfolio in RingCentral Inc (NYSE:RNG) for 773,098 shares. Federated Invsts Pa holds 180,000 shares or 0.01% of its portfolio. Coe Capital Mngmt Limited Com holds 0% or 262,891 shares in its portfolio. Princeton Alpha Mgmt Limited Partnership holds 0.08% of its portfolio in RingCentral Inc (NYSE:RNG) for 23,650 shares. The New York-based Quantbot L P has invested 0.02% in RingCentral Inc (NYSE:RNG). Northern Tru Corporation has 0% invested in the company for 755,580 shares. Pdt Partners Limited Liability Corp last reported 0.03% of its portfolio in the stock. Vanguard Gru Inc accumulated 0.01% or 4.51M shares. Sei accumulated 0% or 18 shares. Us Commercial Bank De has 0% invested in the company for 722 shares. Alyeska Gp Limited Partnership last reported 1.65M shares in the company. American Natl Registered Advisor last reported 14,750 shares in the company. Blackrock Inc holds 0% or 5,361 shares in its portfolio. Caisse De Depot Et Placement Du Quebec has invested 0.01% of its portfolio in RingCentral Inc (NYSE:RNG).

Insider Transactions: Since May 24, 2016, the stock had 0 insider buys, and 22 sales for $9.00 million net activity. Another trade for 10,000 shares valued at $219,200 was sold by Shah Praful. Shares for $3.44M were sold by Shmunis Vladimir on Thursday, August 18. 16,000 shares were sold by Marlow John H, worth $355,560. Another trade for 3,118 shares valued at $69,531 was made by Makagon Kira on Tuesday, August 23. On Thursday, June 9 Sipes David sold $312,220 worth of the stock or 15,025 shares.

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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