November 30, 2016 - By Michael Collier
The SVP – Strategy of Ringcentral Inc, Praful Shah is in the stock market news today. It was exposed in a report filled by Praful Shah and submitted to the U.S. Security and Exchange Commission on 30/11/2016, he sold 2,415 shares from the corporation having an approx. value of $52,985 USD. The insider shares average price was $21.9. In the last month, he also unloaded 10,000 shares that are worth approx $203,700 USD. Praful Shah at the moment owns 0.44% of the company’s market cap with ownership of 331,071 shares.
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 21.67% above today’s ($21.55) stock price. RingCentral has been the topic of 18 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm earned “Outperform” rating on Friday, July 31 by Oppenheimer. The company was initiated on Tuesday, October 6 by RBC Capital Markets. Jefferies maintained the shares of RNG in a report on Thursday, August 4 with “Buy” rating. The firm earned “Buy” rating on Tuesday, June 28 by Summit Redstone Partners. The firm has “Outperform” rating by RBC Capital Markets given on Wednesday, December 2. Robert W. Baird initiated the stock with “Neutral” rating in Friday, August 26 report. Raymond James upgraded RingCentral Inc (NYSE:RNG) on Friday, July 31 to “Strong Buy” rating. The stock of RingCentral Inc (NYSE:RNG) earned “Equal-Weight” rating by Morgan Stanley on Thursday, December 17. The rating was initiated by JP Morgan on Thursday, July 23 with “Overweight”. On Tuesday, November 3 the stock rating was maintained by Oppenheimer with “Outperform”.
Insitutional Activity: The institutional sentiment decreased to 1.04 in 2016 Q2. Its down 0.47, from 1.51 in 2016Q1. The ratio fall, 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.
Pier Cap Lc has 1.05% invested in the company for 293,403 shares. Ubs Oconnor Ltd Liability Co last reported 0% of its portfolio in the stock. Nomura Hldg holds 89,032 shares or 0.01% of its portfolio. Federated Pa last reported 0.01% of its portfolio in the stock. Teacher Retirement Systems Of Texas holds 0% or 6,994 shares in its portfolio. Teachers Advsr reported 773,098 shares or 0.03% of all its holdings. Los Angeles Capital Equity holds 0% of its portfolio in RingCentral Inc (NYSE:RNG) for 24,553 shares. Products Ptnrs Ltd Limited Liability Company has invested 0.03% of its portfolio in RingCentral Inc (NYSE:RNG). American National Registered Investment Advisor accumulated 14,750 shares or 0.14% of the stock. Gilder Gagnon Howe Llc accumulated 1.47% or 3.75 million shares. Walleye Trading Limited Liability Com last reported 0% of its portfolio in the stock. Alphaone Ser Limited Liability has invested 0.13% of its portfolio in RingCentral Inc (NYSE:RNG). Waddell & Reed Financial accumulated 0.02% or 382,700 shares. Voya Investment Llc, a Georgia-based fund reported 23,421 shares. Wells Fargo & Company Mn reported 902,109 shares or 0.01% of all its holdings.
Insider Transactions: Since June 1, 2016, the stock had 0 insider purchases, and 23 selling transactions for $8.50 million net activity. 20,000 shares were sold by Shmunis Vladimir, worth $408,400. 2,000 shares with value of $44,890 were sold by Marlow John H on Wednesday, September 14. 10,000 shares were sold by Makagon Kira, worth $204,300. The insider Shah Praful sold $196,600. Shares for $312,220 were sold by Sipes David on Thursday, June 9.
The stock increased 2.86% or $0.6 during the last trading session, hitting $21.55. About 885,694 shares traded hands or 58.09% up from the average. RingCentral Inc (NYSE:RNG) has risen 11.26% since April 27, 2016 and is uptrending. It has outperformed by 6.03% the S&P500.
RingCentral, Inc. is a provider of software-as-a-service solutions for business communications. The company has a market cap of $1.51 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 earnings per share, 0.00% or $0.00 from last year’s $-0.09 per share. After $-0.09 actual earnings per share reported by RingCentral Inc for the previous quarter, Wall Street now forecasts 0.00% EPS growth.
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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