A Director at RingCentral (RNG) is Selling Shares


Yesterday, a Director at RingCentral (RNG), McKenna Michelle, sold shares of RNG for $206.9K.

Following McKenna Michelle’s last RNG Sell transaction on December 12, 2018, the stock climbed by 18.1%.

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Based on RingCentral’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $189 million and GAAP net loss of $5.68 million. In comparison, last year the company earned revenue of $141 million and had a GAAP net loss of $6.09 million. The Company has a Price to Book ratio of 28.0800. Currently, RingCentral has an average volume of 661.8K.

One of the top 25 analysts, according to TipRanks.com, recently recommended Buy RNG with a $101 price target. Based on 12 analyst ratings, the analyst consensus is Strong Buy with an average price target of $112.18, reflecting a 7.2% upside.

The insider sentiment on RingCentral has been negative according to 101 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

McKenna Michelle’s trades have generated a -86.8% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.

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RingCentral, Inc. engages in the provision of global enterprise cloud communications and collaboration solutions. Its solutions provide a single user identity across multiple locations and devices, including smartphones, tablets, PCs and desk phones; and allow for communication across multiple modes, including high-definition voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax. It sells its products under the RingCentral Professional, RingCentral Glip, and RingCentral Fax brands. The company was founded by Vlad Vendrow and Vladimir Shmunis in 1999 and is headquartered in Belmont, CA.

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