Yesterday it was reported that the CSO of RingCentral (RNG), Praful Shah, exercised options to buy 27,193 RNG shares at $7.45 a share, for a total transaction value of $202.8K.
Following Praful Shah’s last RNG Buy transaction on May 18, 2016, the stock climbed by 368.3%. Following this transaction Praful Shah’s holding in the company was increased by 10.54% to a total of $115 million.
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Based on RingCentral’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $304 million and GAAP net loss of -$20,957,000. In comparison, last year the company earned revenue of $233 million and had a GAAP net loss of $12.75 million. The company has a one-year high of $405.46 and a one-year low of $134.85. The Company has a Price to Book ratio of 255.82.
Starting in October 2020, RNG received 24 Buy ratings in a row. 13 different firms, including Merrill Lynch and BTIG, currently also have a Buy rating on the stock. One of the top 25 analysts, according to TipRanks.com, recently recommended Buy RNG with a $450.00 price target.
The insider sentiment on RingCentral has been negative according to 144 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.
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RingCentral, Inc. engages in the provision of global enterprise cloud communications and collaboration solutions. The firms 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.