GuruFocus - On May 28, 2024, Sonalee Parekh, Chief Financial Officer of RingCentral Inc (NYSE:RNG), sold 8,478 shares of the company, according to the SEC Filing. Following this transaction, the insider now owns 388,919 shares of the company. The shares were sold at a price of $34.85, valuing the transaction at approximately $295,455.30.
RingCentral Inc (NYSE:RNG) is a leading provider of global enterprise cloud communications, collaboration, and contact center solutions. More flexible and cost-effective than legacy on-premise PBX and video conferencing systems that it replaces, RingCentral empowers modern mobile and distributed workforces to communicate, collaborate, and connect via any mode, any device, and any location.
Over the past year, Sonalee Parekh has sold a total of 82,747 shares of RingCentral Inc and has not made any purchases of the stock. The insider transaction history for RingCentral Inc shows a pattern of 24 insider sells and no insider buys over the past year.
As of the latest sale, RingCentral Inc was trading at $34.85, giving the company a market cap of $3.182 billion. The stock is currently considered Modestly Undervalued with a price-to-GF Value ratio of 0.74, based on a GF Value of $47.13.
The GF Value is calculated considering historical multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on the companys past returns and growth, and future business performance estimates from Morningstar analysts.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
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