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Deputy Chief Financial Officer Vaibhav Agarwal sells 11,406 shares of RingCentral…
On May 21, 2024, Vaibhav Agarwalthe deputy chief financial officer of RingCentral Inc (NYSE:RNG), sold 11,406 company shares. The transaction was registered with the SEC and can be viewed in detail via SEC Filing.
RingCentral Inc (NYSE:RNG) is a leading provider of global cloud business communications, collaboration and contact center solutions. More than 350,000 organizations have chosen RingCentral for their business communications needs.
The shares were sold at a price of US$36.01 each, totaling approximately US$410,782.06. This sale adjusted the insider’s holdings to a different value compared to last year’s transactions where the insider sold a total of 57,686 shares.
Insider Selling: Deputy Chief Financial Officer Vaibhav Agarwal sells 11,406 shares of RingCentral Inc (RNG)
Last year, there were no insider purchases and 22 insider sales at RingCentral Inc (NYSE:RNG). This pattern of transactions suggests a bias among insiders leaning primarily toward selling rather than buying shares.
In the latest sale, RingCentral Inc (NYSE:RNG) holds a market value of approximately US$3.35 billion. Stock valuation metrics show a price-earnings ratio, price-sales relationship, price-to-book ratioIt is price-free cash flow which are significant in assessing your current market position.
According to FG Valuethe intrinsic value of RingCentral Inc (NYSE:RNG) is estimated at $47.04 per share, which suggests the stock is modestly undervalued, with a GF P/B ratio of 0.77.
Insider Selling: Deputy Chief Financial Officer Vaibhav Agarwal sells 11,406 shares of RingCentral Inc (RNG)
GF Value is a proprietary measure that reflects historical trading multiples, an adjustment factor based on the company’s past performance and expected future business results as predicted by analysts.
This recent insider activity and current valuation metrics provide essential data for investors monitoring RingCentral Inc (NYSE:RNG) and considering its potential in their investment portfolios.
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This article first appeared in GuruFocus.