Chief Financial Officer Sonalee Parekh sold 9,913 shares of RingCentral Inc (RNG, Financial) on August 23, 2024, as reported in a recent SEC Filing. Following this transaction, the insider now owns 358,622 shares of the company.
RingCentral Inc, headquartered in Belmont, California, is a leading provider of global enterprise cloud communications, collaboration, and contact center solutions. More than 350,000 organizations have chosen RingCentral for their business communications needs.
Over the past year, Sonalee Parekh has sold a total of 90,808 shares of the company and has not made any purchases. The insider transaction history for RingCentral Inc shows a trend with 20 insider sells and no insider buys over the past year.
Shares of RingCentral Inc were trading at $33.45 on the day of the transaction. The company has a market cap of approximately $3.104 billion.
According to the GF Value, the intrinsic value of the stock is estimated at $43.87, suggesting that RingCentral Inc is modestly undervalued with a price-to-GF-Value ratio of 0.76.
The GF Value is calculated based on historical multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, adjusted for the company’s past performance and expected future business outcomes.
This recent sale by the insider might be of interest to current and potential investors, providing insight into insider confidence and stock valuation perceptions at RingCentral Inc.
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.
