Vladimir Shmunis, CEO and Chairman of RingCentral Inc (NYSE:RNG), completed a sale of 94,258 shares of the company on August 22, 2024. The transaction was filed according to the SEC filing on August 23, 2024. Following this transaction, the insider now owns 541,711 shares of RingCentral Inc.
RingCentral Inc., a leading provider of global enterprise cloud communications, collaboration and contact center solutions, enables businesses to communicate, collaborate and connect. This technology-driven company offers a wide range of services to improve business communications for better customer engagement and increased productivity.
Over the past year, Vladimir Shmunis has sold a total of 456,304 shares and made no purchases. RingCentral Inc’s insider transaction history shows a trend with 20 insider sales and no insider purchases during the same period.
On the day of the sale, RingCentral Inc. shares traded at $32.73, giving the company a market capitalization of approximately $3.104 billion.
According to GF Value, RingCentral Inc.’s intrinsic value is estimated at $43.87 per share, suggesting that the stock is slightly undervalued with a Price to GF Value ratio of 0.75.
The GF value is calculated based on historical multiples such as price-earnings ratio, price-sales ratio, price-book ratio and price-free cash flow and adjusted for the company’s past performance and expected future business results.
This insider sale may be of interest to current and prospective investors as it provides insight into the insider’s view on the stock’s valuation and future prospects.
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