Chief Financial Officer Sonalee Parekh sold 9,913 shares of RingCentral Inc (NYSE:RNG) on August 23, 2024, according to a recent SEC filing. Following this transaction, the insider now owns 358,622 shares of the company’s stock.
RingCentral Inc., based in Belmont, California, is a leading provider of global cloud communications, collaboration and contact center solutions for the enterprise. More than 350,000 companies have chosen RingCentral to meet their business communications needs.
Over the past year, Sonalee Parekh has sold a total of 90,808 shares of the company’s stock and made no purchases. RingCentral Inc’s insider transaction history shows a trend with 20 insider sales and no insider purchases over the past year.
RingCentral Inc. shares were trading at $33.45 on the day of the transaction. The company has a market capitalization of approximately $3.104 billion.
According to GF Value, the intrinsic value of the stock is estimated at $43.87, which suggests that RingCentral Inc. is slightly 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-free cash flow and adjusted for the company’s past performance and expected future business results.
This recent insider sale may be of interest to current and prospective investors as it provides insight into insider confidence and stock valuation perceptions at RingCentral Inc.
This article created by GuruFocus is intended to provide general insights and does not constitute tailored financial advice. Our commentary is based on historical data and analyst forecasts, uses an unbiased methodology and is not intended to serve as specific investment advice. It does not contain a recommendation to buy or sell any stock and does not take into account any individual investment objectives or financial circumstances. Our goal is to provide long-term, fundamental, data-driven analysis. Note that our analysis may not include the most recent, price-sensitive company announcements or qualitative information. GuruFocus does not hold a position in any stocks mentioned here.
This article first appeared on GuruFocus.
