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Insider Trends: RingCentral Insider Sale for Taxes Adds to 90-Day Selling Trend

8:18PM ET 5/21/2019 MT Newswires
On May 20, 2019, John H Marlow, SVP, CAO & General Counsel, completed a sale of 4,808 RingCentral (RNG) shares for approximately $581,720 to meet tax obligations. After the Form 4 filing with the SEC, Marlow owns 112,049 shares of company stock, which have a market value of $13.6 million as of the prior-day closing price.

Over the last 90 days, previous to the date of this filing, there have been 49 insider transactions reported to the SEC for RingCentral. These transactions came from the activities of 8 separate insiders that resulted in a net disposition of 259,094 company shares. This compares with the preceding 90-day window of time where there were 32 transactions from 6 insiders which resulted in the net disposition of 146,092 shares.

This is lower than the average level of insider transactions in the 71-company Enterprise Software peer group over the last 90-day period. Within the peer group activity averaged 112.9 transactions per company, and disposition of 49,839 shares on average.

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