Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. RingCentral Inc. shares valued at $1,137,237 were sold by Shmunis Vladimir on May 22 ’24. At $35.52 per share, Shmunis Vladimir sold 32,013 shares. The insider’s holdings dropped to 635,969 shares worth approximately $21.97 million following the completion of this transaction.
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Also, Marlow John H sold 14,228 shares, netting a total of over 505,389 in proceeds. Following the sale of shares at $35.52 each, the insider now holds 411,040 shares.
Before that, Shmunis Vladimir had sold 66,530 shares from its account. In a trade valued at $2,389,817, the CEO and Chairman traded RingCentral Inc. shares for $35.92 each. Upon closing the transaction, the insider’s holdings decreased to 66,530 shares, worth approximately $23.07 million.
As published in a research note from Wells Fargo on December 20, 2023, RingCentral Inc. [RNG] has been rated down from an Overweight to an Equal weight and the price target has been revised to $36. Analysts at Jefferies downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid December. As of October 23, 2023, Rosenblatt has decreased its “Buy” rating to a “Neutral” for RNG. Earlier on August 08, 2023, Morgan Stanley downgraded its rating. Their new recommendation was “an Equal-weight” for RNG stock which previously was a “an Overweight”.
Analyzing RNG Stock Performance
During the last five days, there has been a drop of approximately -5.58%. Over the course of the year, RingCentral Inc. shares have jumped approximately 1.74%. Shares of the company reached a 52-week high of $38.35 on 05/15/24 and a 52-week low of $29.07 on 04/19/24. A 50-day SMA is recorded $33.26, while a 200-day SMA reached $31.57. Nevertheless, trading volume fell to 0.96 million shares from 1.81 million shares the previous day.
Support And Resistance Levels for RingCentral Inc. (RNG)
According to the 24-hour chart, there is a support level at 33.95, which, if violated, would cause prices to drop to 33.36. In the upper region, resistance lies at 35.27. The next price resistance is at 36.00. RSI (Relative Strength Index) is 52.06 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.08, which suggests the price will decrease in the coming days. Percent R is at 45.52%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
