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 $291,456 were purchased by THEIS ROBERT I on Aug 09 ’24. At $34.50 per share, THEIS ROBERT I acquired 8,448 shares.
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Also, Agarwal Vaibhav sold 1,985 shares, netting a total of over 55,981 in proceeds. Following the sale of shares at $28.20 each, the insider now holds 156,799 shares.
Before that, Parekh Sonalee Elizabeth had sold 8,478 shares from its account. In a trade valued at $295,433, the CHIEF FINANCIAL OFFICER traded RingCentral Inc. shares for $34.85 each. Upon closing the transaction, the insider’s holdings decreased to 8,478 shares, worth approximately $13.21 million.
As published in a research note from Rosenblatt on August 02, 2024, RingCentral Inc. [RNG] has been rated up from a Neutral to a Buy and the price target has been revised to $45. Analysts at Wells Fargo downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in mid December. As of December 12, 2023, Jefferies has decreased its “Buy” rating to a “Hold” for RNG. Earlier on October 23, 2023, Rosenblatt downgraded its rating. Their new recommendation was “a Neutral” for RNG stock which previously was a “a Buy”.
Analyzing RNG Stock Performance
During the last five days, there has been a surge of approximately 0.59%. Over the course of the year, RingCentral Inc. shares have jumped approximately 0.03%. Shares of the company reached a 52-week high of $38.35 on 05/15/24 and a 52-week low of $26.98 on 06/27/24. A 50-day SMA is recorded $31.35, while a 200-day SMA reached $32.24. Nevertheless, trading volume fell to 0.85 million shares from 1.26 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 33.62, which, if violated, would cause prices to drop to 33.27. In the upper region, resistance lies at 34.24. The next price resistance is at 34.51. RSI (Relative Strength Index) is 55.81 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.47, which suggests the price will decrease in the coming days. Percent R is at 62.74%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.
