Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. RingCentral Inc shares valued at $3,433,440 were purchased by Vladimir G. Shmunis on Nov 21 ’24. At $34.87 per share, Vladimir G. Shmunis acquired 98,464 shares.
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Also, John H. Marlow purchased 37,513 shares, netting a total of over 1,308,078 in proceeds.
Before that, AZIZ MEGJI had added 2,813 shares to its account. In a trade valued at $98,568, the Officer bought RingCentral Inc shares for $35.04 each.
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 drop of approximately -5.09%. Over the course of the year, RingCentral Inc shares have jumped approximately 2.71%. Shares of the company reached a 52-week high of $40.98 on 11/08/24 and a 52-week low of $26.98 on 06/27/24. A 50-day SMA is recorded $33.32, while a 200-day SMA reached $32.64. Nevertheless, trading volume fell to 1.52 million shares from 0.69 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 34.36, which, if violated, would cause prices to drop to 33.85. In the upper region, resistance lies at 35.44. The next price resistance is at 36.01. RSI (Relative Strength Index) is 48.28 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.31, which suggests the price will decrease in the coming days. Percent R is at 89.20%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
