Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. RingCentral Inc shares valued at $328,697 were purchased by 2015 VEN C TRS FBO EDWARD B VE on Dec 13 ’24. At $41.00 per share, 2015 VEN C TRS FBO EDWARD B VE acquired 8,017 shares.
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Also, 2015 VENDROW C TRT FBO JOSH VE purchased 8,018 shares, netting a total of over 328,738 in proceeds.
Before that, SEGAL NED D. had sold 2,914 shares from its account. In a trade valued at $121,222, the Director traded RingCentral Inc shares for $41.60 each. Upon closing the transaction, the insider’s holdings decreased to 2,914 shares, worth approximately $0.4 million.
As published in a research note from Mizuho on December 13, 2024, RingCentral Inc [RNG] has been rated down from an Outperform to a Neutral and the price target has been revised to $42. Analysts at Rosenblatt upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early August. As of December 20, 2023, Wells Fargo has decreased its “an Overweight” rating to a “an Equal weight” for RNG. Earlier on December 12, 2023, Jefferies downgraded its rating. Their new recommendation was “a Hold” 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 -0.80%. Over the course of the year, RingCentral Inc shares have jumped approximately 10.07%. Shares of the company reached a 52-week high of $42.19 on 12/10/24 and a 52-week low of $26.98 on 06/27/24. A 50-day SMA is recorded $36.98, while a 200-day SMA reached $33.33. Nevertheless, trading volume fell to 0.63 million shares from 0.34 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 36.73, which, if violated, would cause prices to drop to 36.09. In the upper region, resistance lies at 37.88. The next price resistance is at 38.39. RSI (Relative Strength Index) is 46.96 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.01, which suggests the price will decrease in the coming days. Percent R is at 81.42%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
