RingCentral Inc. (NYSE: RNG) is -11.37% lower on its value in year-to-date trading and has touched a low of $25.08 and a high of $38.35 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The RNG stock was last observed hovering at around $30.04 in the last trading session, with the day’s gains setting it 0.05%.
Currently trading at $30.09, the stock is -3.23% and -6.24% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.17 million and changing 0.17% at the moment leaves the stock -7.67% off its SMA200. RNG registered 2.63% gain for a year compared to 6-month loss of -15.10%.
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The stock witnessed a -11.89% gain in the last 1 month and extending the period to 3 months gives it a 10.79%, and is 7.46% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.37% over the week and 3.96% over the month.
RingCentral Inc. (RNG) has around 4084 employees, a market worth around $2.76B and $2.31B in sales. Fwd P/E is 7.23. Profit margin for the company is -5.75%. Distance from 52-week low is 20.00% and -21.54% from its 52-week high. The company has generated returns on investments over the last 12 months (-12.53%).
The EPS is expected to grow by 13.28% this year
394.0 institutions hold shares in RingCentral Inc. (RNG), with institutional investors hold 107.57% of the company’s shares. The shares outstanding are 83.54M, and float is at 80.05M with Short Float at 7.22%. Institutions hold 105.70% of the Float.
The top institutional shareholder in the company is VANGUARD GROUP INC with over 11.41 million shares valued at $321.75 million. The investor’s holdings represent 12.2495 of the RNG Shares outstanding. As of 2024-06-30, the second largest holder is CAPITAL WORLD INVESTORS with 9.86 million shares valued at $278.12 million to account for 10.5887 of the shares outstanding. The other top investors are SYLEBRA CAPITAL LLC which holds 7.54 million shares representing 8.0911 and valued at over $212.52 million, while AMERIPRISE FINANCIAL INC holds 6.845 of the shares totaling 6.38 million with a market value of $179.79 million.
RingCentral Inc. (RNG) Insider Activity
The most recent transaction is an insider sale by THEIS ROBERT I, the company’s Director. SEC filings show that THEIS ROBERT I sold 8,448 shares of the company’s common stock on Aug 26 ’24 at a price of $34.00 per share for a total of $0.29 million. Following the sale, the insider now owns 31604.0 shares.
RingCentral Inc. disclosed in a document filed with the SEC on Aug 23 ’24 that Parekh Sonalee Elizabeth (CHIEF FINANCIAL OFFICER) sold a total of 9,913 shares of the company’s common stock. The trade occurred on Aug 23 ’24 and was made at $33.45 per share for $0.33 million. Following the transaction, the insider now directly holds 0.36 million shares of the RNG stock.
Still, SEC filings show that on Aug 21 ’24, Marlow John H (SVP, CAO & GENERAL COUNSEL) disposed off 19,498 shares at an average price of $32.52 for $0.63 million. The insider now directly holds 391,542 shares of RingCentral Inc. (RNG).
