Does RingCentral Inc. (RNG) Have Insiders Buying Shares?

As of Wednesday close, RingCentral Inc.’s (NYSE:RNG) stock was up $0.51, moving up 0.98 percent to $52.45. The average number of shares traded per day over the past five days has been 2,401,460 shares. 1 time new highs have been achieved over the past 5 days, with a $3.76 gain in that time frame. In the last twenty days, the average volume was 2,003,510, while in the previous 50 days, it was 1,902,366.

Since last month, RNG stock retreated -18.56%. Shares of the company fell to $48.53 on 06/14/22, the lowest level in the past month. A 52-week high of $315.00 was reached on 01/12/22 after having rallying from a 52-week low of $48.53. Since the beginning of this year, RNG’s stock price has dropped by -72.00% or -$134.90, and marked a new high 2 times. However, the stock has declined by -83.35% since its 52-week high.

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RingCentral Inc. (RNG) last reported insider trading activity 9 days ago on Jun 14. Shmunis Vladimir, the CEO & Chairman of the company, purchased of 10,000 shares for $50.07 on Jun 14. It resulted in a $500,730 investment by the insider. Parekh Sonalee Elizabeth sold 15,360 shares at an average price of $62.69 on Jun 02. The insider now owns 113,528 shares following the transaction. On May 27, SVP, CAO & General Counsel Marlow John H sold 7,320 shares at $65.34 apiece. The transaction was valued at $478,289.

Valuation Metrics

The stock’s beta is 1.04. Besides these, the trailing price-to-sales (P/S) ratio of 2.77, the price-to-book (PB) ratio of 100.87, and the price-to-cash flow ratio of 32.16 may also be considered.

Financial Health

In the three months ended March 30, RingCentral Inc.’s quick ratio stood at 1.20, while its current ratio was 1.30, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending March 30 was 33.51. On the profitability front, the trailing twelve-month gross margin is 70.40% percent. In the year ended March 30, operating margins totaled -21.20%. Based on annual data, RNG earned $1.15 billion in gross profit and brought in $1.59 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -17.50%. Return on equity (ROE) for the past 12 months was -401.30%.

According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. RNG’s revenue rose 24.65% to $448.5 million during the quarter, while net income inched up to $467.66 million. While analysts expected RingCentral Inc. to report $0.34 quarterly earnings, the actual figure was $0.39 per share, beating the consensus estimate by 14.70%. During the quarter, the company generated -$18.32 million in EBITDA. The liabilities of RingCentral Inc. were 2.52 billion at the end of its most recent quarter ended March 30, and its total debt was $1.45 billion. The value of shareholders’ equity is $94.9 million.

Technical Picture

This quick technical analysis looks at RingCentral Inc.’s (RNG) price momentum. With a historical volatility rate of 97.37%, the RSI 9-day stood at 39.98% on 22 June.

With respect to its five-day moving average, the current RingCentral Inc. price is up by +7.72% percent or $3.76. At present, RNG shares trade -15.58% below its 20-day simple moving average and -66.48% percent below its 100-day simple moving average. However, the stock is currently trading approximately -53.09% below its SMA50 and -79.09% below its SMA200.

Stochastic coefficient K was 18.37% and Stochastic coefficient D was 16.85%, while ATR was 4.11. Given the Stochastic reading of 19.59% for the 14-day period, the RSI (14) reading has been calculated as 38.09%. As of today, the MACD Oscillator reading stands at -0.20, while the 14-day reading stands at -4.16.

Analyst Ratings

RingCentral Inc. downgraded its rating on RingCentral Inc. (NYSE: RNG) to a Neutral in a note to investors on May 16, 2022. The analysts firm previously had an Outperform rating on the stock.RingCentral Inc. (RNG) has been rated Buy by analysts. According to 0 brokerage firms, RNG is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 2 analysts rate RingCentral Inc. stock as buy, with 21 recommending it as overweight.

With a median target price of $118.00, the current consensus forecast for the stock is $80.00 – $175.00. Based on these forecasts, analysts predict RingCentral Inc. (RNG) will achieve an average price target of $119.17.


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