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Insider Trends: Insider Sale at RingCentral Slowing 90-Days of Buying

05/11/2021 16:32

08:19 PM EDT, 05/11/2021 (MT Newswires) -- On May 10, 2021, Director, Godfrey Sullivan, executed a sale of 5,000 shares in RingCentral (RNG) for $1,290,400. After the Form 4 filing with the SEC, Sullivan controls a total of 31,401 shares of company stock, with 21,401 shares held directly and 10,000 owned indirectly. The market value of the direct and indirect holdings, based on the prior-day closing price, is approximately $8.18 million.

In the 90 days prior to the date of this filing, there have been 30 insider transactions reported to the SEC for RingCentral. These transactions came from the activities of 8 separate insiders that resulted in a net acquisition of 340,533 company shares. In the preceding 90-day window of time, there were 50 transactions from 11 insiders and resulted in the net disposition of 85,664 shares.

This is less than the average level of insider transactions in the 71-company Enterprise Software peer group over the last 90-day period. Activity in the peer group averaged 189.9 transactions per company, and disposition of 83,772 shares on average.

SEC Story Link http://www.sec.gov/Archives/edgar/data/1384905/000120919121031903/xslF345X03/doc4.xml

This report does not constitute a recommendation to purchase or sell any security and the analysts are not registered investment advisors. Further analysis is recommended before undertaking any position in any security. Any risks are solely the responsibility of the buyer/seller. The authors, publishers and distributors of the MT Newswires Live Briefs service and any associates thereof accept no liability for the content or actions taken by anyone or institution utilizing this report.