Dynamic Technology Lab Private Ltd lowered its stake in shares of Vonage Holdings Corp. (NYSE:VG) by 15.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,929 shares of the technology company’s stock after selling 14,109 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Vonage were worth $609,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. World Asset Management Inc acquired a new stake in Vonage during the third quarter worth approximately $112,000. Bayesian Capital Management LP bought a new stake in Vonage during the second quarter worth $118,000. Eqis Capital Management Inc. lifted its stake in Vonage by 4.2% during the second quarter. Eqis Capital Management Inc. now owns 20,043 shares of the technology company’s stock worth $131,000 after purchasing an additional 813 shares during the last quarter. Quantitative Systematic Strategies LLC lifted its stake in Vonage by 19.0% during the second quarter. Quantitative Systematic Strategies LLC now owns 19,671 shares of the technology company’s stock worth $131,000 after purchasing an additional 3,136 shares during the last quarter. Finally, Aperio Group LLC lifted its stake in Vonage by 2.2% during the second quarter. Aperio Group LLC now owns 20,387 shares of the technology company’s stock worth $133,000 after purchasing an additional 433 shares during the last quarter. 84.01% of the stock is currently owned by institutional investors and hedge funds.
VG has been the subject of several recent analyst reports. Zacks Investment Research upgraded Vonage from a “hold” rating to a “buy” rating and set a $9.75 target price for the company in a research note on Saturday, November 11th. Citigroup restated a “buy” rating and set a $11.00 target price on shares of Vonage in a research note on Wednesday, November 8th. They noted that the move was a valuation call. Northland Securities restated a “buy” rating and set a $9.50 target price on shares of Vonage in a research note on Tuesday, September 5th. BidaskClub upgraded Vonage from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Finally, Craig Hallum restated a “buy” rating and set a $11.00 target price (up from $10.00) on shares of Vonage in a research note on Tuesday, November 7th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $9.72.
Shares of Vonage Holdings Corp. (NYSE VG) traded down $0.16 on Tuesday, hitting $10.16. The stock had a trading volume of 2,191,000 shares, compared to its average volume of 2,549,239. Vonage Holdings Corp. has a one year low of $5.74 and a one year high of $10.49. The company has a market cap of $2,359.89, a PE ratio of 46.91, a price-to-earnings-growth ratio of 7.32 and a beta of -0.04. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.51.
Vonage (NYSE:VG) last announced its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.07 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.07. Vonage had a return on equity of 11.47% and a net margin of 2.14%. The company had revenue of $253.10 million during the quarter, compared to analysts’ expectations of $249.02 million. During the same period in the prior year, the company earned $0.09 EPS. Vonage’s revenue was up 1.9% compared to the same quarter last year. research analysts anticipate that Vonage Holdings Corp. will post 0.28 earnings per share for the current fiscal year.
In other news, Director Jeffrey A. Citron sold 414,913 shares of the stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $7.99, for a total value of $3,315,154.87. Following the completion of the transaction, the director now directly owns 12,670,751 shares in the company, valued at approximately $101,239,300.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward M. Gilvar sold 17,778 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $9.76, for a total value of $173,513.28. Following the completion of the transaction, the insider now owns 29,199 shares of the company’s stock, valued at $284,982.24. The disclosure for this sale can be found here. Insiders sold a total of 1,539,123 shares of company stock valued at $12,962,492 over the last quarter. 14.05% of the stock is owned by corporate insiders.
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Vonage Holdings Corp. is a provider of cloud communications services for businesses and consumers, and consumer and communication solutions across multiple devices. The Company operates through two segments: Business and Consumer. For business services customers, the Company provides cloud-based unified communications as a service (UCaaS) solutions, consisting of integrated voice, text, video, data, collaboration, and mobile applications over its scalable session initiation protocol (SIP) based voice over Internet protocol (VoIP) network.
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