Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 238,303 shares of the stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $10.07, for a total value of $2,399,711.21. Following the sale, the director now owns 10,680,286 shares of the company’s stock, valued at $107,550,480.02. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of Vonage Holdings Corp. (NYSE:VG) opened at $10.96 on Friday. Vonage Holdings Corp. has a fifty-two week low of $5.74 and a fifty-two week high of $11.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.64 and a quick ratio of 0.63. The firm has a market capitalization of $2,426.20, a P/E ratio of 137.02, a price-to-earnings-growth ratio of 6.24 and a beta of -0.05.
Vonage (NYSE:VG) last released its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. Vonage had a return on equity of 11.47% and a net margin of 2.14%. The business had revenue of $253.10 million during the quarter, compared to analysts’ expectations of $249.02 million. During the same quarter last year, the business posted $0.09 EPS. The business’s revenue was up 1.9% on a year-over-year basis. sell-side analysts forecast that Vonage Holdings Corp. will post 0.28 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VG. Southpoint Capital Advisors LP purchased a new stake in Vonage in the 2nd quarter worth approximately $27,468,000. SQN Investors LP lifted its holdings in Vonage by 111.0% in the 2nd quarter. SQN Investors LP now owns 5,647,830 shares of the technology company’s stock worth $36,937,000 after buying an additional 2,970,716 shares during the period. Principal Financial Group Inc. lifted its holdings in Vonage by 3,438.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,594,420 shares of the technology company’s stock worth $12,979,000 after buying an additional 1,549,359 shares during the period. Bank of New York Mellon Corp lifted its holdings in Vonage by 103.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,674,457 shares of the technology company’s stock worth $21,769,000 after buying an additional 1,360,141 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Vonage by 269.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,441,286 shares of the technology company’s stock worth $11,733,000 after buying an additional 1,051,190 shares during the period. Institutional investors and hedge funds own 83.99% of the company’s stock.
Several brokerages recently weighed in on VG. Zacks Investment Research restated a “hold” rating and set a $11.00 target price on shares of Vonage in a report on Saturday. Robert W. Baird restated a “buy” rating and set a $11.00 target price on shares of Vonage in a report on Wednesday, January 3rd. Needham & Company LLC increased their target price on Vonage from $10.00 to $12.00 and gave the company a “buy” rating in a report on Monday, December 11th. Oppenheimer increased their target price on Vonage from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Thursday, November 9th. Finally, Citigroup restated a “buy” rating and set a $11.00 target price on shares of Vonage in a report on Wednesday, November 8th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $10.30.
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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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