Jeffrey A. Citron Sells 238,303 Shares of Vonage Holdings Corp. (VG) Stock

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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About Vonage

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.

Insider Buying and Selling by Quarter for Vonage (NYSE:VG)

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