Schwab Charles Investment Management Inc. raised its stake in Vonage Holdings Corp. (NYSE:VG) by 4.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,280,064 shares of the technology company’s stock after buying an additional 51,311 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.56% of Vonage worth $10,420,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Vonage by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 20,177,322 shares of the technology company’s stock valued at $131,960,000 after buying an additional 437,370 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Vonage by 0.3% during the 2nd quarter. Alliancebernstein L.P. now owns 9,899,093 shares of the technology company’s stock worth $64,740,000 after purchasing an additional 32,532 shares during the period. Cramer Rosenthal Mcglynn LLC grew its holdings in shares of Vonage by 6.0% during the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 7,596,028 shares of the technology company’s stock worth $49,678,000 after purchasing an additional 427,218 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Vonage by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,961,559 shares of the technology company’s stock worth $45,529,000 after purchasing an additional 54,570 shares during the period. Finally, Royal Bank of Canada grew its holdings in shares of Vonage by 15.3% during the 2nd quarter. Royal Bank of Canada now owns 6,559,655 shares of the technology company’s stock worth $42,902,000 after purchasing an additional 872,527 shares during the period. Institutional investors own 83.99% of the company’s stock.
Vonage Holdings Corp. (VG) opened at $10.96 on Friday. Vonage Holdings Corp. has a twelve month low of $5.74 and a twelve month high of $11.00. The company has a market capitalization of $2,426.20, a PE ratio of 137.02, a P/E/G ratio of 6.24 and a beta of -0.05. The company has a current ratio of 0.64, a quick ratio of 0.63 and a debt-to-equity ratio of 0.51.
Vonage (NYSE:VG) last announced its earnings results on Tuesday, November 7th. The technology company reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates 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 last year, the business posted $0.09 EPS. Vonage’s revenue for the quarter was up 1.9% on a year-over-year basis. equities analysts anticipate that Vonage Holdings Corp. will post 0.28 earnings per share for the current fiscal year.
A number of equities analysts have recently weighed in on VG shares. Zacks Investment Research upgraded Vonage from a “hold” rating to a “buy” rating and set a $9.75 price target for the company in a report on Saturday, November 11th. Robert W. Baird reiterated a “buy” rating on shares of Vonage in a report on Friday, November 17th. Needham & Company LLC increased their price target on Vonage from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, December 11th. Citigroup reiterated a “buy” rating and set a $11.00 price target on shares of Vonage in a report on Wednesday, November 8th. They noted that the move was a valuation call. Finally, Northland Securities reiterated a “buy” rating and set a $9.50 price target on shares of Vonage in a report on Thursday, October 12th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $10.30.
In other Vonage news, Director Jeffrey A. Citron sold 414,913 shares of the stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $8.12, for a total value of $3,369,093.56. Following the sale, the director now owns 12,676,047 shares of the company’s stock, valued at approximately $102,929,501.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey A. Citron sold 514,913 shares of the stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $10.37, for a total value of $5,339,647.81. Following the completion of the sale, the director now directly owns 10,680,286 shares in the company, valued at approximately $110,754,565.82. The disclosure for this sale can be found here. Insiders have sold a total of 2,430,645 shares of company stock valued at $23,012,934 over the last 90 days. 14.05% of the stock is currently owned by company insiders.
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Vonage Company Profile
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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