Vonage Holdings Corp. (NYSE:VG) Shares Bought by Schwab Charles Investment Management Inc.

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.

Institutional Ownership by Quarter for Vonage (NYSE:VG)

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