Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 238,303 shares of the stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $10.07, for a total transaction of $2,399,711.21. Following the completion of the transaction, the director now directly owns 10,680,286 shares of the company’s stock, valued at $107,550,480.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Vonage Holdings Corp. (NYSE VG) opened at $10.73 on Friday. The firm has a market cap of $2,453.64, a price-to-earnings ratio of 48.77, a PEG ratio of 6.31 and a beta of -0.05. Vonage Holdings Corp. has a one year low of $5.74 and a one year high of $11.07. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.63 and a current ratio of 0.64.
Vonage (NYSE:VG) last announced its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.07 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.07. The firm had revenue of $253.10 million for the quarter, compared to the consensus estimate of $249.02 million. Vonage had a net margin of 2.14% and a return on equity of 11.47%. The company’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm earned $0.09 EPS. equities research analysts forecast that Vonage Holdings Corp. will post 0.28 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. Suntrust Banks Inc. raised its position in shares of Vonage by 2.6% during the 2nd quarter. Suntrust Banks Inc. now owns 31,971 shares of the technology company’s stock valued at $209,000 after purchasing an additional 807 shares during the period. Oppenheimer & Co. Inc. increased its holdings in Vonage by 5.1% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 32,101 shares of the technology company’s stock valued at $210,000 after acquiring an additional 1,571 shares during the last quarter. Amalgamated Bank grew its stake in shares of Vonage by 11.7% in the 2nd quarter. Amalgamated Bank now owns 26,757 shares of the technology company’s stock worth $175,000 after buying an additional 2,805 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Vonage by 6.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 89,500 shares of the technology company’s stock worth $910,000 after buying an additional 5,700 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Vonage by 4.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 153,445 shares of the technology company’s stock worth $1,004,000 after buying an additional 6,103 shares in the last quarter. Hedge funds and other institutional investors own 83.99% of the company’s stock.
A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of 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. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price (up previously from $9.50) on shares of Vonage in a research note on Wednesday, November 8th. 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. Craig Hallum reiterated a “buy” rating and set a $11.00 price target (up previously from $10.00) on shares of Vonage in a report on Tuesday, November 7th. Finally, Robert W. Baird reiterated a “buy” rating and set a $9.00 price target on shares of Vonage in a report on Friday, October 20th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target 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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