Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron Sells 514,913 Shares

Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 514,913 shares of the firm’s stock in a transaction that occurred on 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 $110,754,565.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Vonage Holdings Corp. (VG) traded down $0.24 during trading hours on Friday, reaching $10.80. The company’s stock had a trading volume of 1,383,547 shares, compared to its average volume of 1,490,000. Vonage Holdings Corp. has a 12 month low of $5.74 and a 12 month high of $11.32. 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 stock has a market capitalization of $2,460.00, a P/E ratio of 120.00, a P/E/G ratio of 6.35 and a beta of -0.04.

Vonage (NYSE:VG) last posted its earnings results on Tuesday, November 7th. The technology company reported $0.07 EPS for the quarter, meeting the Zacks’ consensus estimate 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 for the quarter, compared to the consensus estimate of $249.02 million. During the same quarter in the previous year, the business earned $0.09 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. equities analysts expect that Vonage Holdings Corp. will post 0.28 EPS for the current year.

A number of large investors have recently bought and sold shares of the business. Parametric Portfolio Associates LLC grew its stake in shares of Vonage by 54.2% in the second quarter. Parametric Portfolio Associates LLC now owns 744,774 shares of the technology company’s stock valued at $4,871,000 after buying an additional 261,918 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Vonage by 20.8% in the third quarter. Wells Fargo & Company MN now owns 474,112 shares of the technology company’s stock valued at $3,859,000 after buying an additional 81,710 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Vonage by 15.3% in the second quarter. Royal Bank of Canada now owns 6,559,655 shares of the technology company’s stock valued at $42,902,000 after buying an additional 872,527 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Vonage by 2.2% in the second 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. Finally, Ameriprise Financial Inc. grew its stake in shares of Vonage by 320.4% in the second quarter. Ameriprise Financial Inc. now owns 390,096 shares of the technology company’s stock valued at $2,571,000 after buying an additional 297,302 shares in the last quarter. Institutional investors own 83.92% of the company’s stock.

Several equities analysts have recently weighed in on VG shares. Robert W. Baird restated a “buy” rating and issued a $11.00 target price on shares of Vonage in a research report on Wednesday, January 3rd. Craig Hallum restated a “buy” rating and issued a $11.00 target price (up previously from $10.00) on shares of Vonage in a research report on Tuesday, November 7th. Zacks Investment Research upgraded Vonage from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Saturday, January 6th. Citigroup reiterated a “buy” rating and set a $11.00 price objective on shares of Vonage in a research 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 objective on shares of Vonage in a research 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 company currently has a consensus rating of “Buy” and a consensus target price of $10.30.

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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.

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

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