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.
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