Chartwell Investment Partners LLC boosted its position in shares of Vonage Holdings Corp. (NYSE:VG) by 73.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 695,057 shares of the technology company’s stock after purchasing an additional 294,566 shares during the quarter. Chartwell Investment Partners LLC owned about 0.30% of Vonage worth $7,069,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Vonage by 87.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,788 shares of the technology company’s stock valued at $100,000 after acquiring an additional 4,569 shares during the period. World Asset Management Inc purchased a new position in shares of Vonage in the 3rd quarter valued at $112,000. LS Investment Advisors LLC increased its holdings in shares of Vonage by 83.5% in the 4th quarter. LS Investment Advisors LLC now owns 12,490 shares of the technology company’s stock valued at $127,000 after acquiring an additional 5,683 shares during the period. Bank of Montreal Can increased its holdings in shares of Vonage by 103.4% in the 4th quarter. Bank of Montreal Can now owns 12,948 shares of the technology company’s stock valued at $131,000 after acquiring an additional 6,581 shares during the period. Finally, Fortaleza Asset Management Inc. purchased a new position in shares of Vonage in the 4th quarter valued at $142,000. Institutional investors own 83.97% of the company’s stock.
Shares of Vonage Holdings Corp. (NYSE:VG) opened at $11.19 on Friday. 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 firm has a market capitalization of $2,483.37, a price-to-earnings ratio of 139.89, a PEG ratio of 6.39 and a beta of -0.04. Vonage Holdings Corp. has a 52-week low of $5.74 and a 52-week high of $11.32.
A number of research analysts have recently issued reports on the company. Zacks Investment Research reiterated a “hold” rating and issued a $11.00 price target on shares of Vonage in a report on Saturday, January 13th. Summit Redstone reiterated a “hold” rating on shares of Vonage in a report on Friday, February 9th. Robert W. Baird reiterated a “buy” rating and issued a $11.00 price target on shares of Vonage in a report on Wednesday, January 3rd. Needham & Company LLC lifted their price target on Vonage from $10.00 to $12.00 and gave the company a “buy” rating in a report on Monday, December 11th. Finally, Oppenheimer lifted their price target on Vonage from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Thursday, November 9th. Three equities 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 an average rating of “Buy” and an average target price of $10.30.
In other news, Director Jeffrey A. Citron sold 514,913 shares of the firm’s stock in a transaction on Friday, January 12th. The stock was 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 owns 10,680,286 shares of the company’s stock, valued at approximately $110,754,565.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey A. Citron sold 414,916 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $10.18, for a total value of $4,223,844.88. Following the completion of the sale, the director now directly owns 10,676,047 shares of the company’s stock, valued at approximately $108,682,158.46. The disclosure for this sale can be found here. Insiders sold a total of 1,324,213 shares of company stock valued at $13,539,110 in the last three months. Insiders own 14.05% of the company’s stock.
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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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