BlackRock Inc. grew its holdings in shares of Vonage Holdings Corp. (NYSE:VG) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,008,139 shares of the technology company’s stock after acquiring an additional 261,883 shares during the period. BlackRock Inc. owned 12.25% of Vonage worth $284,843,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. The Manufacturers Life Insurance Company raised its holdings 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 purchasing an additional 6,103 shares during the period. Aperio Group LLC grew its position in shares of Vonage by 58.4% during the 3rd quarter. Aperio Group LLC now owns 32,284 shares of the technology company’s stock valued at $263,000 after purchasing an additional 11,897 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Vonage during the 3rd quarter worth $177,000. New York State Teachers Retirement System bought a new stake in shares of Vonage during the 3rd quarter worth $693,000. Finally, State of Tennessee Treasury Department bought a new stake in shares of Vonage during the 3rd quarter worth $1,436,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.
In related news, Director Jeffrey A. Citron sold 238,303 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $10.07, for a total value of $2,399,711.21. Following the sale, the director now owns 10,680,286 shares of the company’s stock, valued at $107,550,480.02. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Alan Masarek sold 487,703 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $10.34, for a total transaction of $5,042,849.02. Following the sale, the chief executive officer now directly owns 983,423 shares in the company, valued at approximately $10,168,593.82. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 100,000 shares of company stock valued at $21,330 and have sold 2,731,274 shares valued at $28,487,141. Company insiders own 14.05% of the company’s stock.
Shares of VG stock traded up $0.01 during midday trading on Friday, reaching $10.75. 6,126,840 shares of the company’s stock traded hands, compared to its average volume of 2,245,368. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.65 and a current ratio of 0.67. Vonage Holdings Corp. has a twelve month low of $5.98 and a twelve month high of $11.65. The firm has a market cap of $2,458.21, a PE ratio of -67.19, a price-to-earnings-growth ratio of 5.81 and a beta of 0.09.
Vonage (NYSE:VG) last released its earnings results on Wednesday, February 21st. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.01). Vonage had a positive return on equity of 14.13% and a negative net margin of 3.39%. The business had revenue of $254.00 million for the quarter, compared to analysts’ expectations of $254.19 million. During the same period in the previous year, the company earned $0.03 EPS. Vonage’s quarterly revenue was up 2.9% compared to the same quarter last year. sell-side analysts forecast that Vonage Holdings Corp. will post 0.36 earnings per share for the current fiscal year.
Several equities analysts recently issued reports on the stock. Summit Redstone reiterated a “hold” rating on shares of Vonage in a research report on Friday, February 9th. Robert W. Baird reiterated a “buy” rating and set a $11.00 price target on shares of Vonage in a report on Wednesday, January 3rd. ValuEngine upgraded shares of Vonage from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Needham & Company LLC increased their price objective on shares of Vonage from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, December 11th. Finally, Zacks Investment Research raised shares of Vonage from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Saturday, January 6th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $10.41.
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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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