Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 500,000 shares of the stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $10.83, for a total transaction of $5,415,000.00. Following the completion of the transaction, the director now owns 12,243,391 shares of the company’s stock, valued at $132,595,924.53. The sale was disclosed in a document filed with the SEC, which is available through this link.
Shares of Vonage stock opened at $10.75 on Monday. 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. 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 12 month low of $5.98 and a 12 month high of $11.65.
Vonage (NYSE:VG) last released its quarterly earnings data on Wednesday, February 21st. The technology company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The firm had revenue of $254.00 million for the quarter, compared to the consensus estimate of $254.19 million. Vonage had a negative net margin of 3.39% and a positive return on equity of 14.13%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.03 earnings per share. equities research analysts predict that Vonage Holdings Corp. will post 0.36 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in VG. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Vonage by 87.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,788 shares of the technology company’s stock worth $100,000 after acquiring an additional 4,569 shares during the period. LS Investment Advisors LLC grew its stake in shares of Vonage by 83.5% in the fourth quarter. LS Investment Advisors LLC now owns 12,490 shares of the technology company’s stock worth $127,000 after acquiring an additional 5,683 shares during the period. Bank of Montreal Can grew its stake in shares of Vonage by 103.4% in the fourth quarter. Bank of Montreal Can now owns 12,948 shares of the technology company’s stock worth $131,000 after acquiring an additional 6,581 shares during the period. Fortaleza Asset Management Inc. bought a new stake in shares of Vonage in the fourth quarter worth approximately $142,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Vonage in the fourth quarter worth approximately $146,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.
Several brokerages recently issued reports on VG. Summit Redstone reiterated a “hold” rating on shares of Vonage in a research note on Friday, February 9th. Needham & Company LLC raised their price objective on shares of Vonage from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Zacks Investment Research restated a “hold” rating and set a $11.00 price objective on shares of Vonage in a research note on Saturday, January 13th. Robert W. Baird restated an “outperform” rating and set a $12.00 price objective (up from $11.00) on shares of Vonage in a research note on Thursday, February 22nd. Finally, ValuEngine upgraded shares of Vonage from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $10.41.
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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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