Vonage Holdings Corp. (NYSE:VG) insider Vinod Lala sold 29,388 shares of the stock in a transaction dated Monday, March 19th. The shares were sold at an average price of $10.60, for a total value of $311,512.80. Following the completion of the transaction, the insider now directly owns 22,165 shares in the company, valued at approximately $234,949. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of VG stock traded up $0.03 on Wednesday, reaching $10.97. The company’s stock had a trading volume of 641,745 shares, compared to its average volume of 1,951,935. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.65 and a current ratio of 0.67. The stock has a market capitalization of $2,435.35, a PE ratio of -68.56, a price-to-earnings-growth ratio of 5.85 and a beta of 0.09. Vonage Holdings Corp. has a fifty-two week low of $5.98 and a fifty-two week high of $11.65.
Vonage (NYSE:VG) last issued its quarterly earnings results on Wednesday, February 21st. The technology company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The company had revenue of $254.00 million during the quarter, compared to analysts’ expectations of $254.19 million. Vonage had a positive return on equity of 14.13% and a negative net margin of 3.39%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.03 EPS. equities research analysts forecast that Vonage Holdings Corp. will post 0.36 EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Vonage by 87.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,788 shares of the technology company’s stock worth $100,000 after purchasing an additional 4,569 shares in the last quarter. LS Investment Advisors LLC grew its position in shares of Vonage by 83.5% during the fourth quarter. LS Investment Advisors LLC now owns 12,490 shares of the technology company’s stock worth $127,000 after purchasing an additional 5,683 shares in the last quarter. Bank of Montreal Can grew its position in shares of Vonage by 103.4% during the fourth quarter. Bank of Montreal Can now owns 12,948 shares of the technology company’s stock worth $131,000 after purchasing an additional 6,581 shares in the last quarter. Fortaleza Asset Management Inc. purchased a new stake in shares of Vonage during the fourth quarter worth about $142,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of Vonage during the fourth quarter worth about $146,000. Hedge funds and other institutional investors own 86.26% of the company’s stock.
A number of research analysts have weighed in on VG shares. Zacks Investment Research reissued a “hold” rating and issued a $11.00 target price on shares of Vonage in a report on Saturday, January 13th. Needham & Company LLC increased their target price on Vonage from $10.00 to $12.00 and gave the company a “buy” rating in a report on Monday, December 11th. ValuEngine upgraded Vonage from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Robert W. Baird restated an “outperform” rating and issued a $12.00 price target (up previously from $11.00) on shares of Vonage in a research report on Thursday, February 22nd. Finally, Summit Redstone restated a “hold” rating on shares of Vonage in a research report on Friday, February 9th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price 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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