Vonage Holdings (NYSE:VG) CRO Kenneth Wyatt sold 38,000 shares of Vonage stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $10.84, for a total transaction of $411,920.00. Following the completion of the transaction, the executive now directly owns 39,716 shares in the company, valued at approximately $430,521.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
VG stock opened at $10.56 on Friday. 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 has a 52 week low of $6.09 and a 52 week high of $11.65. The stock has a market capitalization of $2,421.63, a P/E ratio of 39.22, a price-to-earnings-growth ratio of 5.82 and a beta of 0.04.
Vonage (NYSE:VG) last posted its quarterly earnings data on Wednesday, February 21st. The technology company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $254.00 million for the quarter, compared to the consensus estimate of $254.19 million. During the same period in the prior year, the company earned $0.03 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. analysts predict that Vonage Holdings will post 0.36 EPS for the current year.
A number of analysts have recently commented on the stock. Summit Redstone reissued a “hold” rating on shares of Vonage in a research report on Friday, February 9th. Robert W. Baird restated a “buy” rating and set a $11.00 target price 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 report on Thursday, March 1st. Needham & Company LLC boosted their target price on shares of Vonage from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, December 11th. Finally, Zacks Investment Research upgraded shares of Vonage from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Saturday, January 6th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Vonage currently has an average rating of “Buy” and a consensus target price of $10.41.
A number of institutional investors and hedge funds have recently bought and sold shares of VG. Wells Fargo & Company MN lifted its holdings 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 worth $3,859,000 after acquiring an additional 81,710 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of Vonage in the third quarter worth about $367,000. Chicago Equity Partners LLC bought a new position in shares of Vonage in the fourth quarter worth about $671,000. Smith Asset Management Group LP bought a new position in shares of Vonage in the fourth quarter worth about $688,000. Finally, ING Groep NV bought a new position in Vonage in the 3rd quarter valued at approximately $324,000. 86.28% of the stock is owned by institutional investors and hedge funds.
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Vonage Company Profile
Vonage Holdings Corp. provides communications services connecting people through cloud-connected devices worldwide. It offers various business services, including basic dial tone, call queue, conferencing, call groups, mobile functionality, CRM integration, and detailed analytics, as well as Vonage Business Cloud and Vonage Enterprise services.
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