Vonage Holdings (NYSE:VG) Director Jeffrey A. Citron sold 233,332 shares of the stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $10.91, for a total value of $2,545,652.12. Following the transaction, the director now directly owns 12,243,391 shares of the company’s stock, valued at $133,575,395.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of VG stock opened at $10.56 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.65 and a debt-to-equity ratio of 0.45. Vonage Holdings has a 52-week low of $6.09 and a 52-week high of $11.65. The firm has a market capitalization of $2,414.77, a P/E ratio of 37.71, a price-to-earnings-growth ratio of 5.80 and a beta of 0.04.
Vonage (NYSE:VG) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $254.19 million. During the same quarter last year, the business posted $0.03 EPS. The company’s quarterly revenue was up 2.9% on a year-over-year basis. analysts predict that Vonage Holdings will post 0.36 EPS for the current year.
Several equities analysts have weighed in on the company. Zacks Investment Research reissued a “hold” rating and set a $11.00 price objective on shares of Vonage in a report on Saturday, January 13th. Summit Redstone restated a “hold” rating on shares of Vonage in a research report on Friday, February 9th. 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 set a $12.00 target price (up previously from $11.00) on shares of Vonage in a research report on Thursday, February 22nd. Finally, Needham & Company LLC increased their target price on Vonage from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Vonage currently has an average rating of “Buy” and an average price target of $10.41.
Several hedge funds have recently modified their holdings of VG. Wells Fargo & Company MN increased its stake in Vonage by 20.8% in the third quarter. Wells Fargo & Company MN now owns 474,112 shares of the technology company’s stock valued at $3,859,000 after acquiring an additional 81,710 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in Vonage in the third quarter valued at $367,000. Chicago Equity Partners LLC bought a new position in Vonage in the fourth quarter valued at $671,000. Smith Asset Management Group LP bought a new position in Vonage in the fourth quarter valued at $688,000. Finally, ING Groep NV bought a new position in Vonage in the third quarter valued at $324,000. Institutional investors own 86.28% of the company’s stock.
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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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