Vonage Holdings (NYSE:VG) Director Jeffrey A. Citron sold 500,000 shares of the business’s stock in a transaction dated Friday, April 20th. The stock was sold at an average price of $11.25, for a total transaction of $5,625,000.00. Following the sale, the director now directly owns 12,247,439 shares in the company, valued at $137,783,688.75. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of VG stock traded down $0.12 on Friday, reaching $11.13. The stock had a trading volume of 783,932 shares, compared to its average volume of 1,719,291. 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 cap of $2,602.28, a price-to-earnings ratio of 39.75, a PEG ratio of 6.25 and a beta of 0.04. Vonage Holdings has a 12 month low of $6.28 and a 12 month high of $11.65.
Vonage (NYSE:VG) last issued 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). The firm had revenue of $254.00 million during 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 period in the previous year, the company posted $0.03 earnings per share. sell-side analysts predict that Vonage Holdings will post 0.36 EPS for the current fiscal year.
VG has been the topic of several analyst reports. Robert W. Baird reissued a “buy” rating and set a $11.00 price target on shares of Vonage in a research report on Wednesday, January 3rd. Zacks Investment Research raised shares of Vonage from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Saturday, January 6th. Summit Redstone reissued a “hold” rating on shares of Vonage in a research report on Friday, February 9th. Finally, ValuEngine raised shares of Vonage from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $10.52.
Hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Vonage by 87.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,788 shares of the technology company’s stock valued at $100,000 after purchasing an additional 4,569 shares during the period. LS Investment Advisors LLC raised its holdings in shares of Vonage by 83.5% in the 4th quarter. LS Investment Advisors LLC now owns 12,490 shares of the technology company’s stock valued at $127,000 after purchasing an additional 5,683 shares during the period. Bank of Montreal Can raised its holdings in shares of Vonage by 103.4% in the 4th quarter. Bank of Montreal Can now owns 12,948 shares of the technology company’s stock valued at $131,000 after purchasing an additional 6,581 shares during the period. Fortaleza Asset Management Inc. bought a new stake in shares of Vonage in the 4th quarter valued at about $142,000. Finally, C M Bidwell & Associates Ltd. bought a new position in Vonage in the 4th quarter valued at about $146,000. 86.25% of the stock is currently owned by institutional investors.
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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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