Insider Selling: Vonage Holdings Corp. (VG) Director Sells $767,487.72 in Stock

Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 83,332 shares of the stock in a transaction that occurred on Wednesday, January 9th. The stock was sold at an average price of $9.21, for a total value of $767,487.72. Following the completion of the transaction, the director now owns 8,558,801 shares of the company’s stock, valued at $78,826,557.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of NYSE VG opened at $9.14 on Friday. The firm has a market capitalization of $2.20 billion, a PE ratio of 32.64, a P/E/G ratio of 7.08 and a beta of 0.33. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.74 and a current ratio of 0.75. Vonage Holdings Corp. has a 12-month low of $7.91 and a 12-month high of $14.73.

Vonage (NYSE:VG) last announced its quarterly earnings data on Friday, November 2nd. The technology company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The business had revenue of $261.53 million for the quarter, compared to analysts’ expectations of $263.91 million. Vonage had a positive return on equity of 17.66% and a negative net margin of 1.22%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.07 earnings per share. As a group, analysts anticipate that Vonage Holdings Corp. will post 0.35 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace LLP raised its stake in Vonage by 2,793.8% in the third quarter. Marshall Wace LLP now owns 1,308,598 shares of the technology company’s stock valued at $18,530,000 after buying an additional 1,263,378 shares in the last quarter. Morgan Stanley raised its stake in Vonage by 50.8% in the third quarter. Morgan Stanley now owns 866,582 shares of the technology company’s stock valued at $12,272,000 after buying an additional 292,049 shares in the last quarter. Legal & General Group Plc raised its stake in Vonage by 9.2% in the third quarter. Legal & General Group Plc now owns 510,898 shares of the technology company’s stock valued at $7,258,000 after buying an additional 42,899 shares in the last quarter. Kepos Capital LP acquired a new stake in Vonage in the third quarter valued at $546,000. Finally, Glenmede Trust Co. NA raised its stake in Vonage by 15.1% in the third quarter. Glenmede Trust Co. NA now owns 4,545,778 shares of the technology company’s stock valued at $64,368,000 after buying an additional 595,360 shares in the last quarter. Institutional investors and hedge funds own 85.05% of the company’s stock.

Several research analysts recently weighed in on the company. William Blair reiterated an “outperform” rating on shares of Vonage in a research report on Monday, September 24th. Stephens began coverage on Vonage in a research report on Thursday, January 3rd. They issued an “overweight” rating and a $14.00 price objective for the company. Dougherty & Co restated a “buy” rating and set a $19.00 price target on shares of Vonage in a research report on Thursday, November 29th. Needham & Company LLC restated a “buy” rating and set a $15.00 price target on shares of Vonage in a research report on Monday, January 7th. Finally, ValuEngine lowered Vonage from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $14.83.

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About Vonage

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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