Jeffrey A. Citron Sells 138,303 Shares of Vonage Holdings Corp. (VG) Stock

Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 138,303 shares of Vonage Holdings Corp. stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $8.15, for a total transaction of $1,127,169.45. Following the sale, the director now owns 12,676,047 shares of the company’s stock, valued at $103,309,783.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Vonage Holdings Corp. (NYSE:VG) traded down 0.74% during mid-day trading on Thursday, reaching $8.08. 974,915 shares of the company’s stock traded hands. The company has a 50-day moving average of $8.15 and a 200-day moving average of $7.22. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 101.00 and a beta of -0.11. Vonage Holdings Corp. has a 52-week low of $5.74 and a 52-week high of $8.69.

Vonage Holdings Corp. (NYSE:VG) last released its earnings results on Thursday, August 3rd. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. Vonage Holdings Corp. had a net margin of 2.00% and a return on equity of 12.40%. The company had revenue of $252.00 million during the quarter, compared to the consensus estimate of $242.05 million. During the same quarter in the prior year, the firm earned $0.08 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. Equities research analysts expect that Vonage Holdings Corp. will post $0.27 EPS for the current year.

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A number of hedge funds have recently added to or reduced their stakes in VG. BlackRock Inc. lifted its position in Vonage Holdings Corp. by 36,952.8% in the 1st quarter. BlackRock Inc. now owns 15,753,734 shares of the technology company’s stock worth $99,564,000 after buying an additional 15,711,217 shares in the last quarter. Southpoint Capital Advisors LP purchased a new stake in Vonage Holdings Corp. in the 2nd quarter worth approximately $27,468,000. SQN Investors LP lifted its position in Vonage Holdings Corp. by 111.0% in the 2nd quarter. SQN Investors LP now owns 5,647,830 shares of the technology company’s stock worth $36,937,000 after buying an additional 2,970,716 shares in the last quarter. Rubric Capital Management LP purchased a new stake in Vonage Holdings Corp. in the 2nd quarter worth approximately $15,696,000. Finally, Vanguard Group Inc. lifted its position in Vonage Holdings Corp. by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 19,739,952 shares of the technology company’s stock worth $124,757,000 after buying an additional 1,741,500 shares in the last quarter. Institutional investors own 79.57% of the company’s stock.

VG has been the subject of a number of research reports. Northland Securities reiterated a “buy” rating and set a $9.50 price target on shares of Vonage Holdings Corp. in a research report on Tuesday, September 5th. BidaskClub upgraded Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Citigroup Inc. restated a “buy” rating and set a $9.75 price objective on shares of Vonage Holdings Corp. in a research report on Wednesday, September 13th. FBN Securities downgraded Vonage Holdings Corp. from an “outperform” rating to a “sector perform” rating and set a $8.70 price objective for the company. in a research report on Thursday, August 10th. Finally, Zacks Investment Research upgraded Vonage Holdings Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $9.16.

About Vonage Holdings Corp.

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.

Insider Buying and Selling by Quarter for Vonage Holdings Corp. (NYSE:VG)

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