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.
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.
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