Vonage Holdings Corp. (NYSE:VG) insider Edward M. Gilvar sold 17,778 shares of Vonage stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $9.76, for a total value of $173,513.28. Following the completion of the sale, the insider now directly owns 29,199 shares in the company, valued at $284,982.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Vonage Holdings Corp. (NYSE:VG) traded down $0.13 during midday trading on Wednesday, hitting $9.92. The company had a trading volume of 1,551,791 shares, compared to its average volume of 2,542,848. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $2,323.30, a price-to-earnings ratio of 46.18, a price-to-earnings-growth ratio of 7.21 and a beta of -0.04. Vonage Holdings Corp. has a 12-month low of $5.74 and a 12-month high of $10.49.
Vonage (NYSE:VG) last posted its earnings results on Tuesday, November 7th. The technology company reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. The company had revenue of $253.10 million during the quarter, compared to analyst estimates of $249.02 million. Vonage had a return on equity of 11.47% and a net margin of 2.14%. Vonage’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 earnings per share. equities research analysts anticipate that Vonage Holdings Corp. will post 0.28 earnings per share for the current year.
VG has been the topic of several analyst reports. Needham & Company LLC reissued a “buy” rating and set a $10.00 price objective (up from $9.50) on shares of Vonage in a research note on Wednesday, November 8th. Citigroup reissued a “buy” rating and set a $11.00 price objective on shares of Vonage in a research note on Wednesday, November 8th. They noted that the move was a valuation call. Craig Hallum reissued a “buy” rating and set a $11.00 price objective (up from $10.00) on shares of Vonage in a research note on Tuesday, November 7th. Robert W. Baird restated a “buy” rating and set a $9.00 target price on shares of Vonage in a research report on Friday, October 20th. Finally, Northland Securities restated a “buy” rating and set a $9.50 target price on shares of Vonage in a research report on Thursday, October 12th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $9.72.
Institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its position in shares of Vonage by 36,952.8% during the first quarter. BlackRock Inc. now owns 15,753,734 shares of the technology company’s stock worth $99,564,000 after purchasing an additional 15,711,217 shares in the last quarter. Southpoint Capital Advisors LP acquired a new position in shares of Vonage during the second quarter worth $27,468,000. SQN Investors LP increased its position in shares of Vonage by 111.0% during the second quarter. SQN Investors LP now owns 5,647,830 shares of the technology company’s stock worth $36,937,000 after purchasing an additional 2,970,716 shares in the last quarter. Rubric Capital Management LP acquired a new position in shares of Vonage during the second quarter worth $15,696,000. Finally, Principal Financial Group Inc. increased its position in shares of Vonage by 3,438.4% during the third quarter. Principal Financial Group Inc. now owns 1,594,420 shares of the technology company’s stock worth $12,979,000 after purchasing an additional 1,549,359 shares in the last quarter. Institutional investors own 84.01% of the company’s stock.
Vonage Company Profile
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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