Vonage Holdings Corp. (NYSE:VG) CRO Kenneth Wyatt sold 38,000 shares of Vonage stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $10.84, for a total value of $411,920.00. Following the completion of the sale, the executive now directly owns 39,716 shares of the company’s stock, valued at approximately $430,521.44. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Vonage Holdings Corp. (NYSE:VG) opened at $10.75 on Friday. The stock has a market capitalization of $2,455.93, a price-to-earnings ratio of -67.19, a PEG ratio of 5.81 and a beta of 0.09. Vonage Holdings Corp. has a 52 week low of $5.98 and a 52 week high of $11.65. The company has a quick ratio of 0.65, a current ratio of 0.67 and a debt-to-equity ratio of 0.45.
Vonage (NYSE:VG) last released its quarterly 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 analysts’ expectations of $254.19 million. Vonage had a positive return on equity of 14.13% and a negative net margin of 3.39%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business earned $0.03 earnings per share. research analysts predict that Vonage Holdings Corp. will post 0.37 earnings per share for the current year.
A number of analysts have commented on VG shares. Zacks Investment Research reissued a “hold” rating and issued a $11.00 target price on shares of Vonage in a report on Saturday, January 13th. Needham & Company LLC lifted their target price on Vonage from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, December 11th. ValuEngine raised Vonage from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Robert W. Baird reissued an “outperform” rating and issued a $12.00 target price (up previously from $11.00) on shares of Vonage in a report on Thursday, February 22nd. Finally, Summit Redstone reissued a “hold” rating on shares of Vonage in a report on Friday, February 9th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Vonage presently has a consensus rating of “Buy” and a consensus target price of $10.41.
Several hedge funds have recently added to or reduced their stakes in VG. Aperio Group LLC boosted its stake in shares of Vonage by 58.4% in the 3rd quarter. Aperio Group LLC now owns 32,284 shares of the technology company’s stock worth $263,000 after buying an additional 11,897 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Vonage in the 3rd quarter worth $177,000. State of Tennessee Treasury Department purchased a new position in Vonage during the third quarter valued at $1,436,000. American Century Companies Inc. purchased a new position in Vonage during the third quarter valued at $2,850,000. Finally, Prudential Financial Inc. lifted its position in Vonage by 62.9% during the third quarter. Prudential Financial Inc. now owns 530,377 shares of the technology company’s stock valued at $4,317,000 after purchasing an additional 204,870 shares in the last quarter. Hedge funds and other institutional investors own 86.27% 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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