Vonage Holdings Corp. (VG) CRO Sells $411,920.00 in Stock

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.

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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.

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

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