Teachers Advisors LLC grew its holdings in shares of Vonage Holdings Corp. (NYSE:VG) by 1.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,626,018 shares of the technology company’s stock after buying an additional 48,936 shares during the period. Teachers Advisors LLC owned 1.15% of Vonage worth $26,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also made changes to their positions in VG. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Vonage by 87.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,788 shares of the technology company’s stock valued at $100,000 after purchasing an additional 4,569 shares during the last quarter. LS Investment Advisors LLC lifted its holdings in shares of Vonage by 83.5% in the 4th quarter. LS Investment Advisors LLC now owns 12,490 shares of the technology company’s stock valued at $127,000 after purchasing an additional 5,683 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Vonage by 103.4% in the 4th quarter. Bank of Montreal Can now owns 12,948 shares of the technology company’s stock valued at $131,000 after purchasing an additional 6,581 shares during the last quarter. Fortaleza Asset Management Inc. purchased a new stake in shares of Vonage in the 4th quarter valued at about $142,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of Vonage in the 4th quarter valued at about $146,000. 86.26% of the stock is owned by institutional investors.
Several analysts have recently weighed in on the company. ValuEngine raised Vonage from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Robert W. Baird restated an “outperform” rating and issued a $12.00 price target (up previously from $11.00) on shares of Vonage in a research report on Thursday, February 22nd. Summit Redstone restated a “hold” rating on shares of Vonage in a research report on Friday, February 9th. Zacks Investment Research restated a “hold” rating and issued a $11.00 price target on shares of Vonage in a research report on Saturday, January 13th. Finally, Needham & Company LLC boosted their price target on Vonage from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, December 11th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Vonage presently has a consensus rating of “Buy” and a consensus price target of $10.41.
VG stock opened at $10.75 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.65 and a current ratio of 0.67. Vonage Holdings Corp. has a 52-week low of $5.98 and a 52-week high of $11.65. The stock has a market capitalization of $2,513.10, a P/E ratio of 40.70, a price-to-earnings-growth ratio of 6.04 and a beta of 0.09.
Vonage (NYSE:VG) last released its quarterly earnings results on Wednesday, February 21st. The technology company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The firm had revenue of $254.00 million during the quarter, compared to analyst estimates 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 revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS. sell-side analysts forecast that Vonage Holdings Corp. will post 0.36 earnings per share for the current fiscal year.
In related news, Director Jeffrey A. Citron sold 514,913 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $10.37, for a total value of $5,339,647.81. Following the sale, the director now owns 10,680,286 shares in the company, valued at approximately $110,754,565.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Vinod Lala sold 29,388 shares of the company’s stock in a transaction that occurred on Monday, March 19th. The stock was sold at an average price of $10.60, for a total value of $311,512.80. Following the completion of the sale, the insider now owns 22,165 shares in the company, valued at approximately $234,949. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 100,000 shares of company stock worth $21,330 and sold 2,228,591 shares worth $23,400,007. Corporate insiders own 14.05% of the company’s stock.
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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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