Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 514,913 shares of the stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $10.37, for a total transaction of $5,339,647.81. Following the transaction, the director now directly owns 10,680,286 shares of the company’s stock, valued at $110,754,565.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Vonage Holdings Corp. (VG) opened at $10.96 on Friday. Vonage Holdings Corp. has a 1-year low of $5.74 and a 1-year high of $11.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.64 and a quick ratio of 0.63. The stock has a market cap of $2,426.20, a PE ratio of 137.02, a price-to-earnings-growth ratio of 6.24 and a beta of -0.05.
Vonage (NYSE:VG) last issued its earnings results on Tuesday, November 7th. The technology company reported $0.07 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.07. Vonage had a net margin of 2.14% and a return on equity of 11.47%. The company had revenue of $253.10 million during the quarter, compared to analysts’ expectations of $249.02 million. During the same period last year, the company posted $0.09 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. equities research analysts anticipate that Vonage Holdings Corp. will post 0.28 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the company. Parametric Portfolio Associates LLC increased its stake in shares of Vonage by 54.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 744,774 shares of the technology company’s stock worth $4,871,000 after purchasing an additional 261,918 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Vonage by 15.3% during the 2nd quarter. Royal Bank of Canada now owns 6,559,655 shares of the technology company’s stock worth $42,902,000 after purchasing an additional 872,527 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Vonage by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 20,177,322 shares of the technology company’s stock worth $131,960,000 after purchasing an additional 437,370 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Vonage by 320.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 390,096 shares of the technology company’s stock worth $2,571,000 after purchasing an additional 297,302 shares in the last quarter. Finally, ING Groep NV purchased a new position in shares of Vonage during the 3rd quarter worth approximately $324,000. 83.99% of the stock is owned by institutional investors and hedge funds.
VG has been the subject of a number of research analyst reports. Zacks Investment Research reaffirmed a “hold” rating and issued a $11.00 target price on shares of Vonage in a report on Saturday. Robert W. Baird reaffirmed a “buy” rating and issued a $11.00 target price on shares of Vonage in a report on Wednesday, January 3rd. Needham & Company LLC increased their target price on shares of Vonage from $10.00 to $12.00 and gave the company a “buy” rating in a report on Monday, December 11th. Oppenheimer increased their target price on shares of Vonage from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Thursday, November 9th. Finally, Citigroup reaffirmed a “buy” rating and issued a $11.00 target price on shares of Vonage in a report on Wednesday, November 8th. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Vonage currently has a consensus rating of “Buy” and a consensus price target of $10.30.
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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.
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