Vonage Holdings Corp. (VG) Shares Sold by Bank of Montreal Can

Bank of Montreal Can reduced its stake in shares of Vonage Holdings Corp. (NYSE:VG) by 24.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,868 shares of the technology company’s stock after selling 4,438 shares during the period. Bank of Montreal Can’s holdings in Vonage were worth $120,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System lifted its stake in shares of Vonage by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 319,044 shares of the technology company’s stock valued at $4,518,000 after purchasing an additional 4,458 shares during the last quarter. Stone Ridge Asset Management LLC lifted its stake in shares of Vonage by 6.7% in the 3rd quarter. Stone Ridge Asset Management LLC now owns 75,975 shares of the technology company’s stock valued at $1,076,000 after purchasing an additional 4,768 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in shares of Vonage by 32.1% in the 3rd quarter. Riverhead Capital Management LLC now owns 23,483 shares of the technology company’s stock valued at $333,000 after purchasing an additional 5,700 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Vonage by 14.9% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 52,505 shares of the technology company’s stock valued at $743,000 after purchasing an additional 6,790 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of Vonage by 6.5% in the 3rd quarter. Bessemer Group Inc. now owns 148,500 shares of the technology company’s stock valued at $2,103,000 after purchasing an additional 9,100 shares during the last quarter. Institutional investors and hedge funds own 85.60% of the company’s stock.

In other news, Director Jeffrey A. Citron sold 83,334 shares of the business’s stock in a transaction dated Monday, January 7th. The shares were sold at an average price of $8.95, for a total transaction of $745,839.30. Following the transaction, the director now owns 8,558,801 shares in the company, valued at approximately $76,601,268.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey A. Citron sold 133,332 shares of the business’s stock in a transaction dated Monday, December 17th. The stock was sold at an average price of $9.28, for a total transaction of $1,237,320.96. Following the transaction, the director now owns 8,553,862 shares in the company, valued at approximately $79,379,839.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 699,998 shares of company stock valued at $6,414,648. Company insiders own 8.70% of the company’s stock.

Vonage stock opened at $10.28 on Friday. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 8.81 and a beta of 0.59. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.61 and a quick ratio of 0.74. Vonage Holdings Corp. has a fifty-two week low of $7.91 and a fifty-two week high of $14.73.

Vonage (NYSE:VG) last released its earnings results on Thursday, February 21st. The technology company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.02). The firm had revenue of $273.80 million for the quarter, compared to analyst estimates of $274.64 million. Vonage had a return on equity of 15.33% and a net margin of 3.41%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 EPS. Equities analysts forecast that Vonage Holdings Corp. will post 0.21 earnings per share for the current fiscal year.

Several equities research analysts recently issued reports on VG shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Vonage in a research note on Monday, January 7th. Stephens began coverage on shares of Vonage in a research report on Thursday, January 3rd. They set an “overweight” rating and a $14.00 target price for the company. Zacks Investment Research raised shares of Vonage from a “sell” rating to a “hold” rating in a research report on Saturday, January 26th. ValuEngine lowered shares of Vonage from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 1st. Finally, Dougherty & Co reissued a “buy” rating and set a $19.00 target price on shares of Vonage in a research report on Thursday, November 29th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $15.40.

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Vonage Company Profile

Vonage Holdings Corp. provides communications services connecting people through cloud-connected devices worldwide. It offers various business services, including basic dial tone, call queue, conferencing, call groups, mobile functionality, CRM integration, and detailed analytics, as well as Vonage Business Cloud and Vonage Enterprise services.

Further Reading: Book Value Per Share in Stock Trading

Institutional Ownership by Quarter for Vonage (NYSE:VG)

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