Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $11.43, for a total transaction of $2,857,500.00. Following the transaction, the director now owns 8,702,829 shares in the company, valued at $99,473,335.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
VG stock traded up $0.03 during trading hours on Friday, reaching $11.58. The stock had a trading volume of 101,965 shares, compared to its average volume of 2,915,587. The stock has a market cap of $2.78 billion, a P/E ratio of 36.19, a P/E/G ratio of 11.24 and a beta of 0.60. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.66 and a quick ratio of 0.66. 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 posted its earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The company had revenue of $280.00 million during the quarter, compared to analysts’ expectations of $277.82 million. Vonage had a net margin of 0.99% and a return on equity of 12.11%. Vonage’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 EPS. As a group, equities research analysts anticipate that Vonage Holdings Corp. will post 0.2 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Vonage by 2.4% during the fourth quarter. BlackRock Inc. now owns 32,275,483 shares of the technology company’s stock worth $281,766,000 after acquiring an additional 756,455 shares during the period. First Trust Advisors LP increased its position in Vonage by 2.5% during the first quarter. First Trust Advisors LP now owns 8,786,159 shares of the technology company’s stock worth $88,213,000 after acquiring an additional 217,289 shares during the period. Dimensional Fund Advisors LP increased its position in Vonage by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,776,828 shares of the technology company’s stock worth $59,161,000 after acquiring an additional 111,267 shares during the period. J. Goldman & Co LP bought a new position in Vonage during the first quarter worth about $37,372,000. Finally, Norges Bank bought a new position in Vonage during the fourth quarter worth about $31,218,000. Institutional investors own 84.33% of the company’s stock.
VG has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Vonage from a “hold” rating to a “sell” rating in a research note on Saturday, February 2nd. Guggenheim initiated coverage on shares of Vonage in a research note on Monday, March 11th. They issued a “neutral” rating and a $10.00 price target for the company. Stephens reiterated a “buy” rating on shares of Vonage in a research note on Monday, April 29th. Finally, Summit Insights reiterated a “hold” rating on shares of Vonage in a research note on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Vonage presently has a consensus rating of “Buy” and an average target price of $14.80.
Vonage Holdings Corp. provides cloud communications services for businesses and consumers. It operates through two segments, Business and Consumer. The Business segment offers cloud-based Unified Communications as a Service solutions, such as integrated voice, text, video, data, collaboration, contact center, and mobile applications through flexible, scalable Session Initiation protocol based VoIP network; Communications Platform as a Service solutions to developers designed to enhance the businesses communicate with customers by embedding communications into apps, Websites, and business processes; and Vonage Business Cloud and Vonage Enterprise services.
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