Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 238,303 shares of the business’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $10.07, for a total value of $2,399,711.21. Following the completion of the sale, the director now directly owns 10,680,286 shares of the company’s stock, valued at $107,550,480.02. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of Vonage Holdings Corp. (NYSE VG) traded up $0.35 on Friday, reaching $10.96. The company’s stock had a trading volume of 2,540,000 shares, compared to its average volume of 1,470,942. 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 company has a market cap of $2,426.20, a price-to-earnings ratio of 137.02, a P/E/G ratio of 6.24 and a beta of -0.05. Vonage Holdings Corp. has a 1 year low of $5.74 and a 1 year high of $11.00.
Vonage (NYSE:VG) last issued its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $253.10 million during the quarter, compared to analyst estimates of $249.02 million. Vonage had a return on equity of 11.47% and a net margin of 2.14%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. analysts expect that Vonage Holdings Corp. will post 0.28 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Parametric Portfolio Associates LLC boosted its stake in shares of Vonage by 54.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 744,774 shares of the technology company’s stock worth $4,871,000 after buying an additional 261,918 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Vonage by 15.3% in the 2nd quarter. Royal Bank of Canada now owns 6,559,655 shares of the technology company’s stock worth $42,902,000 after buying an additional 872,527 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Vonage by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 20,177,322 shares of the technology company’s stock worth $131,960,000 after buying an additional 437,370 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Vonage by 320.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 390,096 shares of the technology company’s stock worth $2,571,000 after buying an additional 297,302 shares during the last quarter. Finally, ING Groep NV purchased a new position in shares of Vonage in the 3rd quarter worth approximately $324,000. Hedge funds and other institutional investors own 83.99% of the company’s stock.
A number of analysts have commented on VG shares. Needham & Company LLC reissued a “buy” rating and set a $9.50 price objective on shares of Vonage in a report on Wednesday, September 27th. Northland Securities reissued a “buy” rating and set a $9.50 price objective on shares of Vonage in a report on Thursday, October 12th. Robert W. Baird reissued a “buy” rating and set a $9.00 price objective on shares of Vonage in a report on Friday, October 20th. Craig Hallum reissued a “buy” rating and set a $11.00 price objective (up from $10.00) on shares of Vonage in a report on Tuesday, November 7th. Finally, Citigroup reissued a “buy” rating and set a $11.00 price objective on shares of Vonage in a report on Wednesday, November 8th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Vonage has a consensus rating of “Buy” and an average 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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