Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 138,303 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $10.14, for a total transaction of $1,402,392.42. Following the sale, the director now owns 10,676,047 shares of the company’s stock, valued at approximately $108,255,116.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Vonage Holdings Corp. (VG) opened at $10.96 on Friday. Vonage Holdings Corp. has a one year low of $5.74 and a one year high of $11.00. The firm has a market cap of $2,506.23, a P/E ratio of 49.82, a P/E/G ratio of 6.45 and a beta of -0.05. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.51.
Vonage (NYSE:VG) last released its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.07 EPS for the quarter, meeting 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 net margin of 2.14% and a return on equity of 11.47%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 EPS. equities analysts predict that Vonage Holdings Corp. will post 0.28 earnings per share for the current fiscal year.
VG has been the subject of several research analyst reports. Robert W. Baird restated a “buy” rating and set a $11.00 price target on shares of Vonage in a research note on Wednesday, January 3rd. Craig Hallum restated a “buy” rating and set a $11.00 price target (up previously from $10.00) on shares of Vonage in a research note on Tuesday, November 7th. Zacks Investment Research upgraded shares of Vonage from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Saturday, January 6th. Citigroup reiterated a “buy” rating and issued a $11.00 price objective on shares of Vonage in a research note on Wednesday, November 8th. They noted that the move was a valuation call. Finally, Northland Securities reiterated a “buy” rating and issued a $9.50 price objective on shares of Vonage in a research note on Thursday, October 12th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $10.30.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. World Asset Management Inc purchased a new position in shares of Vonage during the 3rd quarter valued at $112,000. Bayesian Capital Management LP purchased a new position in shares of Vonage during the 2nd quarter valued at $118,000. CIBC Asset Management Inc purchased a new position in shares of Vonage during the 3rd quarter valued at $148,000. Aperio Group LLC grew its position in shares of Vonage by 2.2% during the 2nd quarter. Aperio Group LLC now owns 20,387 shares of the technology company’s stock valued at $133,000 after purchasing an additional 433 shares in the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Vonage during the 3rd quarter valued at $177,000. Hedge funds and other institutional investors own 83.99% of the company’s stock.
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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