Pier Capital LLC cut its holdings in shares of Vonage Holdings Corp. (NYSE:VG) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 683,739 shares of the technology company’s stock after selling 35,078 shares during the period. Vonage makes up 1.2% of Pier Capital LLC’s holdings, making the stock its 17th biggest holding. Pier Capital LLC owned 0.30% of Vonage worth $6,954,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Vonage by 87.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,788 shares of the technology company’s stock worth $100,000 after purchasing an additional 4,569 shares in the last quarter. LS Investment Advisors LLC grew its position in Vonage by 83.5% in the 4th quarter. LS Investment Advisors LLC now owns 12,490 shares of the technology company’s stock worth $127,000 after purchasing an additional 5,683 shares in the last quarter. Bank of Montreal Can grew its position in Vonage by 103.4% in the 4th quarter. Bank of Montreal Can now owns 12,948 shares of the technology company’s stock worth $131,000 after purchasing an additional 6,581 shares in the last quarter. Fortaleza Asset Management Inc. bought a new stake in Vonage in the 4th quarter worth about $142,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in Vonage in the 4th quarter worth about $146,000. 86.26% of the stock is owned by institutional investors.
VG has been the subject of a number of recent analyst reports. ValuEngine raised shares of Vonage from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research raised shares of Vonage from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Saturday, January 6th. Robert W. Baird reissued a “buy” rating and set a $11.00 target price on shares of Vonage in a research 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 research report on Monday, December 11th. Finally, Summit Redstone reissued a “hold” rating on shares of Vonage in a research report on Friday, February 9th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Vonage presently has an average rating of “Buy” and an average price target of $10.41.
Vonage stock opened at $10.75 on Monday. Vonage Holdings Corp. has a 52-week low of $5.98 and a 52-week high of $11.65. The firm has a market cap of $2,458.22, a P/E ratio of 39.81, a PEG ratio of 5.91 and a beta of 0.09. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.65 and a current ratio of 0.67.
Vonage (NYSE:VG) last released its earnings results on Wednesday, February 21st. The technology company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.01). The company had revenue of $254.00 million for the quarter, compared to the consensus estimate of $254.19 million. Vonage had a negative net margin of 3.39% and a positive return on equity of 14.13%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 earnings per share. sell-side analysts anticipate that Vonage Holdings Corp. will post 0.36 earnings per share for the current fiscal year.
In related news, CEO Alan Masarek sold 487,703 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $10.34, for a total transaction of $5,042,849.02. Following the sale, the chief executive officer now directly owns 983,423 shares in the company, valued at approximately $10,168,593.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey A. Citron sold 233,332 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $10.91, for a total transaction of $2,545,652.12. Following the sale, the director now owns 12,243,391 shares in the company, valued at $133,575,395.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 100,000 shares of company stock worth $21,330 and have sold 2,731,274 shares worth $28,487,141. Corporate insiders own 14.05% of the company’s stock.
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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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