Vonage Holdings Corp. (NYSE:VG) SVP Valerie Kahn sold 9,826 shares of the firm’s stock in a transaction that occurred on Tuesday, March 20th. The stock was sold at an average price of $10.81, for a total transaction of $106,219.06. Following the completion of the transaction, the senior vice president now directly owns 15,601 shares in the company, valued at $168,646.81. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Shares of Vonage stock traded up $0.02 during midday trading on Thursday, hitting $10.99. 1,677,847 shares of the stock were exchanged, compared to its average volume of 1,947,023. The firm has a market cap of $2,501.66, a P/E ratio of 40.52, a P/E/G ratio of 6.01 and a beta of 0.09. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.67 and a quick ratio of 0.65. Vonage Holdings Corp. has a fifty-two week low of $5.98 and a fifty-two week high of $11.65.
Vonage (NYSE:VG) last announced its quarterly earnings results on Wednesday, February 21st. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.01). The firm had revenue of $254.00 million for the quarter, compared to analyst estimates of $254.19 million. Vonage had a positive return on equity of 14.13% and a negative net margin of 3.39%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.03 EPS. equities research analysts forecast that Vonage Holdings Corp. will post 0.36 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Vonage by 0.9% during the 4th quarter. BlackRock Inc. now owns 28,008,139 shares of the technology company’s stock worth $284,843,000 after buying an additional 261,883 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Vonage by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,984,257 shares of the technology company’s stock valued at $56,853,000 after purchasing an additional 22,698 shares during the last quarter. First Trust Advisors LP increased its holdings in Vonage by 0.3% in the 4th quarter. First Trust Advisors LP now owns 6,503,508 shares of the technology company’s stock valued at $66,141,000 after purchasing an additional 16,551 shares during the last quarter. Millennium Management LLC increased its holdings in Vonage by 92.3% in the 4th quarter. Millennium Management LLC now owns 2,989,008 shares of the technology company’s stock valued at $30,398,000 after purchasing an additional 1,435,026 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Vonage by 103.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,674,457 shares of the technology company’s stock valued at $21,769,000 after purchasing an additional 1,360,141 shares during the last quarter. Institutional investors and hedge funds own 86.26% of the company’s stock.
A number of research analysts have weighed in on the stock. ValuEngine raised shares of Vonage from a “hold” rating to a “buy” rating in a research note 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 on the stock in a research note on Saturday, January 6th. Robert W. Baird reissued an “outperform” rating and issued a $12.00 target price (up from $11.00) on shares of Vonage in a research note on Thursday, February 22nd. Summit Redstone restated a “hold” rating on shares of Vonage in a report on Friday, February 9th. Finally, Needham & Company LLC raised their price target on shares of Vonage from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, December 11th. Three 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.
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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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