Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 330,516 shares of the stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $6.50, for a total transaction of $2,148,354.00. Following the completion of the transaction, the director now owns 12,664,157 shares of the company’s stock, valued at approximately $82,317,020.50. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Vonage Holdings Corp. (NYSE:VG) opened at 6.45 on Friday. The stock has a 50 day moving average of $6.50 and a 200 day moving average of $6.63. Vonage Holdings Corp. has a 52 week low of $4.18 and a 52 week high of $7.88. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 105.74 and a beta of 0.25.
Vonage Holdings Corp. (NYSE:VG) last released its quarterly earnings results on Tuesday, May 9th. The technology company reported $0.06 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. Vonage Holdings Corp. had a return on equity of 17.99% and a net margin of 2.27%. The company had revenue of $243.30 million for the quarter, compared to analyst estimates of $242.40 million. During the same period in the previous year, the company posted $0.11 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. Equities research analysts predict that Vonage Holdings Corp. will post $0.27 earnings per share for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in Vonage Holdings Corp. by 9.4% in the fourth quarter. State Street Corp now owns 3,973,633 shares of the technology company’s stock valued at $27,220,000 after buying an additional 341,265 shares in the last quarter. Argent Capital Management LLC increased its stake in Vonage Holdings Corp. by 63.7% in the third quarter. Argent Capital Management LLC now owns 443,925 shares of the technology company’s stock valued at $2,934,000 after buying an additional 172,700 shares during the period. Marshall Wace LLP increased its stake in Vonage Holdings Corp. by 103.4% in the fourth quarter. Marshall Wace LLP now owns 498,349 shares of the technology company’s stock valued at $3,414,000 after buying an additional 253,298 shares during the period. Emerald Mutual Fund Advisers Trust increased its stake in Vonage Holdings Corp. by 3.0% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 4,724,894 shares of the technology company’s stock valued at $31,232,000 after buying an additional 139,046 shares during the period. Finally, United Services Automobile Association increased its stake in Vonage Holdings Corp. by 178.8% in the third quarter. United Services Automobile Association now owns 599,800 shares of the technology company’s stock valued at $3,965,000 after buying an additional 384,700 shares during the period. Institutional investors own 77.13% of the company’s stock.
VG has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Vonage Holdings Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, February 9th. William Blair reissued an “outperform” rating on shares of Vonage Holdings Corp. in a report on Monday, March 6th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $8.13.
About Vonage Holdings Corp.
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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