Insider Selling: Vonage Holdings Corp. (VG) Director Sells 330,516 Shares of Stock

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.

Insider Buying and Selling by Quarter for Vonage Holdings Corp. (NYSE:VG)

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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.

12 Month Chart for NYSE:VG

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