Vonage Holdings Corp. (VG) Stake Increased by Swiss National Bank

Swiss National Bank boosted its stake in Vonage Holdings Corp. (NYSE:VG) by 2.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 320,500 shares of the technology company’s stock after buying an additional 8,500 shares during the period. Swiss National Bank owned 0.15% of Vonage Holdings Corp. worth $2,026,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in VG. Dimensional Fund Advisors LP boosted its stake in Vonage Holdings Corp. by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,895,997 shares of the technology company’s stock valued at $47,238,000 after buying an additional 83,343 shares during the period. First Trust Advisors LP boosted its stake in Vonage Holdings Corp. by 23.0% in the first quarter. First Trust Advisors LP now owns 6,400,018 shares of the technology company’s stock valued at $40,448,000 after buying an additional 1,197,141 shares during the period. State Street Corp boosted 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 during the period. Norges Bank purchased a new stake in Vonage Holdings Corp. during the fourth quarter valued at approximately $19,387,000. Finally, Shell Asset Management Co. boosted its stake in Vonage Holdings Corp. by 8.7% in the first quarter. Shell Asset Management Co. now owns 2,007,164 shares of the technology company’s stock valued at $12,685,000 after buying an additional 159,876 shares during the period. Institutional investors own 78.09% of the company’s stock.

Institutional Ownership by Quarter for Vonage Holdings Corp. (NYSE:VG)

Vonage Holdings Corp. (NYSE VG) opened at 6.61 on Friday. Vonage Holdings Corp. has a one year low of $5.34 and a one year high of $7.88. The stock has a market cap of $1.47 billion, a P/E ratio of 108.36 and a beta of 0.03. The stock has a 50 day moving average of $6.87 and a 200-day moving average of $6.70.

Vonage Holdings Corp. (NYSE:VG) last posted its quarterly earnings data on Tuesday, May 9th. The technology company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. The business had revenue of $243.30 million during the quarter, compared to the consensus estimate of $242.40 million. Vonage Holdings Corp. had a net margin of 1.63% and a return on equity of 13.56%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.11 earnings per share. Analysts anticipate that Vonage Holdings Corp. will post $0.27 EPS for the current year.

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VG has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Vonage Holdings Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, April 20th. William Blair restated an “outperform” rating on shares of Vonage Holdings Corp. in a research note on Wednesday, May 24th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Vonage Holdings Corp. has an average rating of “Buy” and an average price target of $8.13.

In related news, CFO David T. Pearson sold 666,666 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $7.00, for a total value of $4,666,662.00. Following the completion of the sale, the chief financial officer now owns 948,241 shares of the company’s stock, valued at $6,637,687. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David T. Pearson sold 2,000,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $7.00, for a total transaction of $14,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 948,241 shares of the company’s stock, valued at approximately $6,637,687. The disclosure for this sale can be found here. Insiders sold 4,484,891 shares of company stock valued at $31,029,473 in the last ninety days. Corporate insiders own 14.59% of the company’s stock.

Vonage Holdings Corp. 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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