Emancipation Management LLC Has $270,000 Position in Vonage Holdings Corp. (VG)

Emancipation Management LLC decreased its position in Vonage Holdings Corp. (NYSE:VG) by 86.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 41,300 shares of the technology company’s stock after selling 256,100 shares during the quarter. Emancipation Management LLC’s holdings in Vonage Holdings Corp. were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in VG. BlackRock Inc. raised its stake in Vonage Holdings Corp. by 36,952.8% in the 1st quarter. BlackRock Inc. now owns 15,753,734 shares of the technology company’s stock valued at $99,564,000 after purchasing an additional 15,711,217 shares during the last quarter. Alliancebernstein L.P. raised its stake in Vonage Holdings Corp. by 998.4% in the 1st quarter. Alliancebernstein L.P. now owns 9,866,561 shares of the technology company’s stock valued at $62,357,000 after purchasing an additional 8,968,261 shares during the last quarter. Wellington Management Group LLP raised its stake in Vonage Holdings Corp. by 16.9% in the 1st quarter. Wellington Management Group LLP now owns 17,507,400 shares of the technology company’s stock valued at $110,647,000 after purchasing an additional 2,533,213 shares during the last quarter. Rubric Capital Management LP acquired a new position in Vonage Holdings Corp. in the 2nd quarter valued at about $15,696,000. Finally, Vanguard Group Inc. raised its stake in Vonage Holdings Corp. by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 19,739,952 shares of the technology company’s stock valued at $124,757,000 after purchasing an additional 1,741,500 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Shares of Vonage Holdings Corp. (NYSE:VG) traded down 0.193% on Tuesday, reaching $7.755. 1,277,636 shares of the company traded hands. The company has a market capitalization of $1.76 billion, a PE ratio of 96.938 and a beta of -0.09. The firm has a 50-day moving average of $7.77 and a 200-day moving average of $6.84. Vonage Holdings Corp. has a 52-week low of $5.74 and a 52-week high of $8.50.

Vonage Holdings Corp. (NYSE:VG) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $252.00 million during the quarter, compared to the consensus estimate of $242.05 million. Vonage Holdings Corp. had a return on equity of 12.40% and a net margin of 2.00%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.08 EPS. On average, equities research analysts forecast that Vonage Holdings Corp. will post $0.27 earnings per share for the current fiscal year.

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In related news, CFO David T. Pearson sold 2,000,000 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $7.00, for a total value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David T. Pearson sold 198,350 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $8.07, for a total value of $1,600,684.50. Following the completion of the sale, the chief financial officer now directly owns 216,119 shares of the company’s stock, valued at $1,744,080.33. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,028,176 shares of company stock valued at $21,774,590. Company insiders own 14.05% of the company’s stock.

Several research analysts recently weighed in on VG shares. Northland Securities reissued a “buy” rating and issued a $9.50 target price on shares of Vonage Holdings Corp. in a research note on Tuesday, September 5th. Robert W. Baird reissued a “buy” rating and issued a $9.00 target price on shares of Vonage Holdings Corp. in a research note on Friday, September 1st. BidaskClub raised shares of Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Dougherty & Co cut their target price on shares of Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating for the company in a research note on Friday, August 4th. Finally, Zacks Investment Research raised shares of Vonage Holdings Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $8.74.

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.

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

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