Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 500,000 shares of the stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $6.59, for a total transaction of $3,295,000.00. Following the transaction, the director now directly owns 12,651,039 shares of the company’s stock, valued at approximately $83,370,347.01. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Shares of Vonage Holdings Corp. (NYSE:VG) traded down 1.06% on Friday, hitting $6.53. 880,635 shares of the company were exchanged. The stock has a market capitalization of $1.42 billion, a PE ratio of 72.56 and a beta of 0.35. Vonage Holdings Corp. has a 52-week low of $3.82 and a 52-week high of $7.57. The firm’s 50-day moving average is $6.48 and its 200-day moving average is $5.74.

Vonage Holdings Corp. (NYSE:VG) last released its quarterly earnings data on Wednesday, October 26th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.04. Vonage Holdings Corp. had a net margin of 2.27% and a return on equity of 17.99%. The company earned $248.40 million during the quarter, compared to analysts’ expectations of $246.92 million. During the same quarter in the previous year, the company earned $0.07 earnings per share. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. Equities research analysts predict that Vonage Holdings Corp. will post $0.33 earnings per share for the current year.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. boosted its position in Vonage Holdings Corp. by 105.9% in the first quarter. Prudential Financial Inc. now owns 472,355 shares of the company’s stock worth $2,158,000 after buying an additional 242,898 shares during the last quarter. BlackRock Group LTD boosted its position in Vonage Holdings Corp. by 181.2% in the first quarter. BlackRock Group LTD now owns 175,857 shares of the company’s stock worth $804,000 after buying an additional 113,330 shares during the last quarter. BlackRock Fund Advisors boosted its position in Vonage Holdings Corp. by 2.8% in the first quarter. BlackRock Fund Advisors now owns 8,118,854 shares of the company’s stock worth $37,103,000 after buying an additional 218,425 shares during the last quarter. Springbok Capital Management LLC boosted its position in Vonage Holdings Corp. by 22.3% in the first quarter. Springbok Capital Management LLC now owns 36,700 shares of the company’s stock worth $168,000 after buying an additional 6,700 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its position in Vonage Holdings Corp. by 3.2% in the first quarter. Panagora Asset Management Inc. now owns 1,592,615 shares of the company’s stock worth $7,278,000 after buying an additional 49,805 shares during the last quarter. 72.78% of the stock is owned by institutional investors.

VG has been the subject of several research reports. Dougherty & Co increased their price objective on shares of Vonage Holdings Corp. from $6.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, August 3rd. Needham & Company LLC increased their price objective on shares of Vonage Holdings Corp. from $8.00 to $9.00 and gave the company a “buy” rating in a report on Monday, September 26th. Zacks Investment Research raised shares of Vonage Holdings Corp. from a “hold” rating to a “buy” rating and set a $7.25 price objective for the company in a report on Thursday, October 6th. TheStreet downgraded shares of Vonage Holdings Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. Finally, William Blair reissued an “outperform” rating on shares of Vonage Holdings Corp. in a report on Friday, September 23rd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Vonage Holdings Corp. currently has an average rating of “Buy” and a consensus target price of $7.75.

About Vonage Holdings Corp.

Vonage Holdings Corp. is a provider of cloud communications services for businesses and consumers, and consumer and business communication solutions across multiple devices. 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.

5 Day Chart for NYSE:VG

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