Vonage Holdings Corp. (VG) Director Jeffrey A. Citron Sells 330,516 Shares
Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 330,516 shares of Vonage Holdings Corp. stock in a transaction dated Thursday, April 20th. The stock was sold at an average price of $6.50, for a total value of $2,148,354.00. Following the completion of the sale, the director now owns 12,664,157 shares in the company, valued at $82,317,020.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of Vonage Holdings Corp. (NYSE:VG) traded down 1.23% on Friday, hitting $6.40. The stock had a trading volume of 480,955 shares. Vonage Holdings Corp. has a one year low of $3.82 and a one year high of $7.88. The company’s 50 day moving average is $6.22 and its 200 day moving average is $6.60. The stock has a market cap of $1.41 billion, a PE ratio of 80.00 and a beta of 0.25.
Vonage Holdings Corp. (NYSE:VG) last posted its earnings results on Tuesday, February 14th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $247 million for the quarter, compared to analyst estimates of $247.59 million. Vonage Holdings Corp. had a net margin of 2.27% and a return on equity of 17.99%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 earnings per share. Equities research analysts predict that Vonage Holdings Corp. will post $0.28 EPS for the current fiscal year.
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Several hedge funds have recently modified their holdings of the company. Teachers Advisors LLC raised its stake in shares of Vonage Holdings Corp. by 13.1% in the third quarter. Teachers Advisors LLC now owns 2,895,648 shares of the technology company’s stock worth $19,140,000 after buying an additional 336,192 shares in the last quarter. New York State Common Retirement Fund raised its stake in Vonage Holdings Corp. by 4.1% in the third quarter. New York State Common Retirement Fund now owns 262,743 shares of the technology company’s stock worth $1,737,000 after buying an additional 10,373 shares in the last quarter. BlackRock Inc. raised its stake in Vonage Holdings Corp. by 224.5% in the third quarter. BlackRock Inc. now owns 163,137 shares of the technology company’s stock worth $1,079,000 after buying an additional 112,864 shares in the last quarter. BlackRock Investment Management LLC raised its stake in Vonage Holdings Corp. by 0.5% in the third quarter. BlackRock Investment Management LLC now owns 784,072 shares of the technology company’s stock worth $5,183,000 after buying an additional 3,971 shares in the last quarter. Finally, Monashee Investment Management LLC raised its stake in Vonage Holdings Corp. by 21.2% in the third quarter. Monashee Investment Management LLC now owns 115,100 shares of the technology company’s stock worth $761,000 after buying an additional 20,100 shares in the last quarter. 77.13% of the stock is owned by institutional investors.
Several research firms recently issued reports on VG. Zacks Investment Research cut Vonage Holdings Corp. from a “buy” rating to a “hold” rating in a report on Thursday. William Blair reiterated an “outperform” rating on shares of Vonage Holdings Corp. in a report on Monday, March 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price objective on shares of Vonage Holdings Corp. in a report on Friday, January 13th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Vonage Holdings Corp. has a consensus rating of “Buy” and a consensus price target of $8.00.
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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