Oppenheimer & Co. Inc. bought a new position in Vonage Holdings Corp. (NYSE:VG) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 30,530 shares of the technology company’s stock, valued at approximately $193,000.

A number of other large investors also recently made changes to their positions in VG. Quantitative Systematic Strategies LLC acquired a new stake in Vonage Holdings Corp. during the first quarter valued at $105,000. Fifth Third Bancorp boosted its stake in Vonage Holdings Corp. by 29.6% in the first quarter. Fifth Third Bancorp now owns 16,911 shares of the technology company’s stock valued at $107,000 after buying an additional 3,863 shares in the last quarter. Eqis Capital Management Inc. boosted its stake in Vonage Holdings Corp. by 19.8% in the first quarter. Eqis Capital Management Inc. now owns 19,230 shares of the technology company’s stock valued at $122,000 after buying an additional 3,176 shares in the last quarter. Karp Capital Management Corp acquired a new stake in Vonage Holdings Corp. during the first quarter valued at $126,000. Finally, Parametrica Management Ltd acquired a new stake in Vonage Holdings Corp. during the first quarter valued at $143,000. 77.35% of the stock is owned by hedge funds and other institutional investors.

Shares of Vonage Holdings Corp. (VG) traded up 4.08% on Friday, hitting $7.66. The company had a trading volume of 3,603,703 shares. Vonage Holdings Corp. has a 12-month low of $5.43 and a 12-month high of $7.88. The company has a market capitalization of $1.70 billion, a P/E ratio of 125.57 and a beta of -0.01. The firm has a 50-day moving average price of $6.63 and a 200 day moving average price of $6.59.

Vonage Holdings Corp. (NYSE:VG) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. The business had revenue of $252 million during the quarter, compared to the consensus estimate of $242.05 million. Vonage Holdings Corp. had a return on equity of 13.56% and a net margin of 1.63%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.08 EPS. Equities analysts expect that Vonage Holdings Corp. will post $0.28 EPS for the current year.

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VG has been the subject of several research reports. Zacks Investment Research raised Vonage Holdings Corp. from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Wednesday, April 19th. William Blair reissued a “buy” rating on shares of Vonage Holdings Corp. in a research report on Thursday, May 4th. Finally, Dougherty & Co reduced their price objective on Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating for the company in a research report on Friday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $8.31.

In other news, Director Jeffrey A. Citron sold 276,606 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $6.57, for a total transaction of $1,817,301.42. Following the completion of the sale, the director now directly owns 12,664,157 shares in the company, valued at approximately $83,203,511.49. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Mcgonigal Graham sold 44,523 shares of the business’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $7.25, for a total value of $322,791.75. Following the transaction, the senior vice president now directly owns 145,673 shares of the company’s stock, valued at approximately $1,056,129.25. The disclosure for this sale can be found here. Insiders sold a total of 4,069,375 shares of company stock valued at $28,295,719 over the last 90 days. 14.05% of the stock is currently owned by corporate insiders.

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.

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

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