30,530 Shares in Vonage Holdings Corp. (VG) Acquired by Oppenheimer & Co. Inc.
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.
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.
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