Karp Capital Management Corp Takes Position in Vonage Holdings Corp. (NYSE:VG)
Karp Capital Management Corp bought a new stake in Vonage Holdings Corp. (NYSE:VG) during the first quarter, according to its most recent filing with the SEC. The institutional investor bought 19,954 shares of the technology company’s stock, valued at approximately $126,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quantitative Systematic Strategies LLC bought a new position in Vonage Holdings Corp. during the first quarter valued at about $105,000. Eqis Capital Management Inc. increased its position 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 during the last quarter. Parametrica Management Ltd bought a new position in Vonage Holdings Corp. during the first quarter valued at about $143,000. First Republic Investment Management Inc. increased its position in Vonage Holdings Corp. by 70.3% in the fourth quarter. First Republic Investment Management Inc. now owns 27,490 shares of the technology company’s stock valued at $189,000 after buying an additional 11,349 shares during the last quarter. Finally, Tudor Investment Corp Et Al bought a new position in Vonage Holdings Corp. during the fourth quarter valued at about $193,000. Hedge funds and other institutional investors own 76.82% of the company’s stock.
Shares of Vonage Holdings Corp. (NYSE:VG) traded up 0.91% during mid-day trading on Monday, hitting $7.73. 2,142,564 shares of the stock traded hands. Vonage Holdings Corp. has a one year low of $5.43 and a one year high of $7.88. The firm has a market capitalization of $1.72 billion, a P/E ratio of 126.72 and a beta of -0.01. The company’s 50 day moving average is $6.63 and its 200 day moving average is $6.59.
Vonage Holdings Corp. (NYSE:VG) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. Vonage Holdings Corp. had a net margin of 2.00% and a return on equity of 12.40%. The business had revenue of $252 million for the quarter, compared to analyst estimates of $242.05 million. During the same period last year, the firm earned $0.08 earnings per share. Vonage Holdings Corp.’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities analysts expect that Vonage Holdings Corp. will post $0.28 EPS for the current fiscal year.
Several research firms have recently issued reports on VG. Dougherty & Co dropped their price objective on shares of Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating on the stock in a report on Friday. Zacks Investment Research downgraded shares of Vonage Holdings Corp. from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Finally, William Blair restated an “outperform” rating on shares of Vonage Holdings Corp. in a report on Wednesday, May 24th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Vonage Holdings Corp. currently has a consensus rating of “Buy” and an average price target of $8.31.
In other Vonage Holdings Corp. news, Director Jeffrey A. Citron sold 414,913 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $6.77, for a total transaction of $2,808,961.01. Following the sale, the director now directly owns 12,664,157 shares in the company, valued at $85,736,342.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Mcgonigal Graham sold 44,523 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $7.25, for a total transaction of $322,791.75. Following the completion of the sale, the senior vice president now owns 145,673 shares in the company, valued at $1,056,129.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,069,375 shares of company stock worth $28,295,719. 14.05% of the stock is owned by 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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