Suntrust Banks Inc. increased its holdings in shares of Vonage Holdings Corp. (NYSE:VG) by 2.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,971 shares of the technology company’s stock after acquiring an additional 807 shares during the quarter. Suntrust Banks Inc.’s holdings in Vonage Holdings Corp. were worth $209,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Vonage Holdings Corp. by 2.2% during the second quarter. Vanguard Group Inc. now owns 20,177,322 shares of the technology company’s stock worth $131,960,000 after acquiring an additional 437,370 shares during the period. BlackRock Inc. increased its position in Vonage Holdings Corp. by 36,952.8% during the first quarter. BlackRock Inc. now owns 15,753,734 shares of the technology company’s stock worth $99,564,000 after acquiring an additional 15,711,217 shares during the period. Alliancebernstein L.P. increased its position in Vonage Holdings Corp. by 0.3% during the second quarter. Alliancebernstein L.P. now owns 9,899,093 shares of the technology company’s stock worth $64,740,000 after acquiring an additional 32,532 shares during the period. First Trust Advisors LP increased its position in Vonage Holdings Corp. by 12.2% during the second quarter. First Trust Advisors LP now owns 7,180,454 shares of the technology company’s stock worth $46,960,000 after acquiring an additional 780,436 shares during the period. Finally, State Street Corp increased its position in Vonage Holdings Corp. by 2.9% during the first quarter. State Street Corp now owns 4,087,969 shares of the technology company’s stock worth $25,833,000 after acquiring an additional 114,336 shares during the period. 79.57% of the stock is currently owned by institutional investors and hedge funds.

Vonage Holdings Corp. (NYSE:VG) opened at 8.14 on Thursday. The firm has a 50-day moving average of $8.15 and a 200 day moving average of $7.22. Vonage Holdings Corp. has a 12-month low of $5.74 and a 12-month high of $8.69. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 101.75 and a beta of -0.11.

Vonage Holdings Corp. (NYSE:VG) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.06 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. Vonage Holdings Corp. had a return on equity of 12.40% and a net margin of 2.00%. The firm had revenue of $252.00 million for the quarter, compared to analysts’ expectations of $242.05 million. During the same period in the prior year, the business posted $0.08 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. Analysts expect that Vonage Holdings Corp. will post $0.27 EPS for the current fiscal year.

A number of equities analysts recently commented on VG shares. Northland Securities reaffirmed a “buy” rating and set a $9.50 price target on shares of Vonage Holdings Corp. in a research report on Tuesday, September 5th. Robert W. Baird reaffirmed a “buy” rating and set a $9.00 price target on shares of Vonage Holdings Corp. in a research report on Friday, September 1st. Citigroup Inc. reaffirmed a “buy” rating and set a $9.75 price target on shares of Vonage Holdings Corp. in a research report on Wednesday, September 13th. Zacks Investment Research lowered shares of Vonage Holdings Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Finally, Dougherty & Co lowered their price target on shares of Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating on the stock in a research report on Friday, August 4th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $9.16.

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In other news, Director Jeffrey A. Citron sold 414,913 shares of the company’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $7.99, for a total transaction of $3,315,154.87. Following the sale, the director now directly owns 12,670,751 shares in the company, valued at $101,239,300.49. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO David T. Pearson sold 198,350 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $8.07, for a total value of $1,600,684.50. Following the sale, the chief financial officer now owns 216,119 shares in the company, valued at $1,744,080.33. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,028,176 shares of company stock worth $8,280,784. Company insiders own 14.05% of the company’s stock.

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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