Formula Growth Ltd. lowered its stake in shares of Vonage Holdings Corp. (NYSE:VG) by 86.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 151,220 shares of the technology company’s stock after selling 978,780 shares during the period. Formula Growth Ltd. owned about 0.07% of Vonage worth $1,231,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC boosted its position in Vonage by 54.2% during the second quarter. Parametric Portfolio Associates LLC now owns 744,774 shares of the technology company’s stock worth $4,871,000 after acquiring an additional 261,918 shares during the last quarter. First Washington CORP acquired a new position in Vonage during the second quarter worth about $2,446,000. Pier Capital LLC acquired a new position in Vonage during the second quarter worth about $5,348,000. Federated Investors Inc. PA boosted its position in Vonage by 13.9% during the second quarter. Federated Investors Inc. PA now owns 2,004,456 shares of the technology company’s stock worth $13,109,000 after acquiring an additional 243,979 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Vonage by 15.3% during the second quarter. Royal Bank of Canada now owns 6,559,655 shares of the technology company’s stock worth $42,902,000 after acquiring an additional 872,527 shares during the last quarter. 84.06% of the stock is owned by institutional investors and hedge funds.

Vonage Holdings Corp. (NYSE VG) traded up $0.14 during trading hours on Friday, reaching $10.32. 1,880,000 shares of the company’s stock traded hands, compared to its average volume of 2,078,222. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.51. The firm has a market cap of $2,327.87, a price-to-earnings ratio of 46.27, a price-to-earnings-growth ratio of 7.22 and a beta of -0.06. Vonage Holdings Corp. has a 12 month low of $5.74 and a 12 month high of $10.33.

Vonage (NYSE:VG) last posted its earnings results on Tuesday, November 7th. The technology company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $253.10 million for the quarter, compared to analyst estimates of $249.02 million. Vonage had a net margin of 2.14% and a return on equity of 11.47%. Vonage’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 EPS. sell-side analysts anticipate that Vonage Holdings Corp. will post 0.28 EPS for the current year.

A number of equities analysts recently weighed in on VG shares. Zacks Investment Research upgraded shares of Vonage from a “hold” rating to a “buy” rating and set a $9.75 price target on the stock in a research report on Saturday, November 11th. Northland Securities restated a “buy” rating and set a $9.50 price target on shares of Vonage in a research report on Tuesday, September 5th. Robert W. Baird restated a “buy” rating and set a $9.00 price target on shares of Vonage in a research report on Friday, September 1st. Citigroup restated a “buy” rating and set a $9.75 price target on shares of Vonage in a research report on Wednesday, September 13th. Finally, Dougherty & Co lowered their price target on shares of Vonage from $10.50 to $8.50 and set a “buy” rating on the stock in a research report on Friday, August 4th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Vonage presently has an average rating of “Buy” and a consensus price target of $9.72.

In other Vonage news, insider Edward M. Gilvar sold 17,778 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $9.76, for a total value of $173,513.28. Following the transaction, the insider now directly owns 29,199 shares in the company, valued at approximately $284,982.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey A. Citron sold 414,913 shares of the business’s stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $8.12, for a total transaction of $3,369,093.56. Following the completion of the transaction, the director now owns 12,676,047 shares in the company, valued at $102,929,501.64. The disclosure for this sale can be found here. Insiders sold a total of 1,539,123 shares of company stock worth $12,962,492 over the last quarter. 14.05% of the stock is currently owned by company insiders.

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Vonage 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.

Institutional Ownership by Quarter for Vonage (NYSE:VG)

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