Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 414,913 shares of Vonage Holdings Corp. stock in a transaction dated Thursday, March 23rd. The stock was sold at an average price of $6.45, for a total transaction of $2,676,188.85. Following the sale, the director now owns 12,657,334 shares of the company’s stock, valued at $81,639,804.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of Vonage Holdings Corp. (NYSE:VG) opened at 6.22 on Tuesday. The stock has a market capitalization of $1.37 billion, a P/E ratio of 77.75 and a beta of 0.25. Vonage Holdings Corp. has a one year low of $3.82 and a one year high of $7.88. The stock’s 50 day moving average is $6.30 and its 200-day moving average is $6.62.
Vonage Holdings Corp. (NYSE:VG) last posted its quarterly earnings data on Tuesday, February 14th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by $0.02. The company earned $247 million during the quarter, compared to analyst estimates of $247.59 million. Vonage Holdings Corp. had a return on equity of 17.99% and a net margin of 2.27%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 EPS. On average, equities research analysts expect that Vonage Holdings Corp. will post $0.28 EPS for the current year.
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A number of equities research analysts have recently commented on VG shares. Zacks Investment Research upgraded shares of Vonage Holdings Corp. from a “sell” rating to a “hold” rating in a report on Saturday, February 18th. William Blair reiterated an “outperform” rating on shares of Vonage Holdings Corp. in a report on Monday, March 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $9.00 price target on shares of Vonage Holdings Corp. in a report on Friday, January 13th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Vonage Holdings Corp. presently has an average rating of “Buy” and a consensus price target of $8.04.
A number of large investors have recently bought and sold shares of VG. Argent Capital Management LLC increased its stake in Vonage Holdings Corp. by 63.7% in the third quarter. Argent Capital Management LLC now owns 443,925 shares of the company’s stock valued at $2,934,000 after buying an additional 172,700 shares during the last quarter. Marshall Wace LLP increased its stake in Vonage Holdings Corp. by 103.4% in the fourth quarter. Marshall Wace LLP now owns 498,349 shares of the company’s stock valued at $3,414,000 after buying an additional 253,298 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its stake in Vonage Holdings Corp. by 3.0% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 4,724,894 shares of the company’s stock valued at $31,232,000 after buying an additional 139,046 shares during the last quarter. United Services Automobile Association increased its stake in Vonage Holdings Corp. by 178.8% in the third quarter. United Services Automobile Association now owns 599,800 shares of the company’s stock valued at $3,965,000 after buying an additional 384,700 shares during the last quarter. Finally, Emancipation Management LLC increased its stake in Vonage Holdings Corp. by 1.3% in the fourth quarter. Emancipation Management LLC now owns 396,100 shares of the company’s stock valued at $2,713,000 after buying an additional 5,000 shares during the last quarter. 77.13% of the stock is owned by institutional investors and hedge funds.
About Vonage Holdings Corp.
Vonage Holdings Corp. is a provider of cloud communications services for businesses and consumers, and consumer and business communication solutions across multiple devices. 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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