CSat Investment Advisory L.P. acquired a new stake in Vonage Holdings Corp. (NYSE:VG) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 111,189 shares of the technology company’s stock, valued at approximately $1,433,000.

Other hedge funds have also recently bought and sold shares of the company. Amalgamated Bank raised its holdings in shares of Vonage by 21.3% in the 2nd quarter. Amalgamated Bank now owns 35,945 shares of the technology company’s stock valued at $463,000 after buying an additional 6,305 shares during the period. Comerica Bank raised its holdings in shares of Vonage by 4.5% in the 2nd quarter. Comerica Bank now owns 228,380 shares of the technology company’s stock valued at $3,072,000 after buying an additional 9,876 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in shares of Vonage by 235.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 126,043 shares of the technology company’s stock valued at $1,342,000 after buying an additional 88,442 shares during the period. American Century Companies Inc. raised its holdings in shares of Vonage by 18.7% in the 2nd quarter. American Century Companies Inc. now owns 885,448 shares of the technology company’s stock valued at $11,413,000 after buying an additional 139,355 shares during the period. Finally, Rothschild Asset Management Inc. raised its holdings in shares of Vonage by 11.9% in the 2nd quarter. Rothschild Asset Management Inc. now owns 3,005,356 shares of the technology company’s stock valued at $38,739,000 after buying an additional 320,074 shares during the period. Hedge funds and other institutional investors own 84.94% of the company’s stock.

Several brokerages have weighed in on VG. Citigroup upped their price target on Vonage to $16.00 and gave the stock a “buy” rating in a report on Monday, July 16th. They noted that the move was a valuation call. Zacks Investment Research downgraded Vonage from a “buy” rating to a “hold” rating in a report on Saturday, August 4th. Needham & Company LLC restated a “buy” rating and set a $15.00 price target (up previously from $13.00) on shares of Vonage in a report on Wednesday, August 1st. Finally, William Blair restated a “buy” rating on shares of Vonage in a report on Wednesday, August 1st. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $12.36.

In other news, CEO Alan Masarek sold 500,000 shares of the company’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $14.32, for a total transaction of $7,160,000.00. Following the completion of the transaction, the chief executive officer now directly owns 495,189 shares of the company’s stock, valued at approximately $7,091,106.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Valerie Kahn sold 2,192 shares of the company’s stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $12.00, for a total value of $26,304.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,607,754 shares of company stock valued at $22,042,134. Insiders own 8.70% of the company’s stock.

Shares of NYSE VG opened at $14.18 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.69 and a debt-to-equity ratio of 0.35. Vonage Holdings Corp. has a 1-year low of $7.62 and a 1-year high of $14.61. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 50.71, a P/E/G ratio of 7.63 and a beta of -0.08.

Vonage (NYSE:VG) last issued its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.07 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.07. Vonage had a positive return on equity of 16.92% and a negative net margin of 1.14%. The company had revenue of $260.00 million for the quarter, compared to the consensus estimate of $254.95 million. During the same quarter in the prior year, the business earned $0.07 EPS. Vonage’s revenue was up 3.2% on a year-over-year basis. research analysts expect that Vonage Holdings Corp. will post 0.37 earnings per share for the current fiscal year.

Vonage Profile

Vonage Holdings Corp. provides communications services connecting people through cloud-connected devices worldwide. It offers various business services, including basic dial tone, call queue, conferencing, call groups, mobile functionality, CRM integration, and detailed analytics, as well as Vonage Business Cloud and Vonage Enterprise services.

Further Reading: Diversification Important in Investing

Institutional Ownership by Quarter for Vonage (NYSE:VG)

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