Amundi Pioneer Asset Management Inc. decreased its holdings in shares of Vonage Holdings Corp. (NASDAQ:VG) by 21.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,613 shares of the company’s stock after selling 18,948 shares during the quarter. Amundi Pioneer Asset Management Inc.’s holdings in Vonage were worth $883,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. Canada Pension Plan Investment Board bought a new position in Vonage during the 4th quarter worth approximately $1,145,000. James Hambro & Partners bought a new position in Vonage during the 4th quarter worth approximately $234,000. Samjo Capital LLC bought a new position in Vonage in the fourth quarter valued at approximately $8,240,000. Federated Hermes Inc. lifted its stake in Vonage by 0.7% in the fourth quarter. Federated Hermes Inc. now owns 130,016 shares of the company’s stock valued at $1,674,000 after buying an additional 945 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in Vonage by 2.8% in the fourth quarter. California Public Employees Retirement System now owns 548,032 shares of the company’s stock valued at $7,056,000 after buying an additional 14,730 shares in the last quarter. Institutional investors own 89.83% of the company’s stock.
A number of brokerages have weighed in on VG. Citigroup lifted their price target on shares of Vonage from $15.00 to $16.00 in a research note on Friday, March 5th. Needham & Company LLC lifted their price target on shares of Vonage from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, February 25th. Zacks Investment Research upgraded shares of Vonage from a “sell” rating to a “hold” rating in a report on Saturday, February 20th. Oppenheimer started coverage on shares of Vonage in a report on Thursday, February 18th. They issued a “buy” rating and a $14.00 price objective on the stock. Finally, Summit Insights reiterated a “hold” rating on shares of Vonage in a report on Thursday, February 18th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $14.25.
Vonage (NASDAQ:VG) last posted its quarterly earnings data on Wednesday, February 17th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.03). Vonage had a negative net margin of 1.99% and a positive return on equity of 9.76%. The business had revenue of $323.30 million during the quarter, compared to the consensus estimate of $316.15 million. Equities research analysts predict that Vonage Holdings Corp. will post 0.21 earnings per share for the current fiscal year.
In related news, Director Jeffrey A. Citron sold 12,858 shares of Vonage stock in a transaction that occurred on Wednesday, March 10th. The shares were sold at an average price of $12.50, for a total value of $160,725.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey A. Citron sold 50,000 shares of Vonage stock in a transaction that occurred on Wednesday, February 10th. The shares were sold at an average price of $14.71, for a total transaction of $735,500.00. Following the completion of the transaction, the director now directly owns 8,734,542 shares in the company, valued at $128,485,112.82. The disclosure for this sale can be found here. Insiders have sold 362,858 shares of company stock worth $5,408,225 over the last ninety days. Insiders own 6.50% of the company’s stock.
Vonage Company Profile
Vonage Holdings Corp. primarily operates as a business-to-business cloud communications company in the United States, Canada, the United Kingdom, the European Union, and Asia. It operates in two segments, Vonage Communications Platform and Consumer. The Vonage Communications Platform segment offers programmable, embeddable, and customizable application program interfaces that enable software developers to build communications capabilities, such as messaging and voice calling within their applications; and Vonage Contact Center, a cloud contact center solution.
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