Jeffrey A. Citron Sells 138,303 Shares of Vonage Holdings Corp. (VG) Stock
Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 138,303 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $10.14, for a total value of $1,402,392.42. Following the sale, the director now directly owns 10,676,047 shares in the company, valued at $108,255,116.58. The transaction was disclosed in a filing with the SEC, which is available at this link.
Vonage Holdings Corp. (NYSE VG) opened at $10.21 on Friday. The company has a market capitalization of $2,321.01, a price-to-earnings ratio of 127.64, a P/E/G ratio of 7.19 and a beta of -0.04. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.63 and a current ratio of 0.64. Vonage Holdings Corp. has a 52 week low of $5.74 and a 52 week high of $10.56.
Vonage (NYSE:VG) last released its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.07 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.07. Vonage had a return on equity of 11.47% and a net margin of 2.14%. The company had revenue of $253.10 million during the quarter, compared to analysts’ expectations of $249.02 million. During the same quarter in the prior year, the business posted $0.09 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. analysts anticipate that Vonage Holdings Corp. will post 0.28 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC grew its stake in shares of Vonage by 54.2% in the second quarter. Parametric Portfolio Associates LLC now owns 744,774 shares of the technology company’s stock worth $4,871,000 after purchasing an additional 261,918 shares in the last quarter. First Washington CORP bought a new position in shares of Vonage in the second quarter worth $2,446,000. Pier Capital LLC bought a new position in shares of Vonage in the second quarter worth $5,348,000. Federated Investors Inc. PA grew its stake in shares of Vonage by 13.9% in the second quarter. Federated Investors Inc. PA now owns 2,004,456 shares of the technology company’s stock worth $13,109,000 after purchasing an additional 243,979 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Vonage by 15.3% in the second quarter. Royal Bank of Canada now owns 6,559,655 shares of the technology company’s stock worth $42,902,000 after purchasing an additional 872,527 shares in the last quarter. 83.99% of the stock is owned by institutional investors.
VG has been the subject of a number of recent research reports. Zacks Investment Research upgraded Vonage from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a research note on Saturday, November 11th. Robert W. Baird restated a “buy” rating on shares of Vonage in a research note on Friday, November 17th. Northland Securities restated a “buy” rating and set a $9.50 price objective on shares of Vonage in a research note on Tuesday, September 5th. Citigroup restated a “buy” rating and set a $9.75 price objective on shares of Vonage in a research note on Wednesday, September 13th. Finally, Oppenheimer upped their price objective on Vonage from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $9.94.
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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.
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