Jeffrey A. Citron Sells 414,913 Shares of Vonage Holdings Corp. (VG) Stock
Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 414,913 shares of Vonage Holdings Corp. stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $8.12, for a total value of $3,369,093.56. Following the completion of the sale, the director now owns 12,676,047 shares of the company’s stock, valued at $102,929,501.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Vonage Holdings Corp. (NYSE:VG) opened at 8.12 on Friday. The company has a market capitalization of $1.85 billion, a P/E ratio of 101.50 and a beta of -0.11. Vonage Holdings Corp. has a one year low of $5.74 and a one year high of $8.69. The firm has a 50-day moving average of $8.14 and a 200-day moving average of $7.24.
Vonage Holdings Corp. (NYSE:VG) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $252.00 million during the quarter, compared to analysts’ expectations of $242.05 million. Vonage Holdings Corp. had a return on equity of 12.40% and a net margin of 2.00%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.08 EPS. On average, analysts anticipate that Vonage Holdings Corp. will post $0.27 earnings per share for the current year.
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Several research firms recently weighed in on VG. FBN Securities downgraded Vonage Holdings Corp. from an “outperform” rating to a “sector perform” rating and set a $8.70 price objective for the company. in a report on Thursday, August 10th. Zacks Investment Research upgraded Vonage Holdings Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Robert W. Baird restated a “buy” rating and issued a $9.00 price objective on shares of Vonage Holdings Corp. in a report on Friday. Northland Securities restated a “buy” rating and issued a $9.50 price objective on shares of Vonage Holdings Corp. in a report on Tuesday, September 5th. Finally, BidaskClub upgraded Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Two 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 an average price target of $9.16.
Several institutional investors and hedge funds have recently made changes to their positions in VG. BlackRock Inc. boosted its stake in shares of Vonage Holdings Corp. by 36,952.8% in the 1st quarter. BlackRock Inc. now owns 15,753,734 shares of the technology company’s stock valued at $99,564,000 after buying an additional 15,711,217 shares during the period. Southpoint Capital Advisors LP purchased a new position in shares of Vonage Holdings Corp. in the 2nd quarter valued at about $27,468,000. SQN Investors LP boosted its stake in shares of Vonage Holdings Corp. by 111.0% in the 2nd quarter. SQN Investors LP now owns 5,647,830 shares of the technology company’s stock valued at $36,937,000 after buying an additional 2,970,716 shares during the period. Rubric Capital Management LP purchased a new position in shares of Vonage Holdings Corp. in the 2nd quarter valued at about $15,696,000. Finally, Vanguard Group Inc. boosted its stake in shares of Vonage Holdings Corp. by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 19,739,952 shares of the technology company’s stock valued at $124,757,000 after buying an additional 1,741,500 shares during the period. Institutional investors and hedge funds own 79.57% of the company’s stock.
About Vonage Holdings Corp.
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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