Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 83,334 shares of Vonage stock in a transaction on Monday, April 8th. The shares were sold at an average price of $9.68, for a total value of $806,673.12. Following the completion of the transaction, the director now owns 8,563,086 shares in the company, valued at approximately $82,890,672.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of NYSE VG opened at $9.64 on Thursday. Vonage Holdings Corp. has a 1 year low of $7.91 and a 1 year high of $14.73. The stock has a market cap of $2.35 billion, a PE ratio of 30.13, a price-to-earnings-growth ratio of 10.95 and a beta of 0.64. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.63.

Vonage (NYSE:VG) last announced its earnings results on Thursday, February 21st. The technology company reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.02). The business had revenue of $273.80 million for the quarter, compared to analysts’ expectations of $274.64 million. Vonage had a return on equity of 15.33% and a net margin of 3.41%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 earnings per share. Equities research analysts anticipate that Vonage Holdings Corp. will post 0.18 earnings per share for the current year.

A number of research analysts have commented on VG shares. Zacks Investment Research cut Vonage from a “hold” rating to a “sell” rating in a research note on Saturday, January 5th. Summit Insights restated a “hold” rating on shares of Vonage in a research note on Thursday, April 4th. Stephens restated a “buy” rating and set a $14.00 price objective on shares of Vonage in a research note on Thursday, February 21st. Needham & Company LLC restated a “buy” rating and set a $15.00 price objective on shares of Vonage in a research note on Monday, January 7th. Finally, Guggenheim started coverage on Vonage in a research note on Monday, March 11th. They set a “neutral” rating and a $10.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $14.50.

A number of institutional investors have recently made changes to their positions in VG. Renaissance Technologies LLC grew its holdings in shares of Vonage by 30.8% during the third quarter. Renaissance Technologies LLC now owns 1,508,826 shares of the technology company’s stock valued at $21,365,000 after purchasing an additional 355,226 shares during the last quarter. Xact Kapitalforvaltning AB grew its holdings in shares of Vonage by 11.7% during the fourth quarter. Xact Kapitalforvaltning AB now owns 44,964 shares of the technology company’s stock valued at $393,000 after purchasing an additional 4,700 shares during the last quarter. CWM LLC grew its holdings in shares of Vonage by 25.3% during the fourth quarter. CWM LLC now owns 408,190 shares of the technology company’s stock valued at $3,563,000 after purchasing an additional 82,368 shares during the last quarter. Cowen Prime Services LLC grew its holdings in shares of Vonage by 229.1% during the fourth quarter. Cowen Prime Services LLC now owns 1,006,500 shares of the technology company’s stock valued at $8,787,000 after purchasing an additional 700,700 shares during the last quarter. Finally, California State Teachers Retirement System grew its holdings in shares of Vonage by 2.3% during the fourth quarter. California State Teachers Retirement System now owns 346,170 shares of the technology company’s stock valued at $3,022,000 after purchasing an additional 7,806 shares during the last quarter. 85.75% of the stock is owned by hedge funds and other institutional investors.

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Vonage Company 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.

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