Vonage Holdings Corp. (VG) Shares Bought by Sei Investments Co.
Sei Investments Co. lifted its stake in shares of Vonage Holdings Corp. (NYSE:VG) by 465.6% during the fourth quarter, HoldingsChannel reports. The firm owned 483,401 shares of the technology company’s stock after buying an additional 397,939 shares during the period. Sei Investments Co.’s holdings in Vonage were worth $4,916,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in VG. Voya Investment Management LLC lifted its position in shares of Vonage by 10.2% during the second quarter. Voya Investment Management LLC now owns 88,924 shares of the technology company’s stock worth $582,000 after purchasing an additional 8,196 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Vonage by 4.1% during the second quarter. The Manufacturers Life Insurance Company now owns 153,445 shares of the technology company’s stock worth $1,004,000 after purchasing an additional 6,103 shares in the last quarter. APG Asset Management N.V. acquired a new position in shares of Vonage during the third quarter worth approximately $2,731,000. Aperio Group LLC lifted its position in shares of Vonage by 58.4% during the third quarter. Aperio Group LLC now owns 32,284 shares of the technology company’s stock worth $263,000 after purchasing an additional 11,897 shares in the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Vonage during the third quarter worth approximately $177,000. Institutional investors own 84.88% of the company’s stock.
Vonage Holdings Corp. (NYSE:VG) opened at $10.29 on Friday. Vonage Holdings Corp. has a twelve month low of $5.74 and a twelve month high of $11.65. The firm has a market cap of $2,337.02, a P/E ratio of -64.31, a P/E/G ratio of 5.52 and a beta of 0.09. The company has a quick ratio of 0.29, a current ratio of 0.67 and a debt-to-equity ratio of 0.45.
Several equities analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $10.00 price objective (up from $9.50) on shares of Vonage in a report on Wednesday, November 8th. Robert W. Baird restated a “buy” rating on shares of Vonage in a report on Friday, November 17th. Summit Redstone restated a “hold” rating on shares of Vonage in a report on Friday, February 9th. Oppenheimer increased their price objective on shares of Vonage from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Thursday, November 9th. Finally, Zacks Investment Research lowered shares of Vonage from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $10.41.
In other Vonage news, CEO Alan Masarek sold 165,804 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $10.29, for a total value of $1,706,123.16. Following the sale, the chief executive officer now directly owns 983,423 shares in the company, valued at $10,119,422.67. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeffrey A. Citron sold 138,303 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $10.14, for a total transaction of $1,402,392.42. Following the completion of the sale, the director now owns 10,676,047 shares in the company, valued at $108,255,116.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,959,942 shares of company stock worth $20,114,569. Company insiders own 14.05% of the company’s stock.
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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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