Vonage Holdings Corp. (VG) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its stake in Vonage Holdings Corp. (NYSE:VG) by 31.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 225,183 shares of the technology company’s stock after selling 103,684 shares during the period. New York State Common Retirement Fund owned about 0.10% of Vonage Holdings Corp. worth $1,473,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aperio Group LLC raised its position in Vonage Holdings Corp. by 2.2% during the 2nd quarter. Aperio Group LLC now owns 20,387 shares of the technology company’s stock valued at $133,000 after purchasing an additional 433 shares during the last quarter. Eqis Capital Management Inc. raised its position in Vonage Holdings Corp. by 4.2% during the 2nd quarter. Eqis Capital Management Inc. now owns 20,043 shares of the technology company’s stock valued at $131,000 after purchasing an additional 813 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in Vonage Holdings Corp. by 5.1% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 32,101 shares of the technology company’s stock valued at $210,000 after purchasing an additional 1,571 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in Vonage Holdings Corp. by 2.0% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 126,994 shares of the technology company’s stock valued at $803,000 after purchasing an additional 2,542 shares during the last quarter. Finally, Amalgamated Bank raised its position in Vonage Holdings Corp. by 11.7% during the 2nd quarter. Amalgamated Bank now owns 26,757 shares of the technology company’s stock valued at $175,000 after purchasing an additional 2,805 shares during the last quarter. 79.06% of the stock is owned by institutional investors.

A number of research analysts have commented on VG shares. Zacks Investment Research lowered Vonage Holdings Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Dougherty & Co lowered their price target on Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating for the company in a research report on Friday, August 4th. BidaskClub raised Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. FBN Securities lowered Vonage Holdings Corp. from an “outperform” rating to a “sector perform” rating and set a $8.70 price target for the company. in a research report on Thursday, August 10th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $9.00 price target on shares of Vonage Holdings Corp. in a research report on Friday, September 1st. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Vonage Holdings Corp. currently has a consensus rating of “Buy” and an average target price of $9.16.

Shares of Vonage Holdings Corp. (VG) opened at 8.21 on Monday. The company has a 50 day moving average price of $8.13 and a 200 day moving average price of $7.31. The stock has a market cap of $1.87 billion, a P/E ratio of 102.62 and a beta of -0.11. Vonage Holdings Corp. has a 1-year low of $5.74 and a 1-year high of $8.69.

Vonage Holdings Corp. (NYSE:VG) last released its earnings results on Thursday, August 3rd. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.06. The company had revenue of $252.00 million for the quarter, compared to analyst estimates of $242.05 million. Vonage Holdings Corp. had a net margin of 2.00% and a return on equity of 12.40%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.08 EPS. On average, equities analysts anticipate that Vonage Holdings Corp. will post $0.27 EPS for the current year.

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In other news, Director Jeffrey A. Citron sold 138,303 shares of the firm’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $8.15, for a total value of $1,127,169.45. Following the sale, the director now directly owns 12,676,047 shares in the company, valued at approximately $103,309,783.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey A. Citron sold 414,913 shares of the firm’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $8.12, for a total transaction of $3,369,093.56. Following the completion of the sale, the director now owns 12,676,047 shares in the company, valued at $102,929,501.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,581,392 shares of company stock worth $12,777,047. 14.05% of the stock is owned by company insiders.

Vonage Holdings Corp. 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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Institutional Ownership by Quarter for Vonage Holdings Corp. (NYSE:VG)

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