Vonage Holdings Corp. (VG) Position Reduced by Emerald Advisers Inc. PA

Emerald Advisers Inc. PA reduced its stake in shares of Vonage Holdings Corp. (NYSE:VG) by 11.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,518,199 shares of the technology company’s stock after selling 608,838 shares during the quarter. Vonage Holdings Corp. comprises approximately 1.5% of Emerald Advisers Inc. PA’s portfolio, making the stock its 10th largest holding. Emerald Advisers Inc. PA owned about 1.99% of Vonage Holdings Corp. worth $36,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently made changes to their positions in VG. BlackRock Inc. grew its position in Vonage Holdings Corp. by 36,952.8% during the 1st quarter. BlackRock Inc. now owns 15,753,734 shares of the technology company’s stock worth $99,564,000 after purchasing an additional 15,711,217 shares during the last quarter. Southpoint Capital Advisors LP purchased a new position in Vonage Holdings Corp. during the 2nd quarter worth $27,468,000. SQN Investors LP grew its position in Vonage Holdings Corp. by 111.0% during the 2nd quarter. SQN Investors LP now owns 5,647,830 shares of the technology company’s stock worth $36,937,000 after purchasing an additional 2,970,716 shares during the last quarter. Rubric Capital Management LP purchased a new position in Vonage Holdings Corp. during the 2nd quarter worth $15,696,000. Finally, Vanguard Group Inc. grew its position in Vonage Holdings Corp. by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 19,739,952 shares of the technology company’s stock worth $124,757,000 after purchasing an additional 1,741,500 shares during the last quarter. Hedge funds and other institutional investors own 79.06% of the company’s stock.

Several brokerages have issued reports on VG. Robert W. Baird reissued a “buy” rating and set a $9.00 price objective on shares of Vonage Holdings Corp. in a research report on Friday, October 20th. Northland Securities reissued a “buy” rating and set a $9.50 price objective on shares of Vonage Holdings Corp. in a research report on Thursday, October 12th. Needham & Company LLC reissued a “buy” rating and set a $9.50 price objective on shares of Vonage Holdings Corp. in a research report on Wednesday, September 27th. Citigroup Inc. reissued a “buy” rating and set a $9.75 price objective on shares of Vonage Holdings Corp. in a research report on Wednesday, September 13th. Finally, FBN Securities downgraded shares of Vonage Holdings Corp. from an “outperform” rating to a “sector perform” rating and set a $8.70 price objective on the stock. in a research report on Thursday, August 10th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $9.16.

In other news, Director Jeffrey A. Citron sold 138,303 shares of the firm’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $8.15, for a total transaction of $1,127,169.45. Following the completion of the transaction, the director now owns 12,676,047 shares in the company, valued at approximately $103,309,783.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey A. Citron sold 414,913 shares of the firm’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $7.99, for a total transaction of $3,315,154.87. Following the transaction, the director now owns 12,670,751 shares of the company’s stock, valued at approximately $101,239,300.49. The disclosure for this sale can be found here. Insiders sold a total of 1,581,392 shares of company stock valued at $12,777,047 in the last quarter. 14.05% of the stock is currently owned by insiders.

Vonage Holdings Corp. (NYSE:VG) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. The business had revenue of $252.00 million during 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 company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 earnings per share.

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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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