GSA Capital Partners LLP trimmed its holdings in Vonage Holdings Corp. (NYSE:VG) by 72.4% during the third quarter, HoldingsChannel reports. The firm owned 38,548 shares of the technology company’s stock after selling 100,983 shares during the period. GSA Capital Partners LLP’s holdings in Vonage were worth $314,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. World Asset Management Inc acquired a new position in shares of Vonage in the 3rd quarter valued at approximately $112,000. Bayesian Capital Management LP acquired a new position in shares of Vonage in the 2nd quarter valued at approximately $118,000. CIBC Asset Management Inc acquired a new position in shares of Vonage in the 3rd quarter valued at approximately $148,000. SG Americas Securities LLC raised its position in shares of Vonage by 108.4% in the 2nd quarter. SG Americas Securities LLC now owns 24,416 shares of the technology company’s stock valued at $160,000 after purchasing an additional 12,701 shares in the last quarter. Finally, Amalgamated Bank raised its position in shares of Vonage by 11.7% in 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 in the last quarter. 83.99% of the stock is currently owned by institutional investors.
A number of equities analysts have issued reports on VG shares. Zacks Investment Research raised Vonage from a “hold” rating to a “buy” rating and set a $9.75 target price on the stock in a research report on Saturday, November 11th. Robert W. Baird reaffirmed a “buy” rating on shares of Vonage in a research report on Friday, November 17th. Citigroup reaffirmed a “buy” rating and issued a $9.75 target price on shares of Vonage in a research report on Wednesday, September 13th. Needham & Company LLC upped their target price on Vonage from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, December 11th. Finally, Northland Securities reissued a “buy” rating and set a $9.50 price target on shares of Vonage in a research report on Thursday, October 12th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $10.30.
Vonage (NYSE:VG) last posted its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.07 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.07. The business had revenue of $253.10 million for the quarter, compared to analyst estimates of $249.02 million. Vonage had a return on equity of 11.47% and a net margin of 2.14%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 EPS. research analysts predict that Vonage Holdings Corp. will post 0.28 earnings per share for the current year.
In related news, Director Jeffrey A. Citron sold 138,303 shares of the company’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $8.15, for a total transaction of $1,127,169.45. Following the sale, the director now directly owns 12,676,047 shares of the company’s stock, valued at approximately $103,309,783.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Edward M. Gilvar sold 17,778 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $9.76, for a total value of $173,513.28. Following the sale, the insider now directly owns 29,199 shares in the company, valued at $284,982.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,677,429 shares of company stock worth $15,273,575. Corporate 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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