Jeffrey A. Citron Sells 514,913 Shares of Vonage Holdings Corp. (VG) Stock

Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 514,913 shares of the company’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $10.37, for a total value of $5,339,647.81. Following the completion of the sale, the director now owns 10,680,286 shares of the company’s stock, valued at $110,754,565.82. The transaction was disclosed in a filing with the SEC, which is available through this link.

Shares of Vonage Holdings Corp. (NYSE VG) traded up $0.36 during mid-day trading on Friday, reaching $10.96. The company’s stock had a trading volume of 2,540,000 shares, compared to its average volume of 1,700,000. Vonage Holdings Corp. has a 1-year low of $5.74 and a 1-year high of $11.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.64 and a quick ratio of 0.63. The stock has a market cap of $2,490.00, a price-to-earnings ratio of 121.78, a PEG ratio of 5.88 and a beta of -0.05.

Vonage (NYSE:VG) last issued its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.07 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.07. Vonage had a return on equity of 11.47% and a net margin of 2.14%. The business had revenue of $253.10 million during the quarter, compared to analyst estimates of $249.02 million. During the same quarter in the prior year, the business posted $0.09 EPS. Vonage’s revenue for the quarter was up 1.9% compared to the same quarter last year. equities analysts anticipate that Vonage Holdings Corp. will post 0.28 earnings per share for the current fiscal year.

VG has been the subject of several analyst reports. Zacks Investment Research upgraded Vonage from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a research note on Saturday, November 11th. Needham & Company LLC restated a “buy” rating and issued a $10.00 price objective (up from $9.50) on shares of Vonage in a research note on Wednesday, November 8th. Citigroup restated a “buy” rating and issued a $11.00 price objective on shares of Vonage in a research note on Wednesday, November 8th. They noted that the move was a valuation call. Craig Hallum reiterated a “buy” rating and issued a $11.00 price target (up previously from $10.00) on shares of Vonage in a research note on Tuesday, November 7th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $9.00 price target on shares of Vonage in a research note on Friday, October 20th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Vonage presently has a consensus rating of “Buy” and a consensus target price of $10.30.

A number of hedge funds have recently modified their holdings of the business. Suntrust Banks Inc. increased its stake in Vonage by 2.6% in the 2nd quarter. Suntrust Banks Inc. now owns 31,971 shares of the technology company’s stock worth $209,000 after buying an additional 807 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Vonage by 5.1% during the second 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 in the last quarter. Amalgamated Bank grew its position in shares of Vonage by 11.7% during the second 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. The Manufacturers Life Insurance Company grew 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 valued at $1,004,000 after purchasing an additional 6,103 shares in the last quarter. Finally, D.A. Davidson & CO. grew its position in shares of Vonage by 9.7% during the second quarter. D.A. Davidson & CO. now owns 75,685 shares of the technology company’s stock valued at $494,000 after purchasing an additional 6,710 shares in the last quarter. Institutional investors and hedge funds own 83.99% of the company’s stock.

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Vonage 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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