Vonage Holdings Corp. (VG) Shares Sold by Creative Planning

Creative Planning lowered its stake in shares of Vonage Holdings Corp. (NYSE:VG) by 22.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,440 shares of the technology company’s stock after selling 5,000 shares during the period. Creative Planning’s holdings in Vonage were worth $177,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of VG. World Asset Management Inc purchased a new position in Vonage in the 3rd quarter valued at approximately $112,000. Bank of Montreal Can grew its stake in Vonage by 103.4% in the 4th quarter. Bank of Montreal Can now owns 12,948 shares of the technology company’s stock valued at $131,000 after buying an additional 6,581 shares in the last quarter. CIBC Asset Management Inc purchased a new position in Vonage in the 3rd quarter valued at approximately $148,000. Amalgamated Bank grew its stake in 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 buying an additional 2,805 shares in the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new position in Vonage in the 3rd quarter valued at approximately $177,000. Institutional investors own 83.85% of the company’s stock.

In other news, Director Jeffrey A. Citron sold 238,303 shares of the business’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $10.07, for a total transaction of $2,399,711.21. Following the completion of the transaction, the director now directly owns 10,680,286 shares in the company, valued at approximately $107,550,480.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey A. Citron sold 514,913 shares of Vonage stock in a transaction on Friday, January 12th. The stock was sold at an average price of $10.37, for a total transaction of $5,339,647.81. Following the sale, the director now directly owns 10,680,286 shares of the company’s stock, valued at $110,754,565.82. The disclosure for this sale can be found here. Insiders have sold a total of 1,877,429 shares of company stock valued at $18,516,671 over the last 90 days. Company insiders own 14.05% of the company’s stock.

Vonage Holdings Corp. (VG) opened at $10.64 on Thursday. The company has a market cap of $2,389.61, a price-to-earnings ratio of 133.02, a PEG ratio of 6.15 and a beta of -0.04. The company has a current ratio of 0.64, a quick ratio of 0.63 and a debt-to-equity ratio of 0.51. Vonage Holdings Corp. has a 1 year low of $5.74 and a 1 year high of $11.32.

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

A number of research analysts recently weighed in on the stock. Zacks Investment Research reiterated a “hold” rating and issued a $11.00 price objective on shares of Vonage in a research note on Saturday, January 13th. Robert W. Baird reiterated a “buy” rating and issued a $11.00 price objective on shares of Vonage in a research note on Wednesday, January 3rd. Needham & Company LLC lifted their price objective on shares of Vonage from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Oppenheimer lifted their price objective on shares of Vonage from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Finally, Citigroup restated a “buy” rating and set a $11.00 price target on shares of Vonage in a research report on Wednesday, November 8th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $10.30.

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About Vonage

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.

Institutional Ownership by Quarter for Vonage (NYSE:VG)

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