Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 83,332 shares of the firm’s stock in a transaction dated Wednesday, January 9th. The stock was sold at an average price of $9.21, for a total value of $767,487.72. Following the transaction, the director now directly owns 8,558,801 shares in the company, valued at approximately $78,826,557.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

NYSE VG opened at $9.14 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.74 and a current ratio of 0.75. Vonage Holdings Corp. has a 52-week low of $7.91 and a 52-week high of $14.73. The stock has a market cap of $2.20 billion, a P/E ratio of 32.64, a P/E/G ratio of 7.08 and a beta of 0.33.

Vonage (NYSE:VG) last released its quarterly earnings results on Friday, November 2nd. The technology company reported $0.09 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.09. Vonage had a positive return on equity of 17.66% and a negative net margin of 1.22%. The firm had revenue of $261.53 million for the quarter, compared to analyst estimates of $263.91 million. During the same quarter last year, the company posted $0.07 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. Analysts predict that Vonage Holdings Corp. will post 0.35 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Vonage by 13.3% in the 2nd quarter. BlackRock Inc. now owns 30,970,520 shares of the technology company’s stock valued at $399,210,000 after purchasing an additional 3,641,447 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in Vonage by 238.6% in the 2nd quarter. Glenmede Trust Co. NA now owns 3,950,418 shares of the technology company’s stock valued at $50,920,000 after purchasing an additional 2,783,664 shares in the last quarter. Marshall Wace LLP boosted its holdings in Vonage by 2,793.8% in the 3rd quarter. Marshall Wace LLP now owns 1,308,598 shares of the technology company’s stock valued at $18,530,000 after purchasing an additional 1,263,378 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Vonage by 147.6% in the 2nd quarter. Renaissance Technologies LLC now owns 1,153,600 shares of the technology company’s stock valued at $14,870,000 after purchasing an additional 687,600 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Vonage by 355.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 863,266 shares of the technology company’s stock valued at $12,229,000 after purchasing an additional 673,526 shares in the last quarter. 85.05% of the stock is currently owned by hedge funds and other institutional investors.

VG has been the topic of a number of research reports. Zacks Investment Research raised Vonage from a “sell” rating to a “hold” rating in a report on Saturday, November 17th. ValuEngine lowered Vonage from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 1st. Needham & Company LLC reissued a “buy” rating and set a $15.00 price target on shares of Vonage in a report on Monday, January 7th. Dougherty & Co reissued a “buy” rating and set a $19.00 price target on shares of Vonage in a report on Thursday, November 29th. Finally, Stephens initiated coverage on Vonage in a report on Thursday, January 3rd. They set an “overweight” rating and a $14.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $14.83.

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About Vonage

Vonage Holdings Corp. provides communications services connecting people through cloud-connected devices worldwide. It offers various business services, including basic dial tone, call queue, conferencing, call groups, mobile functionality, CRM integration, and detailed analytics, as well as Vonage Business Cloud and Vonage Enterprise services.

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