Marshall Wace North America L.P. Sells 241,915 Shares of Vonage Holdings Corp. (NYSE:VG)

Marshall Wace North America L.P. reduced its holdings in shares of Vonage Holdings Corp. (NYSE:VG) by 52.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 221,357 shares of the technology company’s stock after selling 241,915 shares during the period. Marshall Wace North America L.P. owned about 0.09% of Vonage worth $2,222,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Comerica Bank boosted its position in shares of Vonage by 0.5% during the fourth quarter. Comerica Bank now owns 214,156 shares of the technology company’s stock worth $1,925,000 after acquiring an additional 1,115 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Vonage by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 85,364 shares of the technology company’s stock worth $857,000 after acquiring an additional 1,542 shares during the last quarter. Piedmont Investment Advisors Inc. boosted its position in shares of Vonage by 3.5% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 52,463 shares of the technology company’s stock worth $458,000 after acquiring an additional 1,782 shares during the last quarter. Mason Street Advisors LLC boosted its position in shares of Vonage by 3.5% during the first quarter. Mason Street Advisors LLC now owns 70,871 shares of the technology company’s stock worth $712,000 after acquiring an additional 2,421 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Vonage by 10.7% during the fourth quarter. Mackenzie Financial Corp now owns 28,550 shares of the technology company’s stock worth $249,000 after acquiring an additional 2,750 shares during the last quarter. 85.39% of the stock is owned by institutional investors and hedge funds.

Several research firms have commented on VG. Zacks Investment Research upgraded shares of Vonage from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Summit Insights reiterated a “hold” rating on shares of Vonage in a research report on Thursday, April 4th. Guggenheim started coverage on shares of Vonage in a research report on Monday, March 11th. They set a “neutral” rating and a $10.00 price objective for the company. Jefferies Financial Group started coverage on shares of Vonage in a report on Friday, May 31st. They issued a “buy” rating and a $15.00 target price for the company. Finally, Stephens restated a “buy” rating on shares of Vonage in a report on Monday, April 29th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Vonage presently has an average rating of “Buy” and a consensus price target of $14.83.

VG stock opened at $11.33 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.12. The stock has a market cap of $2.82 billion, a P/E ratio of 44.69, a PEG ratio of 10.75 and a beta of 0.35. The business has a 50-day moving average of $11.63. Vonage Holdings Corp. has a 12 month low of $7.91 and a 12 month high of $14.73.

Vonage (NYSE:VG) last posted its earnings results on Wednesday, May 8th. The technology company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The business had revenue of $280.00 million for the quarter, compared to the consensus estimate of $277.82 million. Vonage had a net margin of 0.99% and a return on equity of 12.11%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.13 EPS. As a group, analysts predict that Vonage Holdings Corp. will post 0.22 earnings per share for the current fiscal year.

In other news, Director Jeffrey A. Citron sold 400,000 shares of Vonage stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $11.34, for a total transaction of $4,536,000.00. Following the completion of the transaction, the director now directly owns 8,702,829 shares of the company’s stock, valued at approximately $98,690,080.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Vinod Lala sold 16,458 shares of Vonage stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $11.00, for a total transaction of $181,038.00. Following the transaction, the insider now directly owns 68,409 shares of the company’s stock, valued at $752,499. The disclosure for this sale can be found here. Insiders sold a total of 1,424,042 shares of company stock worth $15,679,886 over the last 90 days. Company insiders own 7.41% of the company’s stock.

Vonage Profile

Vonage Holdings Corp. provides cloud communications services for businesses and consumers. It operates through two segments, Business and Consumer. The Business segment offers cloud-based Unified Communications as a Service solutions, such as integrated voice, text, video, data, collaboration, contact center, and mobile applications through flexible, scalable Session Initiation protocol based VoIP network; Communications Platform as a Service solutions to developers designed to enhance the businesses communicate with customers by embedding communications into apps, Websites, and business processes; and Vonage Business Cloud and Vonage Enterprise services.

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Institutional Ownership by Quarter for Vonage (NYSE:VG)

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