Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron Sells 400,000 Shares

Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 400,000 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $11.34, for a total value of $4,536,000.00. Following the completion of the transaction, the director now directly owns 8,702,829 shares in the company, valued at $98,690,080.86. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

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

Several research analysts recently weighed in on VG shares. Jefferies Financial Group started coverage on Vonage in a research report on Friday, May 31st. They issued a “buy” rating and a $15.00 target price on the stock. Summit Insights reaffirmed a “hold” rating on shares of Vonage in a research report on Thursday, April 4th. Stephens reaffirmed a “buy” rating on shares of Vonage in a research report on Monday, April 29th. Zacks Investment Research raised Vonage from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Finally, Guggenheim started coverage on Vonage in a research report on Monday, March 11th. They issued a “neutral” rating and a $10.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $14.83.

Large investors have recently added to or reduced their stakes in the business. Quantamental Technologies LLC acquired a new stake in shares of Vonage during the first quarter valued at about $52,000. Sciencast Management LP acquired a new stake in shares of Vonage during the first quarter valued at about $107,000. Victory Capital Management Inc. grew its stake in shares of Vonage by 94.6% during the first quarter. Victory Capital Management Inc. now owns 12,998 shares of the technology company’s stock valued at $130,000 after acquiring an additional 6,319 shares in the last quarter. Brinker Capital Inc. grew its stake in shares of Vonage by 35.7% during the fourth quarter. Brinker Capital Inc. now owns 18,226 shares of the technology company’s stock valued at $159,000 after acquiring an additional 4,796 shares in the last quarter. Finally, Two Sigma Securities LLC acquired a new stake in shares of Vonage during the fourth quarter valued at about $161,000. 85.39% of the stock is currently owned by institutional investors.

About Vonage

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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