Vonage Holdings Corp. Director Sells $2,050,000 in Stock (VG)
Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron unloaded 500,000 shares of the stock on the open market in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $4.10, for a total transaction of $2,050,000.00. Following the completion of the transaction, the director now directly owns 16,859,276 shares of the company’s stock, valued at approximately $69,123,032. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
VG has been the subject of a number of recent research reports. Analysts at Northland Securities reiterated a “buy” rating on shares of Vonage Holdings Corp. in a research note on Tuesday. Separately, analysts at EVA Dimensions upgraded shares of Vonage Holdings Corp. from an “underweight” rating to a “hold” rating in a research note on Friday, March 7th. Finally, analysts at Dougherty & Co initiated coverage on shares of Vonage Holdings Corp. in a research note on Monday, February 3rd. They set a “buy” rating and a $7.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Vonage Holdings Corp. presently has a consensus rating of “Buy” and a consensus target price of $5.64.
Shares of Vonage Holdings Corp. (NYSE:VG) traded down 2.40% during mid-day trading on Wednesday, hitting $4.06. 1,588,806 shares of the company’s stock traded hands. Vonage Holdings Corp. has a 1-year low of $2.65 and a 1-year high of $4.96. The stock has a 50-day moving average of $4.42 and a 200-day moving average of $3.79. The company has a market cap of $858.8 million and a P/E ratio of 32.00.
Vonage Holdings Corp. (NYSE:VG) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $211.00 million for the quarter, compared to the consensus estimate of $210.98 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, analysts predict that Vonage Holdings Corp. will post $0.14 earnings per share for the current fiscal year.
Vonage Holdings Corp. (NYSE:VG) is a provider of communications services connecting people through broadband devices worldwide.
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