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Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 400,000 shares of Vonage Holdings Corp. stock on the open market in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $3.73, for a total value of $1,492,000.00. Following the sale, the director now directly owns 15,570,745 shares of the company’s stock, valued at approximately $58,078,879. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Separately, analysts at Dougherty & Co initiated coverage on shares of Vonage Holdings Corp. in a research note on Monday. They set a “buy” rating and a $6.50 price target on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $5.54.

Shares of Vonage Holdings Corp. (NYSE:VG) traded down 3.21% during mid-day trading on Wednesday, hitting $3.62. 1,247,484 shares of the company’s stock traded hands. Vonage Holdings Corp. has a 52-week low of $2.88 and a 52-week high of $4.96. The stock’s 50-day moving average is $3.62 and its 200-day moving average is $3.97. The company has a market cap of $766.1 million and a P/E ratio of 42.02.

Vonage Holdings Corp. (NYSE:VG) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.06 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.03 by $0.03. The company had revenue of $221.00 million for the quarter, compared to the consensus estimate of $219.60 million. During the same quarter last year, the company posted $0.10 earnings per share. Vonage Holdings Corp.’s revenue was up 5.5% compared to the same quarter last year. Analysts expect that Vonage Holdings Corp. will post $0.15 EPS 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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