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Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 400,000 shares of the stock on the open market in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $3.22, for a total transaction of $1,288,000.00. Following the transaction, the director now directly owns 14,770,745 shares of the company’s stock, valued at approximately $47,561,799. The sale was disclosed in a filing with the SEC, 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, July 7th. They set a “buy” rating and a $6.50 price target on the stock. Five analysts have rated the stock with a buy rating, Vonage Holdings Corp. presently has an average rating of “Buy” and an average price target of $5.78.

Shares of Vonage Holdings Corp. (NYSE:VG) remained flat at $3.22 during during mid-day trading trading on Wednesday. 788,396 shares of the company’s stock traded hands. Vonage Holdings Corp. has a 52 week low of $2.99 and a 52 week high of $4.96. The stock’s 50-day moving average is $3.5 and its 200-day moving average is $3.91. The company has a market cap of $673.1 million and a P/E ratio of 37.88.

Vonage Holdings Corp. (NYSE:VG) last released its earnings data on Thursday, July 31st. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.04 by $0.03. The company had revenue of $218.90 million for the quarter, compared to the consensus estimate of $220.20 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. Analysts expect that Vonage Holdings Corp. will post $0.17 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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