Vonage Holdings Corp. (VG) CFO Sells $1,600,684.50 in Stock
Vonage Holdings Corp. (NYSE:VG) CFO David T. Pearson sold 198,350 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $8.07, for a total transaction of $1,600,684.50. Following the transaction, the chief financial officer now owns 216,119 shares of the company’s stock, valued at approximately $1,744,080.33. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of Vonage Holdings Corp. (NYSE VG) opened at 8.13 on Thursday. The company’s 50-day moving average is $7.17 and its 200 day moving average is $6.70. The stock has a market cap of $1.85 billion, a PE ratio of 101.62 and a beta of -0.01. Vonage Holdings Corp. has a 52 week low of $5.65 and a 52 week high of $8.50.
Vonage Holdings Corp. (NYSE:VG) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The business had revenue of $252 million during the quarter, compared to analyst estimates of $242.05 million. Vonage Holdings Corp. had a net margin of 2.00% and a return on equity of 12.40%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 earnings per share. Analysts forecast that Vonage Holdings Corp. will post $0.27 earnings per share for the current fiscal year.
Several research firms recently weighed in on VG. BidaskClub upgraded shares of Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. FBN Securities cut shares of Vonage Holdings Corp. from an “outperform” rating to a “sector perform” rating and set a $8.70 price objective for the company. in a research note on Thursday, August 10th. Zacks Investment Research raised shares of Vonage Holdings Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Dougherty & Co dropped their price objective on shares of Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating for the company in a research note on Friday, August 4th. Finally, William Blair reaffirmed an “outperform” rating on shares of Vonage Holdings Corp. in a research note on Wednesday, May 24th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $8.39.
Several hedge funds have recently bought and sold shares of VG. Quantitative Systematic Strategies LLC acquired a new position in shares of Vonage Holdings Corp. during the first quarter valued at $105,000. Fifth Third Bancorp raised its position in shares of Vonage Holdings Corp. by 29.6% in the first quarter. Fifth Third Bancorp now owns 16,911 shares of the technology company’s stock valued at $107,000 after buying an additional 3,863 shares during the last quarter. Bayesian Capital Management LP acquired a new position in shares of Vonage Holdings Corp. during the second quarter valued at $118,000. Eqis Capital Management Inc. raised its position in shares of Vonage Holdings Corp. by 19.8% in the first quarter. Eqis Capital Management Inc. now owns 19,230 shares of the technology company’s stock valued at $122,000 after buying an additional 3,176 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new position in shares of Vonage Holdings Corp. during the first quarter valued at $126,000. 76.17% of the stock is owned by institutional investors and hedge funds.
About Vonage Holdings Corp.
Vonage Holdings Corp. is a provider of cloud communications services for businesses and consumers, and consumer and communication solutions across multiple devices. The Company operates through two segments: Business and Consumer. For business services customers, the Company provides cloud-based unified communications as a service (UCaaS) solutions, consisting of integrated voice, text, video, data, collaboration, and mobile applications over its scalable session initiation protocol (SIP) based voice over Internet protocol (VoIP) network.
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