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.

WARNING: “Vonage Holdings Corp. (VG) CFO Sells $1,600,684.50 in Stock” was first reported by American Banking News and is the property of of American Banking News. If you are reading this article on another site, it was copied illegally and republished in violation of U.S. and international copyright laws. The correct version of this article can be viewed at https://www.americanbankingnews.com/2017/08/24/vonage-holdings-corp-vg-cfo-sells-1600684-50-in-stock.html.

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.

Insider Buying and Selling by Quarter for Vonage Holdings Corp. (NYSE:VG)

Receive News & Ratings for Vonage Holdings Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vonage Holdings Corp. and related companies with MarketBeat.com's FREE daily email newsletter.