Cramer Rosenthal Mcglynn LLC trimmed its holdings in shares of Vonage Holdings Corp. (NYSE:VG) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,896,709 shares of the technology company’s stock after selling 306,129 shares during the period. Cramer Rosenthal Mcglynn LLC owned about 2.14% of Vonage worth $49,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also modified their holdings of the business. Principal Financial Group Inc. boosted its holdings in shares of Vonage by 3,438.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,594,420 shares of the technology company’s stock valued at $12,979,000 after buying an additional 1,549,359 shares in the last quarter. Shell Asset Management Co. bought a new stake in shares of Vonage in the 4th quarter valued at about $15,311,000. Bank of New York Mellon Corp boosted its holdings in shares of Vonage by 103.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,674,457 shares of the technology company’s stock valued at $21,769,000 after buying an additional 1,360,141 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Vonage by 269.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,441,286 shares of the technology company’s stock valued at $11,733,000 after buying an additional 1,051,190 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Vonage by 28.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,084,441 shares of the technology company’s stock valued at $21,198,000 after buying an additional 458,117 shares in the last quarter. Institutional investors own 86.27% of the company’s stock.
In other Vonage news, Director Jeffrey A. Citron sold 414,916 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $10.18, for a total transaction of $4,223,844.88. Following the completion of the transaction, the director now directly owns 10,676,047 shares of the company’s stock, valued at approximately $108,682,158.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Alan Masarek sold 487,703 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $10.34, for a total transaction of $5,042,849.02. Following the transaction, the chief executive officer now directly owns 983,423 shares of the company’s stock, valued at $10,168,593.82. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 100,000 shares of company stock valued at $21,330 and sold 1,959,942 shares valued at $20,114,569. Company insiders own 14.05% of the company’s stock.
Vonage (NYSE:VG) last announced its quarterly earnings data on Wednesday, February 21st. The technology company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.01). The company had revenue of $254.00 million during the quarter, compared to analysts’ expectations of $254.19 million. Vonage had a negative net margin of 3.39% and a positive return on equity of 14.13%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 earnings per share. research analysts anticipate that Vonage Holdings Corp. will post 0.37 earnings per share for the current fiscal year.
VG has been the topic of a number of recent analyst reports. Zacks Investment Research restated a “hold” rating and issued a $11.00 price target on shares of Vonage in a report on Saturday, January 13th. Needham & Company LLC raised their price target on shares of Vonage from $10.00 to $12.00 and gave the company a “buy” rating in a report on Monday, December 11th. Robert W. Baird restated a “buy” rating on shares of Vonage in a report on Friday, November 17th. ValuEngine upgraded shares of Vonage from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Summit Redstone restated a “hold” rating on shares of Vonage in a report on Friday, February 9th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $10.41.
Vonage Company Profile
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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