Insider Selling: Vonage Holdings Corp. (NASDAQ:VG) Director Sells 18,100 Shares of Stock

Vonage Holdings Corp. (NASDAQ:VG) Director Jeffrey A. Citron sold 18,100 shares of the firm’s stock in a transaction dated Tuesday, September 7th. The shares were sold at an average price of $15.00, for a total value of $271,500.00. Following the transaction, the director now directly owns 8,441,098 shares of the company’s stock, valued at approximately $126,616,470. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Jeffrey A. Citron also recently made the following trade(s):

  • On Thursday, August 5th, Jeffrey A. Citron sold 50,000 shares of Vonage stock. The shares were sold at an average price of $15.00, for a total value of $750,000.00.

Shares of VG stock traded up $0.02 during trading on Wednesday, reaching $14.85. The company had a trading volume of 1,576,804 shares, compared to its average volume of 2,565,649. The firm’s 50 day simple moving average is $14.07 and its two-hundred day simple moving average is $13.54. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.82 and a quick ratio of 0.82. Vonage Holdings Corp. has a one year low of $9.52 and a one year high of $15.72. The company has a market capitalization of $3.74 billion, a PE ratio of -148.50, a PEG ratio of 14.26 and a beta of 0.73.

Vonage (NASDAQ:VG) last issued its quarterly earnings data on Thursday, August 5th. The company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01. Vonage had a positive return on equity of 7.85% and a negative net margin of 1.84%. Analysts forecast that Vonage Holdings Corp. will post 0.19 earnings per share for the current year.

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A number of equities analysts recently weighed in on VG shares. Robert W. Baird reiterated a “buy” rating and issued a $19.00 price target on shares of Vonage in a research report on Friday, August 6th. Zacks Investment Research upgraded Vonage from a “sell” rating to a “hold” rating in a research report on Thursday, August 19th. KeyCorp increased their price objective on Vonage from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, July 22nd. Colliers Securities reissued a “buy” rating and issued a $20.00 price objective on shares of Vonage in a research note on Thursday, September 2nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Vonage in a research note on Tuesday, August 31st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Vonage currently has a consensus rating of “Buy” and an average target price of $16.57.

Hedge funds have recently modified their holdings of the stock. Amundi Pioneer Asset Management Inc. grew its holdings in Vonage by 19.6% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 94,576 shares of the company’s stock valued at $950,000 after buying an additional 15,500 shares during the last quarter. CWM Advisors LLC grew its holdings in Vonage by 21.1% in the 1st quarter. CWM Advisors LLC now owns 24,768 shares of the company’s stock valued at $293,000 after buying an additional 4,308 shares during the last quarter. Exane Derivatives grew its holdings in Vonage by 14.9% in the 1st quarter. Exane Derivatives now owns 21,284 shares of the company’s stock valued at $252,000 after buying an additional 2,760 shares during the last quarter. Virginia Retirement Systems ET AL grew its holdings in Vonage by 62.0% in the 1st quarter. Virginia Retirement Systems ET AL now owns 104,500 shares of the company’s stock valued at $1,235,000 after buying an additional 40,000 shares during the last quarter. Finally, Chartwell Investment Partners LLC grew its holdings in Vonage by 88.8% in the 1st quarter. Chartwell Investment Partners LLC now owns 149,865 shares of the company’s stock valued at $1,771,000 after buying an additional 70,484 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Vonage Company Profile

Vonage Holdings Corp. engages in the provision of communication services through cloud-connected devices. It operates through the Business and Consumer segments. The Business segment provides cloud-based Unified Communications as a Service (UCaaS) solutions, which comprises of integrated voice, text, video, data, collaboration, and mobile applications over its scalable Session Initiation Protocol based Voice over Internet Protocol network.

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