Cowen Prime Services LLC Has $4.33 Million Stake in Vonage Holdings Corp. (VG)

Cowen Prime Services LLC lowered its stake in shares of Vonage Holdings Corp. (NYSE:VG) by 20.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 305,800 shares of the technology company’s stock after selling 77,500 shares during the quarter. Vonage makes up approximately 2.0% of Cowen Prime Services LLC’s portfolio, making the stock its 15th largest holding. Cowen Prime Services LLC owned about 0.13% of Vonage worth $4,330,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Public Employees Retirement Association of Colorado grew its position in Vonage by 256.2% during the third quarter. Public Employees Retirement Association of Colorado now owns 24,534 shares of the technology company’s stock valued at $347,000 after buying an additional 17,647 shares during the period. CWM LLC grew its position in Vonage by 51.5% during the third quarter. CWM LLC now owns 325,822 shares of the technology company’s stock valued at $4,614,000 after buying an additional 110,765 shares during the period. Russell Investments Group Ltd. grew its position in Vonage by 355.0% during the third quarter. Russell Investments Group Ltd. now owns 863,266 shares of the technology company’s stock valued at $12,229,000 after buying an additional 673,526 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in Vonage by 91.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 48,919 shares of the technology company’s stock worth $660,000 after purchasing an additional 23,349 shares during the period. Finally, Strs Ohio boosted its position in Vonage by 70.8% during the third quarter. Strs Ohio now owns 202,100 shares of the technology company’s stock worth $2,861,000 after purchasing an additional 83,800 shares during the period. Institutional investors own 85.07% of the company’s stock.

VG stock opened at $12.68 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.70 and a quick ratio of 0.69. Vonage Holdings Corp. has a 12 month low of $7.85 and a 12 month high of $14.73. The company has a market capitalization of $3.13 billion, a PE ratio of 45.29, a PEG ratio of 7.21 and a beta of -0.06.



Vonage (NYSE:VG) last released its quarterly earnings data on Wednesday, August 1st. The technology company reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. Vonage had a negative net margin of 1.14% and a positive return on equity of 16.92%. The company had revenue of $260.00 million during the quarter, compared to analyst estimates of $254.95 million. During the same period last year, the business earned $0.07 earnings per share. Vonage’s revenue was up 3.2% compared to the same quarter last year. Equities research analysts predict that Vonage Holdings Corp. will post 0.36 EPS for the current year.

In other news, SVP David Levi sold 4,113 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $13.68, for a total value of $56,265.84. Following the completion of the transaction, the senior vice president now directly owns 4,113 shares in the company, valued at $56,265.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey A. Citron sold 233,332 shares of the firm’s stock in a transaction that occurred on Wednesday, October 17th. The shares were sold at an average price of $13.67, for a total transaction of $3,189,648.44. Following the completion of the transaction, the director now owns 9,053,862 shares of the company’s stock, valued at $123,766,293.54. The disclosure for this sale can be found here. Insiders sold 2,550,893 shares of company stock valued at $35,711,797 over the last 90 days. 8.70% of the stock is owned by company insiders.

A number of equities analysts have weighed in on the stock. Citigroup increased their target price on shares of Vonage to $16.00 and gave the stock a “buy” rating in a research report on Monday, July 16th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Vonage from a “buy” rating to a “hold” rating in a research report on Saturday, August 4th. Needham & Company LLC reiterated a “buy” rating and set a $15.00 target price (up previously from $13.00) on shares of Vonage in a research report on Wednesday, August 1st. Finally, William Blair reiterated an “outperform” rating on shares of Vonage in a research report on Monday, September 24th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $12.83.

About Vonage

Vonage Holdings Corp. provides communications services connecting people through cloud-connected devices worldwide. It offers various business services, including basic dial tone, call queue, conferencing, call groups, mobile functionality, CRM integration, and detailed analytics, as well as Vonage Business Cloud and Vonage Enterprise services.

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Institutional Ownership by Quarter for Vonage (NYSE:VG)

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