Strs Ohio Has $2.86 Million Holdings in Vonage Holdings Corp. (VG)

Strs Ohio grew its holdings in shares of Vonage Holdings Corp. (NYSE:VG) by 70.8% during the third quarter, HoldingsChannel reports. The firm owned 202,100 shares of the technology company’s stock after acquiring an additional 83,800 shares during the quarter. Strs Ohio’s holdings in Vonage were worth $2,861,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. New York State Teachers Retirement System boosted its position in shares of Vonage by 2.6% during the 2nd quarter. New York State Teachers Retirement System now owns 156,947 shares of the technology company’s stock worth $2,023,000 after acquiring an additional 3,974 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Vonage by 9.8% during the 2nd quarter. Marshall Wace LLP now owns 45,220 shares of the technology company’s stock worth $583,000 after acquiring an additional 4,032 shares in the last quarter. OppenheimerFunds Inc. boosted its position in shares of Vonage by 7.4% during the 2nd quarter. OppenheimerFunds Inc. now owns 62,648 shares of the technology company’s stock worth $808,000 after acquiring an additional 4,302 shares in the last quarter. D.A. Davidson & CO. boosted its position in shares of Vonage by 5.6% during the 2nd quarter. D.A. Davidson & CO. now owns 82,182 shares of the technology company’s stock worth $1,059,000 after acquiring an additional 4,377 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in shares of Vonage by 4.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 96,800 shares of the technology company’s stock worth $1,248,000 after acquiring an additional 4,500 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Several research firms recently issued reports on VG. Citigroup increased their price target 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 price target (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 equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $12.83.



In other news, CEO Alan Masarek sold 500,000 shares of the firm’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $14.32, for a total transaction of $7,160,000.00. Following the completion of the transaction, the chief executive officer now owns 495,189 shares of the company’s stock, valued at $7,091,106.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen Fisher sold 163,951 shares of the firm’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $13.33, for a total transaction of $2,185,466.83. Following the transaction, the director now directly owns 80,409 shares of the company’s stock, valued at approximately $1,071,851.97. The disclosure for this sale can be found here. In the last three months, insiders sold 2,550,893 shares of company stock valued at $35,711,797. 8.70% of the stock is owned by insiders.

Shares of NYSE:VG opened at $12.68 on Tuesday. The company has a market capitalization of $3.13 billion, a P/E ratio of 45.29, a P/E/G ratio of 7.21 and a beta of -0.06. The company has a quick ratio of 0.69, a current ratio of 0.70 and a debt-to-equity ratio of 0.35. Vonage Holdings Corp. has a one year low of $7.85 and a one year high of $14.73.

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

Vonage Company Profile

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.

Further Reading: Hedge Funds Explained

Want to see what other hedge funds are holding VG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vonage Holdings Corp. (NYSE:VG).

Institutional Ownership by Quarter for Vonage (NYSE:VG)

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