Vonage Holdings Corp. (VG) Director Jeffrey A. Citron Sells 233,334 Shares

Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 233,334 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $10.03, for a total transaction of $2,340,340.02. Following the completion of the sale, the director now directly owns 8,558,801 shares of the company’s stock, valued at approximately $85,844,774.03. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Shares of VG traded down $0.02 during midday trading on Thursday, reaching $10.15. The stock had a trading volume of 4,156,904 shares, compared to its average volume of 2,813,554. Vonage Holdings Corp. has a 1-year low of $7.91 and a 1-year high of $14.73. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 31.72, a PEG ratio of 10.31 and a beta of 0.65. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 0.95.

Vonage (NYSE:VG) last announced its quarterly earnings results on Thursday, February 21st. The technology company reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.02). Vonage had a return on equity of 15.33% and a net margin of 3.41%. The company had revenue of $273.80 million for the quarter, compared to analyst estimates of $274.64 million. During the same quarter in the prior year, the business earned $0.09 earnings per share. Vonage’s revenue was up 7.8% compared to the same quarter last year. On average, analysts predict that Vonage Holdings Corp. will post 0.19 earnings per share for the current fiscal year.



A number of equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Vonage from a “sell” rating to a “hold” rating in a research report on Saturday, November 17th. Dougherty & Co reaffirmed a “buy” rating and set a $19.00 price objective on shares of Vonage in a research report on Thursday, November 29th. ValuEngine cut shares of Vonage from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 1st. Guggenheim assumed coverage on shares of Vonage in a research report on Monday. They set a “neutral” rating and a $10.00 price objective for the company. Finally, Stephens reaffirmed a “buy” rating and set a $14.00 price objective on shares of Vonage in a research report on Thursday, February 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $14.50.

A number of large investors have recently made changes to their positions in VG. Norges Bank purchased a new position in Vonage during the 4th quarter worth $31,218,000. Marshall Wace LLP boosted its holdings in shares of Vonage by 2,793.8% in the third quarter. Marshall Wace LLP now owns 1,308,598 shares of the technology company’s stock valued at $18,530,000 after acquiring an additional 1,263,378 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Vonage by 2.4% in the fourth quarter. BlackRock Inc. now owns 32,275,483 shares of the technology company’s stock valued at $281,766,000 after acquiring an additional 756,455 shares in the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in shares of Vonage in the fourth quarter valued at about $84,000. Finally, Millennium Management LLC boosted its holdings in shares of Vonage by 83.3% in the fourth quarter. Millennium Management LLC now owns 1,600,691 shares of the technology company’s stock valued at $13,974,000 after acquiring an additional 727,349 shares in the last quarter. Hedge funds and other institutional investors own 84.39% of the company’s stock.

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

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