Vonage Holdings Corp. (NASDAQ:VG) Director Sells $510,250.00 in Stock

Vonage Holdings Corp. (NASDAQ:VG) Director Jeffrey A. Citron sold 25,000 shares of the business’s stock in a transaction on Monday, November 22nd. The shares were sold at an average price of $20.41, for a total transaction of $510,250.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

  • On Monday, September 13th, Jeffrey A. Citron sold 81,900 shares of Vonage stock. The shares were sold at an average price of $15.35, for a total transaction of $1,257,165.00.
  • On Tuesday, September 7th, Jeffrey A. Citron sold 18,100 shares of Vonage stock. The stock was sold at an average price of $15.00, for a total transaction of $271,500.00.

Shares of NASDAQ:VG opened at $20.66 on Thursday. The company has a market cap of $5.22 billion, a price-to-earnings ratio of -295.10, a price-to-earnings-growth ratio of 21.67 and a beta of 0.63. The company has a 50-day moving average price of $16.53 and a 200-day moving average price of $14.95. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.73. Vonage Holdings Corp. has a 12 month low of $10.85 and a 12 month high of $20.82.

Vonage (NASDAQ:VG) last issued its quarterly earnings data on Thursday, November 4th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. The firm had revenue of $358.34 million during the quarter, compared to the consensus estimate of $347.37 million. Vonage had a negative net margin of 1.19% and a positive return on equity of 6.56%. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.07 earnings per share. As a group, research analysts forecast that Vonage Holdings Corp. will post 0.17 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the company. Comerica Bank increased its position in shares of Vonage by 135.6% during the third quarter. Comerica Bank now owns 520,294 shares of the company’s stock valued at $7,685,000 after buying an additional 299,468 shares during the period. Park West Asset Management LLC increased its position in shares of Vonage by 31.1% during the third quarter. Park West Asset Management LLC now owns 12,588,623 shares of the company’s stock valued at $202,929,000 after buying an additional 2,982,843 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Vonage during the third quarter valued at about $275,000. Thrivent Financial for Lutherans increased its position in shares of Vonage by 5.4% during the third quarter. Thrivent Financial for Lutherans now owns 203,577 shares of the company’s stock valued at $3,282,000 after buying an additional 10,398 shares during the period. Finally, Bullseye Asset Management LLC increased its position in shares of Vonage by 14.2% during the third quarter. Bullseye Asset Management LLC now owns 472,983 shares of the company’s stock valued at $7,625,000 after buying an additional 58,712 shares during the period. 94.01% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on VG shares. Craig Hallum downgraded shares of Vonage from a “buy” rating to a “hold” rating in a report on Monday. KeyCorp lifted their price objective on shares of Vonage from $17.00 to $19.00 and gave the stock an “overweight” rating in a report on Friday, November 5th. Robert W. Baird downgraded shares of Vonage from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $22.00 to $21.00 in a report on Tuesday. JPMorgan Chase & Co. downgraded shares of Vonage from an “overweight” rating to a “neutral” rating in a research note on Monday. Finally, Jefferies Financial Group boosted their price target on shares of Vonage from $17.00 to $21.00 and gave the stock a “hold” rating in a research note on Monday. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $18.00.

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.

Further Reading: Catch-Up Contributions

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

Receive News & Ratings for Vonage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vonage and related companies with MarketBeat.com's FREE daily email newsletter.