The Insider Selling: Vonage Holdings Corp. (VG) Director Sells 414,913 Shares of Stock

The Insider Selling: Vonage Holdings Corp. (VG) Director Sells 414,913 Shares of Stock

Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 414,913 shares of the firm’s stock in a transaction that occurred on Thursday, January 19th. The stock was sold at an average price of $7.45, for a total transaction of $3,091,101.85. Following the completion of the transaction, the director now directly owns 12,657,334 shares of the company’s stock, valued at $94,297,138.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Vonage Holdings Corp. (NYSE:VG) traded down 1.49% during mid-day trading on Thursday, hitting $7.26. 4,066,373 shares of the stock traded hands. Vonage Holdings Corp. has a 12 month low of $3.82 and a 12 month high of $7.88. The company has a market cap of $1.58 billion, a P/E ratio of 80.67 and a beta of 0.25. The company’s 50 day moving average is $7.05 and its 200 day moving average is $6.41.

Vonage Holdings Corp. (NYSE:VG) last released its quarterly earnings data on Wednesday, October 26th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.04. Vonage Holdings Corp. had a net margin of 2.27% and a return on equity of 17.99%. The firm earned $248.40 million during the quarter, compared to analysts’ expectations of $246.92 million. During the same period in the previous year, the company earned $0.07 earnings per share. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. On average, analysts expect that Vonage Holdings Corp. will post $0.33 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in VG. Whale Rock Capital Management LLC acquired a new stake in shares of Vonage Holdings Corp. during the third quarter worth approximately $15,460,000. BlackRock Fund Advisors boosted its stake in shares of Vonage Holdings Corp. by 27.1% in the second quarter. BlackRock Fund Advisors now owns 10,318,642 shares of the company’s stock worth $62,944,000 after buying an additional 2,199,788 shares in the last quarter. Ardsley Advisory Partners acquired a new stake in shares of Vonage Holdings Corp. during the third quarter worth approximately $10,259,000. Friess Associates LLC acquired a new stake in shares of Vonage Holdings Corp. during the second quarter worth approximately $7,320,000. Finally, FMR LLC boosted its stake in shares of Vonage Holdings Corp. by 55.4% in the second quarter. FMR LLC now owns 3,278,000 shares of the company’s stock worth $19,996,000 after buying an additional 1,169,110 shares in the last quarter. 76.24% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Vonage Holdings Corp. in a report on Friday, January 13th. Zacks Investment Research downgraded shares of Vonage Holdings Corp. from a “strong-buy” rating to a “hold” rating in a report on Saturday, October 29th. TheStreet downgraded shares of Vonage Holdings Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. Finally, William Blair reissued an “outperform” rating on shares of Vonage Holdings Corp. in a report on Friday, September 23rd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Vonage Holdings Corp. has a consensus rating of “Buy” and a consensus price target of $7.75.

About Vonage Holdings Corp.

Vonage Holdings Corp. is a provider of cloud communications services for businesses and consumers, and consumer and business communication solutions across multiple devices. For business services customers, the Company provides cloud-based unified communications as a service (UCaaS) solutions, consisting of integrated voice, text, video, data, collaboration and mobile applications over its scalable session initiation protocol (SIP)-based voice over Internet protocol (VoIP) network.

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