The Vonage Holdings Corp. (VG) Stake Increased by BlackRock Inc.

The Vonage Holdings Corp. (VG) Stake Increased by BlackRock Inc.

BlackRock Inc. boosted its stake in Vonage Holdings Corp. (NYSE:VG) by 224.5% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 163,137 shares of the company’s stock after buying an additional 112,864 shares during the period. BlackRock Inc. owned approximately 0.07% of Vonage Holdings Corp. worth $1,079,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VG. Vanguard Group Inc. raised its stake in Vonage Holdings Corp. by 2.9% in the second quarter. Vanguard Group Inc. now owns 17,897,536 shares of the company’s stock valued at $109,174,000 after buying an additional 512,782 shares in the last quarter. BlackRock Fund Advisors raised its stake in Vonage Holdings Corp. by 27.1% in the second quarter. BlackRock Fund Advisors now owns 10,318,642 shares of the company’s stock valued at $62,944,000 after buying an additional 2,199,788 shares in the last quarter. First Trust Advisors LP raised its stake in Vonage Holdings Corp. by 7.5% in the third quarter. First Trust Advisors LP now owns 5,813,721 shares of the company’s stock valued at $38,429,000 after buying an additional 407,577 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Vonage Holdings Corp. by 8.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,860,622 shares of the company’s stock valued at $29,650,000 after buying an additional 393,085 shares in the last quarter. Finally, Emerald Advisers Inc. PA raised its stake in Vonage Holdings Corp. by 1.4% in the second quarter. Emerald Advisers Inc. PA now owns 4,850,651 shares of the company’s stock valued at $29,589,000 after buying an additional 65,410 shares in the last quarter. Hedge funds and other institutional investors own 76.24% of the company’s stock.

Vonage Holdings Corp. (NYSE:VG) traded down 1.49% during midday trading on Thursday, reaching $7.26. 4,066,373 shares of the company’s stock were exchanged. The stock has a market cap of $1.58 billion, a P/E ratio of 80.67 and a beta of 0.25. The firm’s 50-day moving average is $7.05 and its 200 day moving average is $6.41. Vonage Holdings Corp. has a 1-year low of $3.82 and a 1-year high of $7.88.

Vonage Holdings Corp. (NYSE:VG) last posted its earnings results on Wednesday, October 26th. The company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.04. The business earned $248.40 million during the quarter, compared to analyst estimates of $246.92 million. Vonage Holdings Corp. had a return on equity of 17.99% and a net margin of 2.27%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.07 EPS. Equities analysts anticipate that Vonage Holdings Corp. will post $0.33 earnings per share for the current fiscal year.

Several research firms recently commented on VG. Zacks Investment Research raised shares of Vonage Holdings Corp. from a “hold” rating to a “buy” rating and set a $7.25 target price for the company in a research note on Thursday, October 6th. Needham & Company LLC restated a “buy” rating and issued a $9.00 price target on shares of Vonage Holdings Corp. in a research report on Friday, January 13th. William Blair restated an “outperform” rating on shares of Vonage Holdings Corp. in a research report on Friday, September 23rd. Finally, TheStreet downgraded shares of Vonage Holdings Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Vonage Holdings Corp. currently has an average rating of “Buy” and an average target price of $7.75.

In other news, Director Jeffrey A. Citron sold 500,000 shares of the business’s stock in a transaction dated Thursday, December 22nd. The stock was sold at an average price of $6.96, for a total transaction of $3,480,000.00. Following the completion of the transaction, the director now owns 12,651,039 shares of the company’s stock, valued at $88,051,231.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Antoine Jamous sold 250,000 shares of the business’s stock in a transaction dated Tuesday, January 10th. The stock was sold at an average price of $7.48, for a total value of $1,870,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,014,913 shares of company stock valued at $21,207,602 in the last ninety days. Insiders own 14.59% of the company’s stock.

Vonage Holdings Corp. Company Profile

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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