American Century Companies Inc. grew its position in shares of Vonage Holdings (NYSE:VG) by 1.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 746,093 shares of the technology company’s stock after buying an additional 13,426 shares during the quarter. American Century Companies Inc.’s holdings in Vonage were worth $7,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Vonage by 0.9% during the 4th quarter. BlackRock Inc. now owns 28,008,139 shares of the technology company’s stock worth $284,843,000 after purchasing an additional 261,883 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Vonage by 0.3% during the 4th quarter. First Trust Advisors LP now owns 6,503,508 shares of the technology company’s stock worth $66,141,000 after purchasing an additional 16,551 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Vonage by 92.3% during the 4th quarter. Millennium Management LLC now owns 2,989,008 shares of the technology company’s stock worth $30,398,000 after purchasing an additional 1,435,026 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of Vonage by 1.9% during the 4th quarter. Teachers Advisors LLC now owns 2,626,018 shares of the technology company’s stock worth $26,707,000 after purchasing an additional 48,936 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Vonage by 28.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,084,441 shares of the technology company’s stock worth $21,198,000 after purchasing an additional 458,117 shares in the last quarter. Hedge funds and other institutional investors own 84.13% of the company’s stock.
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In related news, Director Jeffrey A. Citron sold 500,000 shares of the firm’s stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $10.83, for a total value of $5,415,000.00. Following the sale, the director now directly owns 12,243,391 shares of the company’s stock, valued at $132,595,924.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Alan Masarek sold 165,804 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $10.29, for a total value of $1,706,123.16. Following the completion of the sale, the chief executive officer now directly owns 983,423 shares in the company, valued at $10,119,422.67. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 88,000 shares of company stock worth $18,690 and sold 2,445,736 shares worth $26,565,775. Company insiders own 8.70% of the company’s stock.
VG has been the topic of several analyst reports. William Blair reissued a “buy” rating on shares of Vonage in a report on Wednesday, May 16th. Zacks Investment Research raised Vonage from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Thursday, May 10th. ValuEngine raised Vonage from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Summit Redstone reissued a “hold” rating on shares of Vonage in a report on Friday, February 9th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $12.00 price objective (up from $11.00) on shares of Vonage in a research note on Thursday, February 22nd. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $10.63.
NYSE:VG opened at $11.53 on Tuesday. The stock has a market capitalization of $2.70 billion, a P/E ratio of 41.18, a price-to-earnings-growth ratio of 5.65 and a beta of 0.03. The company has a current ratio of 0.74, a quick ratio of 0.72 and a debt-to-equity ratio of 0.42. Vonage Holdings has a twelve month low of $6.28 and a twelve month high of $11.94.
Vonage (NYSE:VG) last released its quarterly earnings data on Tuesday, May 8th. The technology company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.05. The business had revenue of $253.60 million for the quarter, compared to analyst estimates of $251.76 million. Vonage had a positive return on equity of 16.84% and a negative net margin of 1.51%. Vonage’s revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $0.07 earnings per share. equities analysts predict that Vonage Holdings will post 0.4 EPS 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.
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