Stone Ridge Asset Management LLC acquired a new stake in Vonage Holdings Corp. (NYSE:VG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 66,931 shares of the technology company’s stock, valued at approximately $681,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Vonage by 0.9% in the 4th quarter. BlackRock Inc. now owns 28,008,139 shares of the technology company’s stock valued at $284,843,000 after acquiring an additional 261,883 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Vonage by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,984,257 shares of the technology company’s stock valued at $56,853,000 after purchasing an additional 22,698 shares during the last quarter. First Trust Advisors LP lifted its stake in Vonage by 0.3% in the 4th quarter. First Trust Advisors LP now owns 6,503,508 shares of the technology company’s stock valued at $66,141,000 after purchasing an additional 16,551 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Vonage by 103.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,674,457 shares of the technology company’s stock valued at $21,769,000 after purchasing an additional 1,360,141 shares during the last quarter. Finally, Magnetar Financial LLC lifted its stake in Vonage by 4.4% in the 3rd quarter. Magnetar Financial LLC now owns 1,791,337 shares of the technology company’s stock valued at $14,581,000 after purchasing an additional 75,837 shares during the last quarter. Institutional investors own 86.26% of the company’s stock.
Shares of VG stock opened at $10.75 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.65 and a debt-to-equity ratio of 0.45. The stock has a market cap of $2,508.52, a P/E ratio of -67.19, a price-to-earnings-growth ratio of 6.03 and a beta of 0.09. Vonage Holdings Corp. has a 1 year low of $5.98 and a 1 year high of $11.65.
Several equities research analysts recently issued reports on the stock. Summit Redstone reiterated a “hold” rating on shares of Vonage in a research note on Friday, February 9th. Needham & Company LLC raised their target price on shares of Vonage from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Zacks Investment Research reiterated a “hold” rating and issued a $11.00 target price on shares of Vonage in a research note on Saturday, January 13th. Robert W. Baird reiterated an “outperform” rating and issued a $12.00 target price (up from $11.00) on shares of Vonage in a research note on Thursday, February 22nd. Finally, ValuEngine upgraded shares of Vonage from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $10.41.
In other Vonage news, SVP Valerie Kahn sold 9,826 shares of the firm’s stock in a transaction that occurred on Tuesday, March 20th. The shares were sold at an average price of $10.81, for a total transaction of $106,219.06. Following the completion of the sale, the senior vice president now directly owns 15,601 shares in the company, valued at $168,646.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey A. Citron sold 238,303 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $10.07, for a total transaction of $2,399,711.21. Following the sale, the director now owns 10,680,286 shares of the company’s stock, valued at $107,550,480.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 100,000 shares of company stock valued at $21,330 and have sold 2,228,591 shares valued at $23,400,007. Company insiders own 14.05% of the company’s stock.
Vonage Holdings Corp. is a provider of cloud communications services for businesses and consumers, and consumer and communication solutions across multiple devices. The Company operates through two segments: Business and Consumer. 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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