Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 233,332 shares of the firm’s stock in a transaction dated Wednesday, October 17th. The shares were sold at an average price of $13.67, for a total transaction of $3,189,648.44. Following the transaction, the director now directly owns 9,053,862 shares in the company, valued at $123,766,293.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
VG opened at $13.45 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.69 and a current ratio of 0.70. Vonage Holdings Corp. has a fifty-two week low of $7.85 and a fifty-two week high of $14.73. The stock has a market cap of $3.25 billion, a P/E ratio of 39.94, a PEG ratio of 7.48 and a beta of -0.06.
Vonage (NYSE:VG) last released its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.07. Vonage had a negative net margin of 1.14% and a positive return on equity of 16.92%. The company had revenue of $260.00 million for the quarter, compared to analyst estimates of $254.95 million. During the same period last year, the firm earned $0.07 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. Equities research analysts predict that Vonage Holdings Corp. will post 0.36 EPS for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Seven Eight Capital LP bought a new stake in Vonage in the third quarter worth about $149,000. Meeder Asset Management Inc. raised its position in Vonage by 63.7% in the second quarter. Meeder Asset Management Inc. now owns 11,738 shares of the technology company’s stock worth $151,000 after acquiring an additional 4,566 shares during the period. Mount Yale Investment Advisors LLC bought a new stake in Vonage in the first quarter worth about $129,000. Element Capital Management LLC bought a new stake in Vonage in the first quarter worth about $136,000. Finally, Koch Industries Inc. bought a new stake in Vonage in the first quarter worth about $141,000. 85.00% of the stock is currently owned by institutional investors.
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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