Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 500,000 shares of the firm’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $10.67, for a total transaction of $5,335,000.00. Following the completion of the sale, the director now owns 8,553,862 shares of the company’s stock, valued at approximately $91,269,707.54. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of NYSE VG traded up $0.07 during midday trading on Thursday, hitting $10.78. The company had a trading volume of 1,188,700 shares, compared to its average volume of 1,632,642. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.37. Vonage Holdings Corp. has a twelve month low of $9.65 and a twelve month high of $14.73. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 38.50, a price-to-earnings-growth ratio of 6.16 and a beta of -0.02.
Vonage (NYSE:VG) last announced its quarterly earnings data on Friday, November 2nd. The technology company reported $0.09 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.09. Vonage had a negative net margin of 1.22% and a positive return on equity of 17.66%. The firm had revenue of $261.53 million during the quarter, compared to analysts’ expectations of $263.91 million. During the same quarter last year, the business earned $0.07 earnings per share. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts expect that Vonage Holdings Corp. will post 0.35 EPS for the current fiscal year.
Several research firms have recently commented on VG. Dougherty & Co restated a “buy” rating and issued a $19.00 target price on shares of Vonage in a research note on Thursday. Zacks Investment Research upgraded shares of Vonage from a “sell” rating to a “hold” rating in a research note on Saturday, November 17th. William Blair reiterated an “outperform” rating on shares of Vonage in a research note on Monday, September 24th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price objective (up previously from $13.00) on shares of Vonage in a research note on Wednesday, August 1st. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Vonage currently has an average rating of “Buy” and an average target price of $15.00.
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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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