Shares of Vonage Holdings Corp. (NYSE:VG) traded down 3.6% during mid-day trading on Tuesday . The stock traded as low as $5.84 and last traded at $5.86, with a volume of 1,473,317 shares trading hands. The stock had previously closed at $6.08.

A number of brokerages have recently weighed in on VG. Zacks Investment Research upgraded Vonage Holdings Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, April 20th. William Blair reiterated a “buy” rating on shares of Vonage Holdings Corp. in a research note on Thursday, June 16th. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Vonage Holdings Corp. in a research note on Wednesday, June 8th. Finally, Needham & Company LLC increased their target price on Vonage Holdings Corp. from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Tuesday, June 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $7.01.

The company has a 50-day moving average price of $5.45 and a 200-day moving average price of $4.92. The company has a market cap of $1.25 billion and a PE ratio of 54.35.

Vonage Holdings Corp. (NYSE:VG) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The company had revenue of $226.82 million for the quarter, compared to analyst estimates of $227.04 million. During the same quarter in the prior year, the business earned $0.10 earnings per share. Vonage Holdings Corp.’s revenue was up 3.2% on a year-over-year basis. Equities research analysts forecast that Vonage Holdings Corp. will post $0.30 earnings per share for the current year.

In other Vonage Holdings Corp. news, CEO Alan Masarek acquired 126,460 shares of the stock in a transaction dated Friday, May 13th. The stock was acquired at an average price of $3.91 per share, with a total value of $494,458.60. Following the completion of the purchase, the chief executive officer now owns 145,686 shares in the company, valued at approximately $569,632.26. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mcgonigal Graham sold 150,994 shares of the firm’s stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of $5.29, for a total transaction of $798,758.26. Following the completion of the transaction, the insider now directly owns 152,023 shares of the company’s stock, valued at approximately $804,201.67. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have bought and sold shares of the company. Matarin Capital Management LLC acquired a new position in Vonage Holdings Corp. during the fourth quarter valued at approximately $2,803,000. Redwood Investments LLC acquired a new position in Vonage Holdings Corp. during the fourth quarter valued at approximately $1,724,000. California Public Employees Retirement System raised its position in Vonage Holdings Corp. by 17.9% in the fourth quarter. California Public Employees Retirement System now owns 662,000 shares of the company’s stock valued at $3,800,000 after buying an additional 100,600 shares during the last quarter. New York State Common Retirement Fund raised its position in Vonage Holdings Corp. by 30.5% in the fourth quarter. New York State Common Retirement Fund now owns 325,529 shares of the company’s stock valued at $1,869,000 after buying an additional 76,102 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. raised its position in Vonage Holdings Corp. by 5.3% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 963,864 shares of the company’s stock valued at $5,533,000 after buying an additional 48,364 shares during the last quarter.

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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