Vonage Holdings Corp. (NYSE:VG)’s share price was down 3.2% during trading on Wednesday . The stock traded as low as $5.72 and last traded at $5.74, with a volume of 2,245,018 shares changing hands. The stock had previously closed at $5.93.

Several equities analysts recently commented on VG shares. Zacks Investment Research upgraded Vonage Holdings Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, April 20th. TheStreet upgraded Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, June 14th. Citigroup Inc. upgraded Vonage Holdings Corp. from a “neutral” rating to a “buy” rating and upped their target price for the company from $4.75 to $8.00 in a research note on Tuesday, June 14th. William Blair reiterated a “buy” rating on shares of Vonage Holdings Corp. in a research note on Thursday, June 16th. Finally, Needham & Company LLC upped their target price on Vonage Holdings Corp. from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Tuesday, June 28th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Vonage Holdings Corp. presently has an average rating of “Buy” and a consensus target price of $7.19.

The company has a market capitalization of $1.24 billion and a P/E ratio of 80.70. The firm has a 50 day moving average of $5.87 and a 200 day moving average of $5.03.

Vonage Holdings Corp. (NYSE:VG) last announced its earnings results on Tuesday, August 2nd. The company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.01. The business had revenue of $234 million for the quarter, compared to analyst estimates of $226.48 million. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 earnings per share. On average, analysts expect that Vonage Holdings Corp. will post $0.28 EPS for the current fiscal year.

In related news, insider Mcgonigal Graham sold 64,248 shares of the stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $6.00, for a total value of $385,488.00. Following the completion of the transaction, the insider now directly owns 153,771 shares of the company’s stock, valued at approximately $922,626. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey A. Citron sold 101,640 shares of the stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $6.04, for a total value of $613,905.60. Following the completion of the transaction, the director now directly owns 12,644,516 shares of the company’s stock, valued at $76,372,876.64. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently bought and sold shares of VG. Rhumbline Advisers increased its position in Vonage Holdings Corp. by 3.8% in the fourth quarter. Rhumbline Advisers now owns 257,394 shares of the company’s stock valued at $1,477,000 after buying an additional 9,325 shares in the last quarter. Nationwide Fund Advisors increased its position in Vonage Holdings Corp. by 1.4% in the fourth quarter. Nationwide Fund Advisors now owns 196,521 shares of the company’s stock valued at $1,128,000 after buying an additional 2,770 shares in the last quarter. Redwood Investments LLC purchased a new position in Vonage Holdings Corp. during the fourth quarter valued at approximately $1,724,000. California Public Employees Retirement System increased 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 in the last quarter. Finally, Matarin Capital Management LLC purchased a new position in Vonage Holdings Corp. during the fourth quarter valued at approximately $2,803,000.

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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