Systematic Financial Management LP raised its position in shares of Vonage Holdings Corp. (NYSE:VG) by 6.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 315,893 shares of the company’s stock after buying an additional 20,290 shares during the period. Systematic Financial Management LP owned about 0.15% of Vonage Holdings Corp. worth $1,926,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new stake in Vonage Holdings Corp. during the first quarter worth $3,175,000. Virginia Retirement System acquired a new stake in Vonage Holdings Corp. during the first quarter worth $284,000. Pacad Investment Ltd. boosted its stake in Vonage Holdings Corp. by 487.9% in the first quarter. Pacad Investment Ltd. now owns 141,100 shares of the company’s stock worth $645,000 after buying an additional 117,100 shares during the period. TIAA CREF Investment Management LLC boosted its stake in Vonage Holdings Corp. by 7.8% in the first quarter. TIAA CREF Investment Management LLC now owns 1,834,985 shares of the company’s stock worth $8,386,000 after buying an additional 133,061 shares during the period. Finally, Prudential Financial Inc. boosted its stake in Vonage Holdings Corp. by 105.9% in the first quarter. Prudential Financial Inc. now owns 472,355 shares of the company’s stock worth $2,158,000 after buying an additional 242,898 shares during the period. 73.59% of the stock is currently owned by institutional investors.

Vonage Holdings Corp. (NYSE:VG) traded down 1.011% during trading on Tuesday, reaching $6.365. 1,422,220 shares of the company’s stock traded hands. The firm’s 50 day moving average is $5.95 and its 200 day moving average is $5.19. Vonage Holdings Corp. has a 12 month low of $3.82 and a 12 month high of $7.42. The company has a market cap of $1.38 billion, a P/E ratio of 89.648 and a beta of 1.05.

Vonage Holdings Corp. (NYSE:VG) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.01. Vonage Holdings Corp. had a net margin of 1.71% and a return on equity of 17.58%. The business had revenue of $234 million for the quarter, compared to analyst estimates of $226.48 million. During the same period in the prior year, the business posted $0.09 earnings per share. Vonage Holdings Corp.’s revenue was up 5.3% compared to the same quarter last year. Analysts anticipate that Vonage Holdings Corp. will post $0.28 EPS for the current year.

A number of research analysts recently commented on VG shares. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Vonage Holdings Corp. in a research note on Wednesday, June 8th. Citigroup Inc. upgraded shares of Vonage Holdings Corp. from a “neutral” rating to a “buy” rating and raised their price objective for the company from $4.75 to $8.00 in a research note on Tuesday, June 14th. TheStreet upgraded shares of Vonage Holdings Corp. from a “hold” rating to a “buy” rating 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 raised their price objective on shares of 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 analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $7.38.

In related news, Director Jeffrey A. Citron sold 101,640 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 12,644,516 shares in the company, valued at $76,372,876.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey A. Citron sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $6.08, for a total transaction of $6,080,000.00. Following the completion of the transaction, the director now owns 12,644,516 shares in the company, valued at $76,878,657.28. The disclosure for this sale can be found here. 14.59% of the stock is currently owned by corporate insiders.

About Vonage Holdings Corp.

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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