Vonage Holdings Corp. (NYSE:VG) posted its quarterly earnings results on Thursday. The technology company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06, Bloomberg Earnings reports. Vonage Holdings Corp. had a return on equity of 12.68% and a net margin of 2.00%. The business had revenue of $252 million for the quarter, compared to the consensus estimate of $242.05 million. During the same period in the prior year, the business earned $0.08 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis.

Vonage Holdings Corp. (NYSE VG) opened at 7.66 on Friday. Vonage Holdings Corp. has a 1-year low of $5.43 and a 1-year high of $7.88. The company’s 50-day moving average price is $6.63 and its 200-day moving average price is $6.59. The firm has a market capitalization of $1.70 billion, a P/E ratio of 125.57 and a beta of -0.01.

In other news, CFO David T. Pearson sold 666,666 shares of Vonage Holdings Corp. stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $7.00, for a total transaction of $4,666,662.00. Following the completion of the transaction, the chief financial officer now directly owns 948,241 shares in the company, valued at $6,637,687. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David T. Pearson sold 2,000,000 shares of Vonage Holdings Corp. stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $7.00, for a total transaction of $14,000,000.00. Following the transaction, the chief financial officer now owns 948,241 shares of the company’s stock, valued at $6,637,687. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,069,375 shares of company stock worth $28,295,719. Insiders own 14.05% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in VG. Swiss National Bank raised its position in Vonage Holdings Corp. by 2.7% in the first quarter. Swiss National Bank now owns 320,500 shares of the technology company’s stock valued at $2,026,000 after buying an additional 8,500 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Vonage Holdings Corp. by 65.3% in the first quarter. BNP Paribas Arbitrage SA now owns 53,153 shares of the technology company’s stock valued at $336,000 after buying an additional 21,001 shares during the last quarter. Suntrust Banks Inc. raised its position in Vonage Holdings Corp. by 2.4% in the first quarter. Suntrust Banks Inc. now owns 31,164 shares of the technology company’s stock valued at $196,000 after buying an additional 718 shares during the last quarter. First Trust Advisors LP raised its position in Vonage Holdings Corp. by 23.0% in the first quarter. First Trust Advisors LP now owns 6,400,018 shares of the technology company’s stock valued at $40,448,000 after buying an additional 1,197,141 shares during the last quarter. Finally, Eqis Capital Management Inc. raised its position in Vonage Holdings Corp. by 19.8% in the first quarter. Eqis Capital Management Inc. now owns 19,230 shares of the technology company’s stock valued at $122,000 after buying an additional 3,176 shares during the last quarter. Hedge funds and other institutional investors own 77.35% of the company’s stock.

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A number of research analysts recently weighed in on the company. Dougherty & Co dropped their price target on Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating on the stock in a research note on Friday. William Blair reaffirmed a “buy” rating on shares of Vonage Holdings Corp. in a research note on Thursday, May 4th. Finally, Zacks Investment Research raised Vonage Holdings Corp. from a “hold” rating to a “buy” rating and set a $7.75 price target on the stock in a research note on Thursday, May 11th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $8.31.

Vonage Holdings Corp. Company Profile

Vonage Holdings Corp. is a provider of cloud communications services for businesses and consumers, and consumer and communication solutions across multiple devices. The Company operates through two segments: Business and Consumer. 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.

Earnings History for Vonage Holdings Corp. (NYSE:VG)

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