Profund Advisors LLC raised its stake in Vonage Holdings Corp. (NYSE:VG) by 16.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 158,154 shares of the technology company’s stock after acquiring an additional 22,077 shares during the period. Profund Advisors LLC owned approximately 0.07% of Vonage Holdings Corp. worth $1,034,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its stake in shares of Vonage Holdings Corp. by 29.6% in the first quarter. Fifth Third Bancorp now owns 16,911 shares of the technology company’s stock worth $107,000 after acquiring an additional 3,863 shares during the last quarter. Quantitative Systematic Strategies LLC grew its stake in shares of Vonage Holdings Corp. by 19.0% in the second quarter. Quantitative Systematic Strategies LLC now owns 19,671 shares of the technology company’s stock worth $131,000 after acquiring an additional 3,136 shares during the last quarter. Karp Capital Management Corp purchased a new stake in shares of Vonage Holdings Corp. in the first quarter worth $126,000. Eqis Capital Management Inc. grew its stake in shares of Vonage Holdings Corp. by 4.2% in the second quarter. Eqis Capital Management Inc. now owns 20,043 shares of the technology company’s stock worth $131,000 after acquiring an additional 813 shares during the last quarter. Finally, Aperio Group LLC grew its stake in shares of Vonage Holdings Corp. by 2.2% in the second quarter. Aperio Group LLC now owns 20,387 shares of the technology company’s stock worth $133,000 after acquiring an additional 433 shares during the last quarter. 79.57% of the stock is currently owned by hedge funds and other institutional investors.

Vonage Holdings Corp. (NYSE:VG) opened at 7.99 on Friday. The stock’s 50 day moving average price is $7.98 and its 200-day moving average price is $6.92. The company has a market capitalization of $1.82 billion, a P/E ratio of 99.88 and a beta of -0.09. Vonage Holdings Corp. has a one year low of $5.74 and a one year high of $8.50.

Vonage Holdings Corp. (NYSE:VG) last announced its earnings results on Thursday, August 3rd. The technology company reported $0.06 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. Vonage Holdings Corp. had a return on equity of 12.40% and a net margin of 2.00%. The firm had revenue of $252.00 million for the quarter, compared to the consensus estimate of $242.05 million. During the same period in the previous year, the business earned $0.08 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts forecast that Vonage Holdings Corp. will post $0.26 EPS for the current year.

A number of brokerages have recently issued reports on VG. Citigroup Inc. reaffirmed a “buy” rating and set a $9.75 price target on shares of Vonage Holdings Corp. in a report on Wednesday, September 13th. Northland Securities reaffirmed a “buy” rating and set a $9.50 price target on shares of Vonage Holdings Corp. in a report on Tuesday, September 5th. Robert W. Baird reaffirmed a “buy” rating and set a $9.00 price target on shares of Vonage Holdings Corp. in a report on Friday, September 1st. BidaskClub raised Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Finally, Dougherty & Co lowered their price target on Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating on the stock in a report on Friday, August 4th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $8.89.

In other Vonage Holdings Corp. news, CFO David T. Pearson sold 198,350 shares of Vonage Holdings Corp. stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $8.07, for a total transaction of $1,600,684.50. Following the completion of the sale, the chief financial officer now owns 216,119 shares of the company’s stock, valued at approximately $1,744,080.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey A. Citron sold 414,913 shares of Vonage Holdings Corp. stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $7.99, for a total value of $3,315,154.87. Following the sale, the director now directly owns 12,670,751 shares of the company’s stock, valued at approximately $101,239,300.49. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,028,176 shares of company stock worth $8,280,784. 14.05% of the stock is owned by company insiders.

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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.

Institutional Ownership by Quarter for Vonage Holdings Corp. (NYSE:VG)

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