B. Riley Financial Inc. acquired a new stake in shares of Vonage Holdings Corp. (NYSE:VG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 307,500 shares of the technology company’s stock, valued at approximately $2,011,000. B. Riley Financial Inc. owned 0.14% of Vonage Holdings Corp. at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Fifth Third Bancorp grew its stake in shares of Vonage Holdings Corp. by 29.6% during the first quarter. Fifth Third Bancorp now owns 16,911 shares of the technology company’s stock valued at $107,000 after buying 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% during the second quarter. Quantitative Systematic Strategies LLC now owns 19,671 shares of the technology company’s stock valued at $131,000 after buying an additional 3,136 shares during the last quarter. Karp Capital Management Corp bought a new position in shares of Vonage Holdings Corp. during the first quarter valued at approximately $126,000. Eqis Capital Management Inc. grew its stake in shares of Vonage Holdings Corp. by 4.2% during the second quarter. Eqis Capital Management Inc. now owns 20,043 shares of the technology company’s stock valued at $131,000 after buying an additional 813 shares during the last quarter. Finally, Aperio Group LLC grew its stake in shares of Vonage Holdings Corp. by 2.2% during the second quarter. Aperio Group LLC now owns 20,387 shares of the technology company’s stock valued at $133,000 after buying an additional 433 shares during the last quarter. Institutional investors and hedge funds own 79.57% of the company’s stock.

Vonage Holdings Corp. (NYSE:VG) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.06 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. The business had revenue of $252.00 million during the quarter, compared to the consensus estimate of $242.05 million. Vonage Holdings Corp. had a net margin of 2.00% and a return on equity of 12.40%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.08 earnings per share.

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In other Vonage Holdings Corp. news, CFO David T. Pearson sold 198,350 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $8.07, for a total value of $1,600,684.50. Following the completion of the transaction, the chief financial officer now owns 216,119 shares in the company, valued at $1,744,080.33. The transaction 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 the business’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $7.99, for a total transaction of $3,315,154.87. Following the completion of the transaction, the director now 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. In the last 90 days, insiders sold 1,028,176 shares of company stock valued at $8,280,784. Insiders own 14.05% of the company’s stock.

Several research analysts recently issued reports on VG shares. Northland Securities reissued a “buy” rating and issued a $9.50 price objective on shares of Vonage Holdings Corp. in a research note on Tuesday, September 5th. BidaskClub raised Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Citigroup Inc. reissued a “buy” rating and issued a $9.75 price objective on shares of Vonage Holdings Corp. in a research note on Wednesday, September 13th. FBN Securities cut Vonage Holdings Corp. from an “outperform” rating to a “sector perform” rating and set a $8.70 price objective on the stock. in a research note on Thursday, August 10th. Finally, Zacks Investment Research raised Vonage Holdings Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $8.89.

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.

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

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