Principal Financial Group Inc. lifted its holdings in Vonage Holdings Corp. (NYSE:VG) by 92.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,061 shares of the technology company’s stock after purchasing an additional 21,671 shares during the period. Principal Financial Group Inc.’s holdings in Vonage Holdings Corp. were worth $295,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. MARSHALL WACE ASIA Ltd purchased a new position in shares of Vonage Holdings Corp. in the 1st quarter valued at about $1,192,000. Federated Investors Inc. PA increased its stake in shares of Vonage Holdings Corp. by 13.9% in the 2nd quarter. Federated Investors Inc. PA now owns 2,004,456 shares of the technology company’s stock valued at $13,109,000 after purchasing an additional 243,979 shares in the last quarter. BlackRock Inc. increased its stake in shares of Vonage Holdings Corp. by 36,952.8% in the 1st quarter. BlackRock Inc. now owns 15,753,734 shares of the technology company’s stock valued at $99,564,000 after purchasing an additional 15,711,217 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Vonage Holdings Corp. by 10.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,176,570 shares of the technology company’s stock valued at $7,436,000 after purchasing an additional 110,837 shares in the last quarter. Finally, Marshall Wace North America L.P. increased its stake in shares of Vonage Holdings Corp. by 84.5% in the 2nd quarter. Marshall Wace North America L.P. now owns 366,579 shares of the technology company’s stock valued at $2,566,000 after purchasing an additional 167,854 shares in the last quarter. Hedge funds and other institutional investors own 79.57% of the company’s stock.

In other news, CFO David T. Pearson sold 198,350 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $8.07, for a total transaction of $1,600,684.50. Following the completion of the transaction, the chief financial officer now directly owns 216,119 shares of the company’s stock, valued at approximately $1,744,080.33. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey A. Citron sold 414,913 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 12,670,751 shares of the company’s stock, valued at $101,239,300.49. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,028,176 shares of company stock valued at $8,280,784. 14.05% of the stock is currently owned by corporate insiders.

Shares of Vonage Holdings Corp. (NYSE:VG) opened at 8.27 on Monday. Vonage Holdings Corp. has a 1-year low of $5.74 and a 1-year high of $8.69. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 103.38 and a beta of -0.11. The firm’s 50-day moving average price is $8.14 and its 200 day moving average price is $7.18.

Vonage Holdings Corp. (NYSE:VG) last issued its earnings results on Thursday, August 3rd. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.06. Vonage Holdings Corp. had a net margin of 2.00% and a return on equity of 12.40%. The company had revenue of $252.00 million during the quarter, compared to analysts’ expectations of $242.05 million. During the same period last year, the company posted $0.08 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts expect that Vonage Holdings Corp. will post $0.27 earnings per share for the current fiscal year.

Several brokerages recently weighed in on VG. BidaskClub upgraded Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. FBN Securities lowered Vonage Holdings Corp. from an “outperform” rating to a “sector perform” rating and set a $8.70 price target for the company. in a research note on Thursday, August 10th. Northland Securities restated a “buy” rating and issued a $9.50 price target on shares of Vonage Holdings Corp. in a research note on Thursday. Needham & Company LLC restated a “buy” rating and issued a $9.50 price target on shares of Vonage Holdings Corp. in a research note on Wednesday, September 27th. Finally, Zacks Investment Research upgraded Vonage Holdings Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $9.16.

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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.

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

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