Quantbot Technologies LP purchased a new stake in Vonage Holdings Corp. (NYSE:VG) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 39,209 shares of the technology company’s stock, valued at approximately $555,000.

Other hedge funds have also made changes to their positions in the company. Schwab Charles Investment Management Inc. lifted its position in shares of Vonage by 5.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,506,976 shares of the technology company’s stock worth $19,425,000 after purchasing an additional 74,138 shares in the last quarter. Moody Aldrich Partners LLC bought a new stake in shares of Vonage in the second quarter worth $2,329,000. Essex Investment Management Co. LLC bought a new stake in shares of Vonage in the third quarter worth $1,466,000. Emerald Mutual Fund Advisers Trust lifted its position in shares of Vonage by 0.3% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 3,690,621 shares of the technology company’s stock worth $52,259,000 after purchasing an additional 9,349 shares in the last quarter. Finally, CSat Investment Advisory L.P. bought a new stake in shares of Vonage in the second quarter worth $1,433,000. 85.11% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently commented on VG shares. Zacks Investment Research raised shares of Vonage from a “sell” rating to a “hold” rating in a research report on Friday, August 24th. William Blair reissued an “outperform” rating on shares of Vonage in a research report on Monday, September 24th. Dougherty & Co reissued a “buy” rating and issued a $19.00 price objective on shares of Vonage in a research report on Thursday, November 29th. Finally, ValuEngine lowered shares of Vonage from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 1st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $15.00.

In related news, Director Jeffrey A. Citron sold 500,000 shares of the business’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $10.67, for a total transaction of $5,335,000.00. Following the transaction, the director now directly owns 8,553,862 shares in the company, valued at $91,269,707.54. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffrey A. Citron sold 233,332 shares of the business’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $14.43, for a total transaction of $3,366,980.76. Following the transaction, the director now owns 10,650,784 shares in the company, valued at $153,690,813.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,411,995 shares of company stock worth $31,232,935. 8.70% of the stock is owned by corporate insiders.

Shares of VG opened at $10.10 on Friday. The firm has a market cap of $2.41 billion, a P/E ratio of 36.07, a PEG ratio of 5.82 and a beta of -0.01. Vonage Holdings Corp. has a 1-year low of $9.65 and a 1-year high of $14.73. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.74 and a current ratio of 0.75.

Vonage (NYSE:VG) last issued its earnings results on Friday, November 2nd. The technology company reported $0.09 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.09. The business had revenue of $261.53 million for the quarter, compared to the consensus estimate of $263.91 million. Vonage had a negative net margin of 1.22% and a positive return on equity of 17.66%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.07 earnings per share. On average, analysts predict that Vonage Holdings Corp. will post 0.35 earnings per share for the current year.

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About Vonage

Vonage Holdings Corp. provides communications services connecting people through cloud-connected devices worldwide. It offers various business services, including basic dial tone, call queue, conferencing, call groups, mobile functionality, CRM integration, and detailed analytics, as well as Vonage Business Cloud and Vonage Enterprise services.

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Institutional Ownership by Quarter for Vonage (NYSE:VG)

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