Cwm LLC Purchases 96,887 Shares of Vonage Holdings Corp. (VG)

Cwm LLC increased its position in Vonage Holdings Corp. (NYSE:VG) by 23.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 505,077 shares of the technology company’s stock after acquiring an additional 96,887 shares during the quarter. Cwm LLC’s holdings in Vonage were worth $5,071,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in Vonage by 2.4% in the fourth quarter. BlackRock Inc. now owns 32,275,483 shares of the technology company’s stock valued at $281,766,000 after acquiring an additional 756,455 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Vonage by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,776,828 shares of the technology company’s stock worth $59,161,000 after buying an additional 111,267 shares in the last quarter. Norges Bank bought a new position in shares of Vonage during the 4th quarter worth approximately $31,218,000. Rothschild & Co. Asset Management US Inc. boosted its holdings in shares of Vonage by 0.8% during the 4th quarter. Rothschild & Co. Asset Management US Inc. now owns 2,944,442 shares of the technology company’s stock worth $25,705,000 after buying an additional 22,977 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Vonage by 6.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,912,837 shares of the technology company’s stock worth $41,245,000 after buying an additional 180,404 shares in the last quarter. 85.75% of the stock is owned by institutional investors.

In related news, Director Jeffrey A. Citron sold 400,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $10.09, for a total value of $4,036,000.00. Following the completion of the sale, the director now directly owns 8,558,801 shares of the company’s stock, valued at approximately $86,358,302.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Vinod Lala sold 2,867 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $10.29, for a total value of $29,501.43. Following the completion of the sale, the insider now directly owns 93,993 shares of the company’s stock, valued at $967,187.97. The disclosure for this sale can be found here. Insiders sold a total of 1,098,045 shares of company stock valued at $10,923,810 over the last three months. 8.70% of the stock is currently owned by insiders.

A number of equities analysts have recently weighed in on VG shares. Zacks Investment Research lowered Vonage from a “hold” rating to a “sell” rating in a research report on Saturday, January 5th. Summit Insights reaffirmed a “hold” rating on shares of Vonage in a research report on Thursday, April 4th. Stephens reaffirmed a “buy” rating and set a $14.00 target price on shares of Vonage in a research report on Thursday, February 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 target price on shares of Vonage in a research report on Monday, January 7th. Finally, Guggenheim began coverage on Vonage in a research report on Monday, March 11th. They set a “neutral” rating and a $10.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $14.50.

NYSE VG opened at $9.49 on Wednesday. The firm has a market capitalization of $2.22 billion, a P/E ratio of 29.66, a P/E/G ratio of 10.42 and a beta of 0.64. Vonage Holdings Corp. has a 12 month low of $7.91 and a 12 month high of $14.73. The company has a quick ratio of 0.62, a current ratio of 0.63 and a debt-to-equity ratio of 0.95.

Vonage (NYSE:VG) last released its quarterly earnings results on Thursday, February 21st. The technology company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The company had revenue of $273.80 million during the quarter, compared to analysts’ expectations of $274.64 million. Vonage had a net margin of 3.41% and a return on equity of 15.33%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 earnings per share. Equities analysts expect that Vonage Holdings Corp. will post 0.18 EPS for the current year.

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Vonage Company Profile

Vonage Holdings Corp. provides cloud communications services for businesses and consumers. It operates through two segments, Business and Consumer. The Business segment offers cloud-based Unified Communications as a Service solutions, such as integrated voice, text, video, data, collaboration, contact center, and mobile applications through flexible, scalable Session Initiation protocol based VoIP network; Communications Platform as a Service solutions to developers designed to enhance the businesses communicate with customers by embedding communications into apps, Websites, and business processes; and Vonage Business Cloud and Vonage Enterprise services.

Further Reading: Call Option Volume

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Institutional Ownership by Quarter for Vonage (NYSE:VG)

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