Oppenheimer & Co. Inc. Invests $193,000 in Vonage Holdings Corp. (NYSE:VG)

Oppenheimer & Co. Inc. acquired a new position in shares of Vonage Holdings Corp. (NYSE:VG) during the first quarter, Holdings Channel reports. The firm acquired 30,530 shares of the technology company’s stock, valued at approximately $193,000.

A number of other large investors have also modified their holdings of VG. Thompson Davis & CO. Inc. raised its position in shares of Vonage Holdings Corp. by 0.3% in the first quarter. Thompson Davis & CO. Inc. now owns 41,750 shares of the technology company’s stock valued at $264,000 after buying an additional 125 shares during the last quarter. Suntrust Banks Inc. raised its position in shares of Vonage Holdings Corp. by 2.4% in the first quarter. Suntrust Banks Inc. now owns 31,164 shares of the technology company’s stock valued at $196,000 after buying an additional 718 shares during the last quarter. Sei Investments Co. raised its position in shares of Vonage Holdings Corp. by 1.3% in the first quarter. Sei Investments Co. now owns 109,026 shares of the technology company’s stock valued at $689,000 after buying an additional 1,409 shares during the last quarter. Strs Ohio raised its position in shares of Vonage Holdings Corp. by 1.3% in the first quarter. Strs Ohio now owns 145,000 shares of the technology company’s stock valued at $916,000 after buying an additional 1,800 shares during the last quarter. Finally, Eqis Capital Management Inc. raised its position in shares of Vonage Holdings Corp. by 19.8% in the first quarter. Eqis Capital Management Inc. now owns 19,230 shares of the technology company’s stock valued at $122,000 after buying an additional 3,176 shares during the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Vonage Holdings Corp. (VG) opened at 6.46 on Monday. The company’s 50-day moving average price is $6.82 and its 200-day moving average price is $6.69. Vonage Holdings Corp. has a 52-week low of $5.43 and a 52-week high of $7.88. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 105.90 and a beta of -0.01.

Vonage Holdings Corp. (NYSE:VG) last released its quarterly earnings data on Tuesday, May 9th. The technology company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. Vonage Holdings Corp. had a return on equity of 13.56% and a net margin of 1.63%. The company had revenue of $243.30 million for the quarter, compared to analyst estimates of $242.40 million. During the same period in the prior year, the company posted $0.11 EPS. The company’s revenue was up 7.3% compared to the same quarter last year. Analysts predict that Vonage Holdings Corp. will post $0.27 EPS for the current year.

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Several brokerages have recently commented on VG. Zacks Investment Research upgraded Vonage Holdings Corp. from a “hold” rating to a “buy” rating and set a $7.75 target price for the company in a research report on Thursday, May 11th. William Blair reiterated a “buy” rating on shares of Vonage Holdings Corp. in a research report on Thursday, May 4th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $8.15.

In related news, SVP Mcgonigal Graham sold 40,000 shares of the stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $6.76, for a total transaction of $270,400.00. Following the sale, the senior vice president now directly owns 275,096 shares in the company, valued at approximately $1,859,648.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO David T. Pearson sold 2,000,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $7.00, for a total value of $14,000,000.00. Following the sale, the chief financial officer now owns 948,241 shares in the company, valued at $6,637,687. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,484,891 shares of company stock worth $31,029,473. Corporate insiders own 14.05% of the company’s stock.

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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