Cambridge Investment Research Advisors Inc. Sells 1,629 Shares of Vonage Holdings Corp. (NASDAQ:VG)

Cambridge Investment Research Advisors Inc. lessened its stake in shares of Vonage Holdings Corp. (NASDAQ:VG) by 7.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,463 shares of the company’s stock after selling 1,629 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Vonage were worth $314,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. increased its stake in shares of Vonage by 19.6% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 94,576 shares of the company’s stock valued at $950,000 after purchasing an additional 15,500 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Vonage by 104.4% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 250,664 shares of the company’s stock valued at $3,612,000 after purchasing an additional 128,028 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Vonage by 1.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,672,680 shares of the company’s stock valued at $24,103,000 after purchasing an additional 24,554 shares during the last quarter. CWM Advisors LLC increased its stake in shares of Vonage by 3.1% in the 2nd quarter. CWM Advisors LLC now owns 25,542 shares of the company’s stock valued at $368,000 after purchasing an additional 774 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Vonage in the 2nd quarter valued at $243,000. Hedge funds and other institutional investors own 93.87% of the company’s stock.

Shares of NASDAQ:VG opened at $20.82 on Friday. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of -297.39, a P/E/G ratio of 19.95 and a beta of 0.58. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.84 and a quick ratio of 0.84. The business’s 50-day moving average is $19.99 and its 200-day moving average is $16.68. Vonage Holdings Corp. has a 1 year low of $10.85 and a 1 year high of $20.87.

Vonage (NASDAQ:VG) last announced its quarterly earnings data on Thursday, November 4th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. The company had revenue of $358.34 million for the quarter, compared to the consensus estimate of $347.37 million. Vonage had a positive return on equity of 6.56% and a negative net margin of 1.19%. The firm’s revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.07 EPS. Analysts anticipate that Vonage Holdings Corp. will post 0.17 EPS for the current year.

Several brokerages have recently issued reports on VG. Zacks Investment Research lowered Vonage from a “hold” rating to a “sell” rating in a research note on Friday, January 7th. William Blair lowered Vonage from an “outperform” rating to a “market perform” rating in a research report on Monday, November 22nd. Jefferies Financial Group boosted their price objective on Vonage from $17.00 to $21.00 and gave the stock a “hold” rating in a research report on Monday, November 22nd. JPMorgan Chase & Co. lowered Vonage from an “overweight” rating to a “neutral” rating in a research report on Monday, November 22nd. Finally, Colliers Securities lowered Vonage from a “buy” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a research report on Monday, November 22nd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $18.56.

In related news, Director Jeffrey A. Citron sold 1,301,522 shares of the company’s stock in a transaction that occurred on Wednesday, November 24th. The stock was sold at an average price of $20.68, for a total transaction of $26,915,474.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey A. Citron sold 1,054,639 shares of the company’s stock in a transaction that occurred on Friday, November 26th. The stock was sold at an average price of $20.70, for a total value of $21,831,027.30. The disclosure for this sale can be found here. Insiders sold a total of 3,577,109 shares of company stock worth $74,015,376 over the last three months. 4.72% of the stock is owned by company insiders.

Vonage Profile

Vonage Holdings Corp. engages in the provision of communication services through cloud-connected devices. It operates through the Business and Consumer segments. The Business segment provides cloud-based Unified Communications as a Service (UCaaS) solutions, which comprises of integrated voice, text, video, data, collaboration, and mobile applications over its scalable Session Initiation Protocol based Voice over Internet Protocol network.

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Institutional Ownership by Quarter for Vonage (NASDAQ:VG)

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