Bessemer Group Inc. Has $1.19 Million Stake in Vonage Holdings Corp. (NYSE:VG)

Bessemer Group Inc. raised its holdings in shares of Vonage Holdings Corp. (NYSE:VG) by 115.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 117,100 shares of the technology company’s stock after purchasing an additional 62,800 shares during the quarter. Bessemer Group Inc. owned 0.05% of Vonage worth $1,191,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in VG. World Asset Management Inc bought a new stake in shares of Vonage in the 3rd quarter worth about $112,000. Bank of Montreal Can lifted its holdings in shares of Vonage by 103.4% in the 4th quarter. Bank of Montreal Can now owns 12,948 shares of the technology company’s stock worth $131,000 after acquiring an additional 6,581 shares during the last quarter. CIBC Asset Management Inc bought a new stake in shares of Vonage in the 3rd quarter worth about $148,000. Amalgamated Bank lifted its holdings in shares of Vonage by 11.7% in the 2nd quarter. Amalgamated Bank now owns 26,757 shares of the technology company’s stock worth $175,000 after acquiring an additional 2,805 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Vonage in the 3rd quarter worth about $177,000. Institutional investors and hedge funds own 83.97% of the company’s stock.

Vonage Holdings Corp. (NYSE VG) opened at $10.86 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.63 and a debt-to-equity ratio of 0.51. The company has a market cap of $2,446.78, a PE ratio of 135.77, a price-to-earnings-growth ratio of 6.29 and a beta of -0.04. Vonage Holdings Corp. has a 12-month low of $5.74 and a 12-month high of $11.32.

In other Vonage news, Director Jeffrey A. Citron sold 514,913 shares of the firm’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $10.37, for a total transaction of $5,339,647.81. Following the transaction, the director now owns 10,680,286 shares of the company’s stock, valued at approximately $110,754,565.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey A. Citron sold 414,916 shares of the firm’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $10.18, for a total transaction of $4,223,844.88. Following the transaction, the director now directly owns 10,676,047 shares in the company, valued at approximately $108,682,158.46. The disclosure for this sale can be found here. Insiders have sold a total of 1,324,213 shares of company stock worth $13,539,110 in the last three months. Insiders own 14.05% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. Robert W. Baird reiterated a “buy” rating and set a $11.00 price objective on shares of Vonage in a report on Wednesday, January 3rd. Craig Hallum reiterated a “buy” rating and set a $11.00 price objective (up previously from $10.00) on shares of Vonage in a report on Tuesday, November 7th. Zacks Investment Research upgraded shares of Vonage from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Saturday, January 6th. Citigroup reiterated a “buy” rating and set a $11.00 price objective on shares of Vonage in a report on Wednesday, November 8th. They noted that the move was a valuation call. Finally, Needham & Company LLC lifted their price objective on shares of Vonage from $10.00 to $12.00 and gave the company a “buy” rating in a report on Monday, December 11th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Vonage currently has a consensus rating of “Buy” and an average target price of $10.30.

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Vonage 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.

Institutional Ownership by Quarter for Vonage (NYSE:VG)

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