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.
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.
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.
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