Oppenheimer & Co. Inc. Sells 13,109 Shares of Vonage Holdings Corp. (VG)

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Oppenheimer & Co. Inc. reduced its holdings in shares of Vonage Holdings Corp. (NYSE:VG) by 36.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,636 shares of the technology company’s stock after selling 13,109 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Vonage were worth $321,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. UBS Group AG grew its stake in Vonage by 5.3% during the 1st quarter. UBS Group AG now owns 156,894 shares of the technology company’s stock valued at $1,670,000 after purchasing an additional 7,940 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in Vonage by 61.6% during the 1st quarter. Xact Kapitalforvaltning AB now owns 32,264 shares of the technology company’s stock valued at $344,000 after purchasing an additional 12,300 shares in the last quarter. Principal Financial Group Inc. grew its stake in Vonage by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 1,632,710 shares of the technology company’s stock valued at $17,388,000 after purchasing an additional 40,126 shares in the last quarter. Brown Advisory Inc. acquired a new stake in Vonage during the 1st quarter valued at approximately $149,000. Finally, Louisiana State Employees Retirement System grew its stake in Vonage by 4.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 96,800 shares of the technology company’s stock valued at $1,248,000 after purchasing an additional 4,500 shares in the last quarter. Institutional investors own 85.29% of the company’s stock.

In related news, CEO Alan Masarek sold 500,000 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $14.32, for a total transaction of $7,160,000.00. Following the completion of the transaction, the chief executive officer now owns 495,189 shares in the company, valued at approximately $7,091,106.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David T. Pearson sold 159,000 shares of the business’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $13.48, for a total value of $2,143,320.00. Following the transaction, the chief financial officer now owns 255,009 shares of the company’s stock, valued at approximately $3,437,521.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,345,329 shares of company stock valued at $32,961,939. Insiders own 8.70% of the company’s stock.

A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Vonage from a “sell” rating to a “hold” rating in a research note on Friday, August 24th. William Blair reiterated an “outperform” rating on shares of Vonage in a research report on Monday, September 24th. Citigroup lifted their target price on Vonage to $16.00 and gave the stock a “buy” rating in a research report on Monday, July 16th. They noted that the move was a valuation call. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price (up previously from $13.00) on shares of Vonage in a research report on Wednesday, August 1st. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Vonage presently has a consensus rating of “Buy” and a consensus price target of $14.00.

Shares of VG opened at $11.22 on Friday. The company has a market capitalization of $2.74 billion, a PE ratio of 40.07, a PEG ratio of 6.57 and a beta of -0.02. The company has a quick ratio of 0.73, a current ratio of 0.75 and a debt-to-equity ratio of 0.37. Vonage Holdings Corp. has a 52 week low of $8.65 and a 52 week high of $14.73.

Vonage (NYSE:VG) last issued its earnings results on Friday, November 2nd. The technology company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The company had revenue of $261.53 million during the quarter, compared to analyst estimates of $263.91 million. Vonage had a positive return on equity of 17.66% and a negative net margin of 1.22%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 EPS. Equities analysts expect that Vonage Holdings Corp. will post 0.33 earnings per share for the current year.

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Vonage Profile

Vonage Holdings Corp. provides communications services connecting people through cloud-connected devices worldwide. It offers various business services, including basic dial tone, call queue, conferencing, call groups, mobile functionality, CRM integration, and detailed analytics, as well as Vonage Business Cloud and Vonage Enterprise services.

Read More: Analyzing a company’s cash flow statement

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Institutional Ownership by Quarter for Vonage (NYSE:VG)

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