Traders Purchase Large Volume of Call Options on Vonage (VG)

Vonage Holdings Corp. (NYSE:VG) was the target of unusually large options trading on Wednesday. Investors acquired 9,059 call options on the stock. This represents an increase of 14,998% compared to the average daily volume of 60 call options.

Several equities analysts have commented on the company. Robert W. Baird increased their target price on Vonage from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Thursday. Zacks Investment Research upgraded Vonage from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Saturday, January 6th. Summit Redstone reiterated a “hold” rating on shares of Vonage in a research report on Friday, February 9th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 target price (up from $9.50) on shares of Vonage in a research report on Wednesday, November 8th. Finally, Craig Hallum reiterated a “buy” rating and issued a $11.00 target price (up from $10.00) on shares of Vonage in a research report on Tuesday, November 7th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $10.41.

Vonage (NYSE:VG) opened at $9.99 on Friday. Vonage has a 1 year low of $5.74 and a 1 year high of $11.65. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.63 and a current ratio of 0.64. The stock has a market capitalization of $2,280.00, a PE ratio of 66.60, a PEG ratio of 6.68 and a beta of -0.04.

Vonage (NYSE:VG) last issued its quarterly earnings data on Wednesday, February 21st. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.01). Vonage had a return on equity of 11.47% and a net margin of 2.14%. The company had revenue of $254.00 million for the quarter, compared to the consensus estimate of $254.19 million. During the same quarter last year, the business earned $0.03 earnings per share. Vonage’s revenue was up 2.9% compared to the same quarter last year. research analysts predict that Vonage will post 0.28 EPS for the current fiscal year.

In other Vonage news, Director Jeffrey A. Citron sold 238,303 shares of the stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $10.07, for a total value of $2,399,711.21. Following the completion of the transaction, the director now directly owns 10,680,286 shares in the company, valued at $107,550,480.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey A. Citron sold 138,303 shares of the stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $10.14, for a total value of $1,402,392.42. Following the completion of the transaction, the director now owns 10,676,047 shares of the company’s stock, valued at $108,255,116.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,306,435 shares of company stock valued at $13,365,596. 14.05% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of VG. Ameriprise Financial Inc. raised its position in shares of Vonage by 320.4% during the second quarter. Ameriprise Financial Inc. now owns 390,096 shares of the technology company’s stock worth $2,571,000 after acquiring an additional 297,302 shares during the last quarter. Northern Trust Corp raised its position in shares of Vonage by 11.9% during the second quarter. Northern Trust Corp now owns 2,656,002 shares of the technology company’s stock worth $17,370,000 after acquiring an additional 282,008 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Vonage by 2.2% during the second quarter. Vanguard Group Inc. now owns 20,177,322 shares of the technology company’s stock worth $131,960,000 after acquiring an additional 437,370 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Vonage by 54.2% during the second quarter. Parametric Portfolio Associates LLC now owns 744,774 shares of the technology company’s stock worth $4,871,000 after acquiring an additional 261,918 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Vonage by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,961,559 shares of the technology company’s stock worth $45,529,000 after acquiring an additional 54,570 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

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About Vonage

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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