Harel Insurance Investments & Financial Services Ltd. Has $30,000 Stock Position in Vonage Holdings Corp. (NASDAQ:VG)

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Harel Insurance Investments & Financial Services Ltd. reduced its stake in shares of Vonage Holdings Corp. (NASDAQ:VGGet Rating) by 48.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,481 shares of the company’s stock after selling 1,381 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Vonage were worth $30,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Natixis Advisors L.P. raised its holdings in Vonage by 60.8% during the 4th quarter. Natixis Advisors L.P. now owns 51,363 shares of the company’s stock worth $1,068,000 after buying an additional 19,419 shares during the period. Alpine Associates Management Inc. acquired a new stake in Vonage during the 4th quarter worth approximately $26,313,000. Kellner Capital LLC bought a new position in shares of Vonage during the 4th quarter worth approximately $293,000. Teacher Retirement System of Texas grew its stake in shares of Vonage by 28.5% during the 4th quarter. Teacher Retirement System of Texas now owns 46,333 shares of the company’s stock worth $963,000 after acquiring an additional 10,271 shares in the last quarter. Finally, Gladius Capital Management LP grew its stake in shares of Vonage by 57.9% during the 1st quarter. Gladius Capital Management LP now owns 14,636 shares of the company’s stock worth $297,000 after acquiring an additional 5,365 shares in the last quarter. 91.36% of the stock is currently owned by institutional investors and hedge funds.

Vonage Price Performance

NASDAQ:VG opened at $20.99 on Tuesday. Vonage Holdings Corp. has a 1-year low of $12.85 and a 1-year high of $21.00. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82. The firm has a fifty day simple moving average of $18.98 and a 200 day simple moving average of $19.79. The stock has a market capitalization of $5.39 billion, a PE ratio of -123.46 and a beta of 0.60.

Vonage (NASDAQ:VGGet Rating) last released its earnings results on Thursday, May 5th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.06). Vonage had a negative net margin of 2.87% and a positive return on equity of 2.53%. The firm had revenue of $358.80 million during the quarter, compared to the consensus estimate of $367.15 million. During the same period in the prior year, the business posted $0.05 earnings per share. Vonage’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, research analysts expect that Vonage Holdings Corp. will post 0.11 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Craig Hallum cut shares of Vonage from a “hold” rating to a “sell” rating and decreased their price target for the stock from $21.00 to $14.50 in a research note on Friday, June 10th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $18.94.

About Vonage

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Vonage Holdings Corp. primarily operates as a cloud communications company in the United States, Canada, the United Kingdom, the European Union, and Asia. It operates in two segments, Vonage Communications Platform and Consumer. The Vonage Communications Platform segment offers programmable, embeddable, and customizable application program interfaces that enable software developers to build communications capabilities, such as messaging and voice calling within their applications; and Vonage Contact Center, a cloud contact center solution.

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