Sunday, June 26, 2022

Insider Selling: LALA VINOD, Vonage Holdings Corp. [VG] Chief Strategy Officer divested 71,543 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Vonage Holdings Corp. shares valued at $1,439,445 were sold by LALA VINOD on Mar 18. At $20.12 per share, LALA VINOD sold 71,543 shares. The insider’s holdings dropped to 83,156 shares worth approximately $1.4 million following the completion of this transaction.


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Also, LEVI DAVID sold 15,200 shares, netting a total of over 305,824 in proceeds. Following the sale of shares at $20.12 each, the insider now holds 80,193 shares.

Before that, Citron Jeffrey A had sold 25,000 shares from its account. In a trade valued at $501,000, the Director traded Vonage Holdings Corp. shares for $20.04 each. Upon closing the transaction, the insider’s holdings decreased to 25,000 shares, worth approximately $4.63 million.

As published in a research note from Craig Hallum on June 10, 2022, Vonage Holdings Corp. [VG] has been rated down from a Hold to a Sell and the price target has been revised to $14.50 from $21. This represents a -16.14% premium over Wednesday’s closing price. Analysts at Barclays downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in late November. As of November 05, 2021, JP Morgan has increased its “Neutral” rating to a “an Overweight” for VG. Earlier on October 21, 2021, Barclays initiated its rating. Their recommendation was “an Overweight” for VG stock.

Analyzing VG’s Price Performance

On Wednesday, Vonage Holdings Corp. [NASDAQ: VG] rose 0.42% to $16.84. The stock’s lowest price that day was $16.48, but it reached a high of $17.03 in the same session. During the last five days, there has been a drop of approximately -1.41%. Over the course of the year, Vonage Holdings Corp. shares have dropped approximately -19.00%. Shares of the company reached a 52-week high of $20.92 on 02/01/22 and a 52-week low of $15.51 on 06/17/22. A 50-day SMA is recorded $19.11, while a 200-day SMA reached $18.98. Nevertheless, trading volume fell to 3.29 million shares from 3.42 million shares the previous day.

Support And Resistance Levels for Vonage Holdings Corp. (VG)

According to the 24-hour chart, there is a support level at 16.54, which, if violated, would cause prices to drop to 16.23. In the upper region, resistance lies at 17.09. The next price resistance is at 17.33. RSI (Relative Strength Index) is 32.17 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.11, which suggests the price will decrease in the coming days. Percent R is at 66.92%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Vonage Holdings Corp. subject to short interest?

Stocks of Vonage Holdings Corp. saw a sharp steep in short interest on Apr 28, 2022 dropping by -13.0 million shares to 29.33 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 42.33 million shares. A decline of -44.32% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 8.77 of the overall float, the days-to-cover ratio (short ratio) decline to 8.77.

Which companies own the most shares of Vonage Holdings Corp. (VG)?

According to BlackRock Fund Advisors filings, the company currently owns 30,068,921 shares, which is about 11.72% of the total VG shares outstanding. The investor’s shares have appreciated by 536,535 from its previous 13-F filing of 29532386.0 shares. With the completion of the buy, The Vanguard Group, Inc.’s stake is now worth $531,467,494. JPMorgan Securities LLC acquire a 1,504.15% interest valued at $171.31 million while SSgA Funds Management, Inc. purchased a 349,884 stake. A total of 2,513,625 shares of Vonage Holdings Corp. were bought by Millennium Management LLC during the quarter, and 1,693,373 were bought by Bank of America, NA. In its current portfolio, Magnetar Financial LLC holds 6,049,816 shares valued at $117.18 million.

In terms of Vonage Holdings Corp. share price expectations, FactSet research, analysts set an average price target of $17.75 in the next 12 months, up nearly 5.84% from the previous closing price of $16.77. Analysts anticipate Vonage Holdings Corp. stock to reach $21.00 by 2022, with the lowest price target being $14.50. In spite of this, 2 analysts ranked Vonage Holdings Corp. stock as an Underweight at the end of 2022.

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