The Chief Product Officer of Vonage Holdings (NYSE: VG) is Selling Shares

By Carrie Williams

Today, the Chief Product Officer of Vonage Holdings (NYSE: VG), Omar Muhammad Javaid, sold shares of VG for $73.34K.

In addition to Omar Muhammad Javaid, 2 other VG executives reported Sell trades in the last month. Following Omar Muhammad Javaid’s last VG Sell transaction on September 06, 2016, the stock climbed by 0.6%.

Based on Vonage Holdings’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $248 million and quarterly net profit of $9.08 million. In comparison, last year the company earned revenue of $223 million and had a net profit of $3.43 million. VG’s market cap is $1.38B and the company has a P/E ratio of 68.28. The company has a one year high of $7.57 and a one year low of $3.82.

Based on 6 analyst ratings, the analyst consensus is Strong Buy with an average price target of $8.60, reflecting a -24.9% downside.

In the last 30 days, insiders have sold $73.34K worth of VG shares and purchased $1.68M worth of VG shares. The insider sentiment on Vonage Holdings has been negative according to 54 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

Vonage Holdings Corp. engages in the provision of communication services through cloud-connected devices worldwide. It provides residential and business communication solutions that offer flexibility, portability and ease-of-use for both landline and mobile phones. The company was founded by Jeffrey Adam Citron on May 1, 2000 and is headquartered in Holmdel, NJ.