Insider Trading Fri 3/14/25

Notable purchases -- CEO adds to PSEC; notable sales -- Chief Commercial Officer active in CYTK

Buyers

• AGM Director bought 1,000 shares of Class C Non-Voting Common Stock worth approximately $196K.
• ARCB Chief Financial Officer bought 700 shares at $74.89 worth ~$52K.
• ARES Director bought 10,000 shares of Class A common stock at $141.00 to $141.49 worth approximately $1.4 mln.
• CIM Director bought 12,500 shares at $13.28 - $13.40 worth approximately $166K.
• CRGY Director bought 30,000 shares of Class A Common Stock at $10.30 - $10.75 worth approximately $317K.
• DK Chairman of the Board and one (1) Director bought 6,780 combined shares worth approximately $99K.
• FRST Director bought 10,000 shares at $9.94 - $10.00 worth approximately $100K.
• LYB Director bought 3,750 Class A Ordinary Shares at $72.04 - $72.06 worth approximately $270K.
• ONTF 10% owner Lynrock Lake and one (1) Director bought 122,766 shares combined at $5.54 - $5.84 worth approximately $696K.
• PSEC Chief Executive Officer bought 2,000,000 shares worth approximately $8.6 mln.
• PTEN President / Chief Executive Officer bought 25,000 shares at $7.88 - $7.89 worth approximately $197K.
• RAPP Chief Financial Officer and one (1) Director bought 16,000 shares combined worth approximately $162K.
• RF Director bought 2,300 shares at $21.175 worth approximately $49K.
• TNL President & Chief Executive Officer bought 2,000 shares at $46.64 - $46.66 worth ~$93K.
• UAN 10% owner Carl Icahn bought another 11,345 common units at $74.56 - $74.80 worth approximately $847K.
• VG Chief Executive Officer / Founder and Executive Co-Chairman Michael Sabel, Executive Co-Chairman / Founder Robert Pender, and one (1) Director bought 512,000 shares of Class A Common Stock at $9.60 - $10.88 worth nearly $5.3 mln.
• WSC Chief Operating Officer bought 5,000 shares at $29.14 - $29.15 worth approximately $146K.
• ZYME 10% owner bought 1,081,980 shares at $11.11 - $12.55 worth approximately $13.1 mln.

Sellers

• AR Senior Vice President - Accounting and Chief Accounting Officer sold 9,830 shares at $35.60 worth approximately $350K.
• CYTK EVP, Chief Commercial Officer sold 26,771 shares at $43.62 worth approximately $1.2 mln.
• FNA 10% owner MVM Partners sold 1,044,295 shares at $13.01 - $13.065 worth approximately $13.6 mln.
• HURN Director sold 3,067 shares at $143.01 - $145,51 worth approximately $442K.

-=Vonage (VG) to be acquired by Ericsson (ERIC) for $21.00 per share

 

Vonage to be acquired by Ericsson (ERIC) for $21.00 per share 

• Ericsson (ERIC) has entered into an agreement to acquire Vonage (VG) for $21 per share. This represents a total acquisition price of approximately $6.2 billion (Enterprise Value).
• The merger agreement was approved unanimously by the Board of Vonage. The transaction builds upon Ericsson's stated intent to expand globally in wireless enterprise, offering existing customers an increased share of a market valued at $700 billion by 2030.
• The transaction is expected to deliver near-term revenue synergy opportunities, including white-labelling and cross-selling of the combined product portfolio estimated to contribute $0.4 billion by 2025. Ericsson also expects to achieve some cost efficiencies following completion of the transaction.
• The transaction is expected to be accretive to EPS (excluding non-cash amortization impacts) and free cash flow before M&A from 2024 onwards.
• Ericsson remains fully committed to previously communicated financial targets, including long-term EBITA margins of 15-18%; long term FCF before M&A of 9-12% of sales; and a 2022 target EBIT margin of 12-14% for Ericsson Group excluding Vonage.

-=Vonage (VG) reported earnings on Wed 6 Nov 19 (b/o)

Vonage misses by $0.08, reports revs in-line; guides Q4 revs below consensus

Reports Q3 (Sep) loss of $0.02 per share, excluding non-recurring items, $0.08 worse than the S&P Capital IQ Consensus of $0.06; revenues rose 15.7% year/year to $302.5 mln vs the $302.88 mln S&P Capital IQ Consensus. Vonage Business Revenues were $207 million, representing 34% GAAP growth. Business Service Revenues were $184 million, a 37% GAAP increase. Adjusted to include acquisitions for all periods and other one-time items, Vonage Business Service Revenues increased 21% year-over-year or 23% in constant currency. Consumer Revenues were $96 million, down 11% year-over-year. Adjusted Operating Income Before Depreciation and Amortization of $45 million, in-line with ests.

Co issues downside guidance for Q4, sees Q4 revs of $304-307 mln vs. $308.64 mln S&P Capital IQ Consensus. Vonage Business Revenues in the range of $214 million to $216 million. Consumer Revenues in the area of $90 million to $91 million. Consolidated Adjusted OIBDA in the range of $43 million to $46 million. Accordingly, 2019 Adjusted OIBDA is now expected to be in the $157 million to $160 million range. This change primarily reflects the increased lag in revenue recognition due to higher Deferred Revenues driven by larger new contact center customer bookings.

-=Vonage (VG) reported earnings on Tue 6 Aug 2019 (b/o)

Vonage beats by $0.04, beats on revs; guides Q3 revs above consensus; reaffirms FY19 guidance; acquires voice AI firm Over.ai 

Reports Q2 (Jun) earnings of $0.08 per share, excluding non-recurring items, $0.04 better thanthe S&P Capital IQ Consensus of $0.04; revenues rose 14.6% year/year to $298 mln vs the $291.52 mln S&P Capital IQ Consensus. Vonage Business Revenues were $200 million, representing 67% of consolidated revenues and 35% GAAP growth. Business Service Revenues were $180 million, a 41% GAAP increase.

Co issues upside guidancefor Q3, sees Q3 revs of $302-305 mln vs. $298.56 mln S&P Capital IQ Consensus. Vonage Business Revenues in the range of $206 million to $208 million. Consumer Revenues in the range of $96 million to $97 million. Consolidated Adjusted OIBDA in the range of $44 million to $46 million.

Coreaffirms guidancefor FY19, sees FY19 revs of $1.17-1.195 bln vs. $1.18 bln S&P Capital IQ Consensus. Consolidated Adjusted OIBDA in the range of $160 million to $165 million.

Vonage has entered into an agreement to acquire certain assets of Over.ai, a Tel Aviv-based Voice Artificial Intelligence provider for enterprise communications. Vonage is acquiring Over.ai's technical team and intellectual property from i.am+, an AI technology platform co-founded and co-owned by musician will.i.am.  

Earnings this week : Aug 5 - 9, 19 (wk 32)

Monday (Aug 5)

• Morning: ATRO CARS CYOU KMPR L TA TSN 
• Afternoon: APLE CAR BKD CBT CZR CBPO COHU CXW  EVER  PLOW DCO FRPT HIIQ PODD ITRI KLAC RAMP MAR O SHAK SWAV SNCR TTWO THC WWD

Tuesday (Aug 6)

• Morning:  AFI BHC BDX APRN CAR  CRCM CHK CHH DF DISCA DUK ERI ENR HSIC JLL LGIH MNK MGP MOS  EYE PAYS PLUG SEAS SSTK TEN  FLOW VRTV VG WBT WLK ZTS
• Afternoon: ACLS ADT AFG AINV AIZ AKCA AMN ANDE APEI ARLO AVD AXGN BECN BNFT BOLD BTG CARG CGBD CMP CPE CPSI CTRE CUB DCP DHT DIS DVN DXPE EDIT ENLC ENTA EVH EVRI FANG FATE FLT FTR GBT GCP GH GTES  GWPH HALO HCKT HCR HST HTZ HUBS ICHR INSG INSP IOSP JAZZ KAR KRNT LC LOPE LRN LTHM MAXR MBI MCHP MMI MODN MTCH NDLS NEWR NP NUS NVTA OAS OHI OSUR PAA PAGP PBPB PE PEN PLNT PLT PLYA POWL PTCT PXD PZZA QUOT RRR RTRX SAIL SCOR SEDG SSTI STAY SUPN SWN SWX TGH TROX TWO TXMD VOYA VREX WK WMC WTR WTTR WW WYNN Y ZAGG ZGNX

Wednesday (Aug 7)

• Morning: AMAG ANIP ATHM ATKR AVA BCOR BV CNP CNR CORE CPRI CSTE CVS CYBR DNR DOC ETM EVOP FUN GOLF GTN HL HZNP ICPT INGN INXN IONS JELD KELY.A LAMR LL LXP MDCA MFA MIDD NRG NVMI NXST NYT ODP OMI QEP SBGI SGRY SINA SND SPB SRC SSW STWD TELL TEVA VER VGR WAAS WB WD WEN WWW
• Afternoon: AAOI, AGO, AGS, AIG, ALB, AMPH, ANGI, AOSL, APYX, ARNA, ASRT, ATO, AVLR, AZPN, BKNG, BREW, CABO, CAI, CCMP, CDE, CECO, CLI, COLL, CPA, CPRX, CSGS, CTL, CVNA, CWH, DAR, DDD, DOX, DVAX, EB, ECPG, ENS, ENV, ET, EVRG, FG, FLO, FNV, FOSL, FOXA, FRGI, FSCT, FSM, FTDR, FTK, G, GBDC, GDOT, GKOS, GLPI, GTE, HHC, IAC, IAG, ICUI, IIPR, IMMU, INFN, IVR, JACK, KIDS, KRO, LHCG, LYFT, MATX, MELI, MFC, MNST, MRAM, MRO, NTES, NTRA, NUAN, NVEE, OPK, ORA, PAAS, PDCE, PEGA, PETQ, PRA, PRI, PRSC, PTLA, QHC, QRTEA, QTWO, RCII, RDUS, REZI, RGLD, RGNX, RLJ, ROKU, RUN, RYAM, RYN, SENS, SFLY, SGMO, SJI, SONO, SRPT, STMP, SUN, SWCH, SWKS, SWM, TCX, TLND, TPIC, TRIP, TTGT, TVTY, TWNK, UHAL, UPLD, UPWK, VERI, WMGI, ZG, ZVO 

Thursday (Aug 8)

• Morning: ACIW, AMC, AMRC, AZUL, BAM, BPMP, CAH, CBB, CCOI, CDLX, CEVA, CNNE, COMM, COT, CRON, CSWI, CVIA, DESP, EBIX, ECOM, EGRX, EPAM, ESPR, FOCS, FOLD, FVRR, GOGO, GTS, GTT, HIMX, HMHC, IBP, KDP, KHC, KOP, KTB, LAUR, LITE, LKSD, LNG, MGA, MMS, MPAA, MUR, NBEV, NCLH, NGL, NHI, NICE, NOMD, NS, OGE, PCRX, PNW, PQG, PRGO, PRTY, PTE, RDNT, REV, RLGY, SATS, SNH, SUP, TAST, THR, TTI, TW, USPH, VIAB, VIRT, VSTO
• Afternoon: AAXN AIMT AIRG AL ALRM ALTR AMBC APPN AQN ASYS ATVI AVT AXA C CBS CHUY CISN CNDT COLD CUTR CYRX DBX DXC ELY EPAY EQH ESE FGEN FLNT FNKO FSLY FTCH HBM IIIV JAG MAIN MDP MDRX MESA MTW NKTR NNBR NNI NVGS NVRO NWSA OMER OSTK PBYI PCTY PRA PRAA PUMP QDEL QNST RBA ROAD RVLV SEMG SIEN SPPI SSR SSRM SYMC SYNA TERP TPC TRHC TRUE TSE TTD UBER UNIT VRAY VRTU VSAT VSLR WAIR WPM WPRT WTRH XON YELP

Friday (Aug 9) 
Morning: 

• CBM CLNY DPLO ERF HPT SSP TRCO USCR YRCW

Mon Aug 5 a/h

Thur  Aug 8 a/h

=Vonage (VG) reported earnings on Wed 21 Feb 2018 (b/o)

Vonage reports EPS in-line, revs in-line; guides FY18 above consensus 

• Reports Q4 (Dec) earnings of $0.09 per share, excluding non-recurring items, in-line with the Capital IQ Consensus of $0.09; revenues rose 2.9% year/year to $254 mln vs the $254.19 mln Capital IQ Consensus. 
• Vonage Business revenues were $134 million, representing 53% of total revenues and 21% GAAP growth in the fourth quarter of 2017. Full year revenues increased 33% to $499 million.
• Fourth quarter UCaaS revenues were $94 million, of which $74 million were service revenues. Service revenues increased 16% year-over-year on an organic3 basis. UCaaS revenue churn was 1.2% in the fourth quarter of 2017, flat sequentially and down from 1.4% the prior year.
• Nexmo, the Vonage API Platform revenues +36% organically to $40 million in Q4; full year Vonage API platform revenues were $140 million, up 39% year-over-year on an organic basis. The Company increased its registered developers on the Vonage API Platform to 430,000, a sequential increase of 59,000.
• Consumer revenues were $120 million in the fourth quarter, down 12% from the prior year quarter, and the fifth consecutive quarter of a lower year-over-year rate of decline in revenue.
• Co issues upside guidance for FY18, sees FY18 revs of $1.03-1.045 bln vs. $1.03 bln Capital IQ Consensus Estimate. Vonage Business revenues in the range of $590 million to $605 million, with first quarter 2018 Vonage Business revenues expected to be in the range of $136 million to $137 million. Consumer revenues in the range of $435 million to $440 million reflecting the Company's continued focus on optimizing the business for cash flow. Consolidated Adjusted OIBDA of at least $195 million, including the impact of Topic 606, with first quarter 2018 Adjusted OIBDA in the low $40 million area.  

=Vonage (VG) reported earnings on Tue 14 Feb 2017 (b/o)

 Vonage beats by $0.16, reports revs in-line; guides FY17 revs below consensus :

• Reports Q4 (Dec) earnings of $0.21 per share, $0.16 better than the Capital IQ Consensus of $0.05; revenues rose 7.2% year/year to $246.7 mln vs the $247.59 mln Capital IQ Consensus.
• Co issues downside guidance for FY17, sees FY17 revs of $970-985 mln vs. $1.01 bln Capital IQ Consensus Estimate. 
  • Sees consumer revenue in the range of $483 million to $492 million reflecting the Company's continued focus on optimizing the business for profitability and cash flow
  • Sees Consolidated Adjusted OIBDA of at least $165 million Capex of approximately $40 million

=Vonage (VG) reported earnings on Wed 26 Oct 2016 (b/o)

Vonage beats by $0.04, reports revs in-line; reaffirms FY16 revs guidance; raises Business rev and OIBDA guidance :

• Reports Q3 (Sep) adj. earnings of $0.09 per share, $0.04 better than the Capital IQ Consensus of $0.05; revenues rose 11.2% year/year to $248.4 mln vs the $246.92 mln Capital IQ Consensus. 
  • Vonage Business revenue, which includes $24 million of Nexmo revenue, was $106 million, an 86% year-over-year increase on a GAAP basis. Ending seats at Vonage Business were 616,000, up from 514,000 seats in the year ago quarter, a 20% increase. Vonage Business revenue churn was 1.4%, compared to 1.3% in the year ago quarter.
  • The Vonage API platform, formerly Nexmo, launched its next generation voice application interface, effectively doubling the Company's addressable market in CPaaS by opening up the broader, programmable voice market.
  • Revenue from Consumer Services was $142 million, compared to $166 million in the prior year period. This decline is consistent with the Company's strategy to optimize the profitability of Consumer Services, while redeploying capital into the high-growth Business Cloud Communications sector. Consumer customer churn improved to 2.2%, down from 2.3% in the year ago quarter.
• Co reaffirms guidance for FY16, sees FY16 revs of $950-960 mln vs. $957.03 mln Capital IQ Consensus Estimate. Within this, the Company is raising guidance for Vonage Business revenues to a range of $374 to $377 million, up from $365 to $370 million. Adjusted OIBDA is expected to be in the range of $158 to $160 million, up from "at least $150 million."