National Bank of Canada FI raised its stake in Sangoma Technologies Co. (NASDAQ:SANG – Get Rating) by 11.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,491 shares of the company's stock after buying an additional 2,874 shares during the period. National Bank of Canada FI owned 0.13% of Sangoma Technologies worth $143,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. acquired a new stake in Sangoma Technologies in the second quarter valued at approximately $100,000. Tarbox Family Office Inc. acquired a new position in shares of Sangoma Technologies during the second quarter worth $127,000. Bard Associates Inc. lifted its holdings in shares of Sangoma Technologies by 47.6% during the second quarter. Bard Associates Inc. now owns 16,828 shares of the company's stock worth $139,000 after purchasing an additional 5,425 shares during the period. HighTower Advisors LLC acquired a new position in shares of Sangoma Technologies during the first quarter worth $303,000. Finally, CLARET ASSET MANAGEMENT Corp lifted its holdings in shares of Sangoma Technologies by 128.5% during the second quarter. CLARET ASSET MANAGEMENT Corp now owns 68,493 shares of the company's stock worth $578,000 after purchasing an additional 38,524 shares during the period. Institutional investors and hedge funds own 31.00% of the company's stock.
Get Sangoma Technologies alerts:Sangoma Technologies Price Performance
Shares of NASDAQ SANG opened at $4.85 on Friday. Sangoma Technologies Co. has a twelve month low of $3.67 and a twelve month high of $18.80. The company has a quick ratio of 0.56, a current ratio of 0.82 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $111.89 million and a PE ratio of -1.45. The firm has a fifty day simple moving average of $4.69 and a 200 day simple moving average of $6.51.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on SANG. Canaccord Genuity Group cut their price target on shares of Sangoma Technologies from $21.00 to $13.00 in a report on Wednesday, September 28th. Lake Street Capital cut their price target on shares of Sangoma Technologies from $15.00 to $12.00 in a report on Monday, November 14th. BMO Capital Markets lowered their target price on shares of Sangoma Technologies from C$30.00 to C$20.00 in a research note on Wednesday, September 28th. William Blair started coverage on shares of Sangoma Technologies in a research note on Thursday, September 22nd. They set an "outperform" rating for the company. Finally, TD Securities lowered their target price on shares of Sangoma Technologies from C$17.50 to C$16.50 in a research note on Monday, November 14th.Sangoma Technologies Company Profile
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Sangoma Technologies Corporation develops, manufactures, distributes, and supports voice and data connectivity components for software-based communication applications worldwide. The company offers Switchvox, a voice over internet protocol phone system; Switchvox Cloud, a unified communications solution, as well as provides cloud communication solutions.
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