Bandwidth Inc. (NASDAQ:BAND) Insider Kade Ross Sells 3,500 Shares

Bandwidth Inc. (NASDAQ:BAND) insider Kade Ross sold 3,500 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $16.92, for a total value of $59,220.00. Following the completion of the sale, the insider now directly owns 23,322 shares of the company’s stock, valued at approximately $394,608.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Kade Ross also recently made the following trade(s):

• On Tuesday, May 14th, Kade Ross sold 68 shares of Bandwidth stock. The shares were sold at an average price of $22.15, for a total value of $1,506.20.

Bandwidth Trading Up 2.4 %

Shares of BAND stock opened at $17.29 on Tuesday. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $466.97 million, a price-to-earnings ratio of -15.44 and a beta of 1.49. The firm has a 50-day moving average price of $19.28 and a 200 day moving average price of $17.01. Bandwidth Inc. has a twelve month low of $9.34 and a twelve month high of $25.02.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.08). The business had revenue of $171.03 million during the quarter, compared to analysts’ expectations of $165.10 million. Bandwidth had a negative net margin of 4.60% and a negative return on equity of 2.49%. Research analysts forecast that Bandwidth Inc. will post 0.16 earnings per share for the current fiscal year.

Institutional Trading of Bandwidth

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. G2 Investment Partners Management LLC purchased a new stake in Bandwidth in the 4th quarter valued at about $4,079,000. Vanguard Group Inc. grew its holdings in shares of Bandwidth by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,480,343 shares of the company’s stock worth $16,683,000 after purchasing an additional 43,411 shares during the period. Palogic Value Management L.P. grew its holdings in shares of Bandwidth by 17.0% during the 4th quarter. Palogic Value Management L.P. now owns 300,000 shares of the company’s stock worth $4,341,000 after purchasing an additional 43,675 shares during the period. Oak Harbor Wealth Partners LLC purchased a new stake in shares of Bandwidth during the 4th quarter worth about $224,000. Finally, Olympiad Research LP grew its holdings in shares of Bandwidth by 65.4% during the 4th quarter. Olympiad Research LP now owns 16,917 shares of the company’s stock worth $245,000 after purchasing an additional 6,686 shares during the period. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BAND shares. Morgan Stanley downgraded Bandwidth from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $18.00 to $15.00 in a research note on Friday, June 14th. Canaccord Genuity Group lifted their price target on Bandwidth from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research note on Friday, May 10th. Robert W. Baird lifted their price target on Bandwidth from $21.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Finally, Barclays lifted their price target on Bandwidth from $22.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $25.63.

Bandwidth Company Profile

Bandwidth is a leading enterprise cloud communications company. Companies like Cisco, Google, Microsoft, RingCentral, Uber, and Zoom use Bandwidth’s APIs to easily embed voice, messaging, and emergency services into software and applications. Bandwidth is the first and only CPaaS provider offering a robust selection of communications APIs built around their own IP voice network.