Daiwa Securities Group Inc. Buys New Holdings in Bandwidth Inc. (NASDAQ:BAND)

Daiwa Securities Group Inc. purchased a new position in Bandwidth Inc. (NASDAQ:BAND) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,404 shares of the company’s stock, valued at approximately $57,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in shares of Bandwidth during the second quarter worth approximately $30,000. Ameritas Investment Partners Inc. lifted its stake in shares of Bandwidth by 31.6% in the first quarter. Ameritas Investment Partners Inc. now owns 2,355 shares of the company’s stock valued at $43,000 after buying an additional 565 shares in the last quarter. Quest Partners LLC bought a new position in shares of Bandwidth in the fourth quarter valued at $145,000. Bayesian Capital Management LP acquired a new position in shares of Bandwidth during the first quarter valued at about $187,000. Finally, Resurgent Financial Advisors LLC increased its position in shares of Bandwidth by 4.6% during the first quarter. Resurgent Financial Advisors LLC now owns 11,840 shares of the company’s stock worth $216,000 after acquiring an additional 520 shares in the last quarter. Institutional investors and hedge funds own 68.53% of the company’s stock.

Insider Activity

In other news, insider Kade Ross sold 3,500 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $16.92, for a total value of $59,220.00. Following the sale, the insider now directly owns 23,322 shares of the company’s stock, valued at $394,608.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Daryl Raiford sold 1,769 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $22.22, for a total transaction of $39,307.18. Following the completion of the transaction, the chief financial officer now directly owns 63,397 shares in the company, valued at $1,408,681.34. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Kade Ross sold 3,500 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $16.92, for a total value of $59,220.00. Following the transaction, the insider now directly owns 23,322 shares of the company’s stock, valued at approximately $394,608.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,794 shares of company stock worth $245,075. 6.20% of the stock is owned by corporate insiders.

Bandwidth Stock Down 1.5 %

BAND opened at $17.32 on Wednesday. Bandwidth Inc. has a twelve month low of $9.34 and a twelve month high of $25.02. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.91. The company’s 50-day moving average price is $17.87 and its two-hundred day moving average price is $18.44. The stock has a market cap of $467.78 million, a price-to-earnings ratio of -15.46 and a beta of 1.50.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $174.00 million for the quarter, compared to analysts’ expectations of $173.18 million. Bandwidth had a negative return on equity of 1.89% and a negative net margin of 3.21%. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.09) EPS. As a group, equities analysts expect that Bandwidth Inc. will post 0.11 earnings per share for the current year.

Analysts Set New Price Targets

BAND has been the topic of several recent research reports. Morgan Stanley cut shares of Bandwidth from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $18.00 to $15.00 in a research report on Friday, June 14th. JMP Securities reaffirmed a “market outperform” rating and set a $36.00 target price on shares of Bandwidth in a research report on Tuesday, August 27th. Robert W. Baird decreased their price target on Bandwidth from $25.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Barclays dropped their price objective on Bandwidth from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.71.

Bandwidth 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.