Segall Bryant & Hamill LLC Sells 54,798 Shares of Bandwidth Inc. (NASDAQ:BAND)

Segall Bryant & Hamill LLC decreased its position in Bandwidth Inc. (NASDAQ:BAND) by 61.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,889 shares of the company’s stock after selling 54,798 shares during the quarter. Segall Bryant & Hamill LLC owned 0.12% of Bandwidth worth $593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new stake in Bandwidth in the 3rd quarter worth approximately $74,000. Quest Partners LLC purchased a new position in shares of Bandwidth in the 3rd quarter worth approximately $118,000. Thrivent Financial for Lutherans boosted its holdings in shares of Bandwidth by 27.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 75,575 shares of the company’s stock worth $1,323,000 after purchasing an additional 16,450 shares during the period. GSA Capital Partners LLP boosted its holdings in shares of Bandwidth by 32.0% in the 3rd quarter. GSA Capital Partners LLP now owns 69,986 shares of the company’s stock worth $1,225,000 after purchasing an additional 16,968 shares during the period. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of Bandwidth by 3.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 21,221 shares of the company’s stock worth $372,000 after purchasing an additional 740 shares during the period. Institutional investors own 68.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on BAND. Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a report on Friday, November 1st. JMP Securities restated a “market outperform” rating and set a $36.00 price objective on shares of Bandwidth in a report on Tuesday, August 27th. Robert W. Baird boosted their price objective on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Barclays dropped their price objective on Bandwidth from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $28.33.

Bandwidth Price Performance

BAND opened at $20.67 on Monday. Bandwidth Inc. has a 52-week low of $10.60 and a 52-week high of $25.02. The stock has a market cap of $568.63 million, a P/E ratio of -22.23 and a beta of 1.50. The business has a fifty day moving average of $18.17 and a 200 day moving average of $18.34. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.83.

Bandwidth (NASDAQ:BAND) last issued its earnings results on Thursday, October 31st. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.11. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The business had revenue of $193.90 million during the quarter, compared to analysts’ expectations of $182.05 million. During the same period in the prior year, the business earned $0.03 EPS. The business’s revenue for the quarter was up 27.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bandwidth Inc. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Daryl Raiford sold 4,350 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $16.97, for a total value of $73,819.50. Following the completion of the transaction, the chief financial officer now directly owns 71,546 shares of the company’s stock, valued at approximately $1,214,135.62. The trade was a 5.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 8,630 shares of company stock worth $148,515. 6.20% of the stock is currently owned by company insiders.

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.