Centiva Capital LP Purchases New Holdings in Bandwidth Inc. (NASDAQ:BAND)

Centiva Capital LP acquired a new stake in Bandwidth Inc. (NASDAQ:BAND) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 10,934 shares of the company’s stock, valued at approximately $191,000.

Several other large investors have also recently made changes to their positions in BAND. Price T Rowe Associates Inc. MD boosted its stake in Bandwidth by 10.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,713 shares of the company’s stock worth $269,000 after purchasing an additional 1,334 shares during the period. Baillie Gifford & Co. boosted its position in shares of Bandwidth by 40.6% during the 2nd quarter. Baillie Gifford & Co. now owns 30,412 shares of the company’s stock valued at $513,000 after acquiring an additional 8,789 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Bandwidth by 50.0% during the second quarter. Panagora Asset Management Inc. now owns 139,592 shares of the company’s stock worth $2,356,000 after purchasing an additional 46,547 shares in the last quarter. Innealta Capital LLC purchased a new stake in Bandwidth in the second quarter valued at approximately $30,000. Finally, Hussman Strategic Advisors Inc. lifted its position in Bandwidth by 20.0% during the second quarter. Hussman Strategic Advisors Inc. now owns 126,000 shares of the company’s stock valued at $2,127,000 after purchasing an additional 21,000 shares during the last quarter. 68.53% of the stock is owned by hedge funds and other institutional investors.

Bandwidth Price Performance

Shares of NASDAQ:BAND opened at $19.59 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market cap of $538.92 million, a price-to-earnings ratio of -21.06 and a beta of 1.51. The firm has a fifty day moving average price of $19.11 and a 200 day moving average price of $18.27. Bandwidth Inc. has a fifty-two week low of $11.01 and a fifty-two week high of $25.02.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $182.05 million. During the same period in the prior year, the business posted $0.03 earnings per share. The company’s quarterly revenue was up 27.6% compared to the same quarter last year. As a group, sell-side analysts expect that Bandwidth Inc. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BAND shares. JMP Securities reiterated a “market outperform” rating and issued a $36.00 price objective on shares of Bandwidth in a report on Tuesday, August 27th. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. Finally, Robert W. Baird increased their target price on shares of Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Bandwidth currently has an average rating of “Hold” and a consensus price target of $28.33.

Insider Buying and Selling at Bandwidth

In other news, insider Devin M. Krupka sold 3,658 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $77,769.08. Following the sale, the insider now owns 11,097 shares of the company’s stock, valued at $235,922.22. This trade represents a 24.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Richard Brandon Asbill sold 5,561 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.26, for a total value of $118,226.86. Following the completion of the sale, the general counsel now owns 41,825 shares of the company’s stock, valued at $889,199.50. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,733 shares of company stock valued at $948,310 in the last ninety days. Corporate insiders own 6.20% of the company’s stock.

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.