Bandwidth Inc. (NASDAQ:BAND) CEO Sells $20,720.37 in Stock

Bandwidth Inc. (NASDAQ:BAND) CEO David A. Morken sold 1,221 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $16.97, for a total transaction of $20,720.37. Following the completion of the transaction, the chief executive officer now owns 112,560 shares in the company, valued at $1,910,143.20. This trade represents a 1.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Bandwidth Price Performance

Shares of NASDAQ BAND opened at $17.47 on Tuesday. The firm has a market capitalization of $480.60 million, a P/E ratio of -18.78 and a beta of 1.52. The firm’s 50-day moving average price is $19.10 and its 200-day moving average price is $18.13. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.83. Bandwidth Inc. has a 1-year low of $11.90 and a 1-year high of $25.02.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.43 earnings per share for the quarter, topping 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 earned $0.03 EPS. The firm’s revenue for the quarter was up 27.6% on a year-over-year basis. Equities research analysts anticipate that Bandwidth Inc. will post 0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BAND has been the subject of a number of analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. Robert W. Baird lifted their price objective on Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Morgan Stanley upped their target price on Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $28.83.

Hedge Funds Weigh In On Bandwidth

A number of large investors have recently modified their holdings of BAND. Dimensional Fund Advisors LP raised its holdings in Bandwidth by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,043,013 shares of the company’s stock worth $17,606,000 after buying an additional 62,201 shares during the last quarter. State Street Corp increased its position in shares of Bandwidth by 3.7% during the third quarter. State Street Corp now owns 655,768 shares of the company’s stock worth $11,482,000 after acquiring an additional 23,352 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Bandwidth by 79.8% in the 2nd quarter. Acadian Asset Management LLC now owns 613,612 shares of the company’s stock worth $10,353,000 after acquiring an additional 272,309 shares during the last quarter. Renaissance Technologies LLC lifted its position in Bandwidth by 9.3% in the 2nd quarter. Renaissance Technologies LLC now owns 604,200 shares of the company’s stock valued at $10,199,000 after acquiring an additional 51,542 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in Bandwidth by 411.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 597,933 shares of the company’s stock valued at $10,093,000 after purchasing an additional 480,933 shares during the last quarter. 68.53% of the stock is currently owned by institutional investors.

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.