Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford Sells 1,305 Shares

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 1,305 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $17.39, for a total transaction of $22,693.95. Following the sale, the chief financial officer now owns 96,522 shares in the company, valued at approximately $1,678,517.58. The trade was a 1.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Daryl Raiford also recently made the following trade(s):

• On Friday, November 29th, Daryl Raiford sold 10,389 shares of Bandwidth stock. The stock was sold at an average price of $21.26, for a total transaction of $220,870.14.
• On Monday, December 2nd, Daryl Raiford sold 4,371 shares of Bandwidth stock. The shares were sold at an average price of $20.70, for a total transaction of $90,479.70.

Bandwidth Trading Up 2.6 %

Shares of BAND stock opened at $17.47 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $480.60 million, a price-to-earnings ratio of -18.78 and a beta of 1.52. Bandwidth Inc. has a 12-month low of $11.90 and a 12-month high of $25.02. The stock’s 50-day moving average price is $19.10 and its 200-day moving average price is $18.13.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. The business had revenue of $193.90 million for the quarter, compared to the consensus estimate of $182.05 million. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The company’s revenue was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS. Equities research analysts predict that Bandwidth Inc. will post 0.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BAND shares. Morgan Stanley increased their price target on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th. Robert W. Baird increased their target price on Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $28.83.

Institutional Investors Weigh In On Bandwidth

Hedge funds have recently bought and sold shares of the business. nVerses Capital LLC increased its holdings in shares of Bandwidth by 80.0% in the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $32,000 after buying an additional 800 shares during the last quarter. Redwood Wealth Management Group LLC purchased a new position in Bandwidth in the second quarter worth about $35,000. Quarry LP increased its stake in Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after acquiring an additional 1,245 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in Bandwidth during the second quarter worth approximately $57,000. Finally, Meeder Asset Management Inc. purchased a new stake in Bandwidth during the third quarter valued at approximately $74,000. Hedge funds and other institutional investors own 68.53% of the company’s stock.

About Bandwidth

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.