Daryl Raiford Sells 4,350 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 4,350 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $16.97, for a total value of $73,819.50. Following the sale, the chief financial officer now directly owns 71,546 shares in the company, valued at approximately $1,214,135.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, August 29th, Daryl Raiford sold 1,245 shares of Bandwidth stock. The stock was sold at an average price of $17.42, for a total value of $21,687.90.
• On Tuesday, July 23rd, Daryl Raiford sold 1,769 shares of Bandwidth stock. The shares were sold at an average price of $22.22, for a total transaction of $39,307.18.
• On Wednesday, June 5th, Daryl Raiford sold 7,600 shares of Bandwidth stock. The stock was sold at an average price of $20.80, for a total transaction of $158,080.00.

Bandwidth Stock Down 0.1 %

BAND stock opened at $16.86 on Thursday. The company has a market cap of $455.35 million, a price-to-earnings ratio of -15.05 and a beta of 1.50. Bandwidth Inc. has a twelve month low of $9.34 and a twelve month high of $25.02. The business has a 50 day moving average price of $17.90 and a two-hundred day moving average price of $18.30. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.91.

Bandwidth (NASDAQ:BAND) last released its earnings results on Thursday, August 1st. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. Bandwidth had a negative net margin of 3.21% and a negative return on equity of 1.89%. The business had revenue of $174.00 million during the quarter, compared to analysts’ expectations of $173.18 million. During the same period last year, the business earned ($0.09) earnings per share. The firm’s revenue was up 19.2% on a year-over-year basis. Analysts anticipate that Bandwidth Inc. will post 0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BAND. Janney Montgomery Scott LLC grew its holdings in Bandwidth by 25.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 73,235 shares of the company’s stock worth $1,060,000 after purchasing an additional 14,752 shares during the period. Panagora Asset Management Inc. bought a new position in shares of Bandwidth during the 4th quarter worth approximately $471,000. Quest Partners LLC acquired a new position in shares of Bandwidth during the 4th quarter worth approximately $145,000. Oak Harbor Wealth Partners LLC bought a new stake in Bandwidth in the 4th quarter valued at $224,000. Finally, Olympiad Research LP raised its stake in Bandwidth by 65.4% in the 4th quarter. Olympiad Research LP now owns 16,917 shares of the company’s stock valued at $245,000 after acquiring an additional 6,686 shares during the period. 68.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BAND shares. KeyCorp upped their target price on shares of Bandwidth from $21.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Morgan Stanley cut Bandwidth from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $18.00 to $15.00 in a research report on Friday, June 14th. Barclays cut their target price on Bandwidth from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group lifted their price objective on shares of Bandwidth from $38.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bandwidth has a consensus rating of “Hold” and an average target price of $25.71.

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.