Quantbot Technologies LP Trims Stock Position in Bandwidth Inc. (NASDAQ:BAND)

Quantbot Technologies LP lessened its holdings in Bandwidth Inc. (NASDAQ:BAND) by 40.9% during the 3rd quarter, Holdings Channel reports. The firm owned 12,249 shares of the company’s stock after selling 8,466 shares during the quarter. Quantbot Technologies LP’s holdings in Bandwidth were worth $214,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Bandwidth by 1.1% in the first quarter. Vanguard Group Inc. now owns 1,536,051 shares of the company’s stock valued at $28,048,000 after purchasing an additional 16,181 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Bandwidth by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,043,013 shares of the company’s stock valued at $17,606,000 after purchasing an additional 62,201 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Bandwidth by 79.8% in the second quarter. Acadian Asset Management LLC now owns 613,612 shares of the company’s stock valued at $10,353,000 after purchasing an additional 272,309 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Bandwidth by 9.3% in the second quarter. Renaissance Technologies LLC now owns 604,200 shares of the company’s stock valued at $10,199,000 after purchasing an additional 51,542 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Bandwidth by 411.1% in the second 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 in the last quarter. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Bandwidth Stock Performance

Shares of BAND stock opened at $20.77 on Thursday. Bandwidth Inc. has a one year low of $11.01 and a one year high of $25.02. 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 company has a 50 day moving average price of $18.79 and a 200 day moving average price of $18.30. The firm has a market capitalization of $571.38 million, a price-to-earnings ratio of -22.33 and a beta of 1.51.

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

Insider Buying and Selling

In other Bandwidth news, CFO Daryl Raiford sold 4,371 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.70, for a total transaction of $90,479.70. Following the completion of the sale, the chief financial officer now directly owns 93,451 shares in the company, valued at $1,934,435.70. The trade was a 4.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 stock was sold at an average price of $21.26, for a total transaction of $118,226.86. Following the sale, the general counsel now owns 41,825 shares of the company’s stock, valued at approximately $889,199.50. This represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,733 shares of company stock valued at $948,310. Insiders own 6.20% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.