Richard Brandon Asbill Sells 822 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) General Counsel Richard Brandon Asbill sold 822 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $17.39, for a total transaction of $14,294.58. Following the completion of the sale, the general counsel now owns 43,405 shares in the company, valued at $754,812.95. This represents a 1.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Richard Brandon Asbill also recently made the following trade(s):

• On Friday, November 29th, Richard Brandon Asbill sold 5,561 shares of Bandwidth stock. The stock was sold at an average price of $21.26, for a total transaction of $118,226.86.

Bandwidth Stock Performance

Bandwidth stock opened at $16.41 on Wednesday. Bandwidth Inc. has a 1-year low of $11.90 and a 1-year high of $25.02. The company’s 50-day moving average is $19.05 and its 200 day moving average is $18.13. The firm has a market capitalization of $451.44 million, a P/E ratio of -17.65 and a beta of 1.52. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.29 and a quick ratio of 1.29.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate 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 firm 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 revenue for the quarter was up 27.6% on a year-over-year basis. Research analysts forecast that Bandwidth Inc. will post 0.08 EPS for the current year.

Institutional Trading of Bandwidth

Several institutional investors and hedge funds have recently made changes to their positions in BAND. nVerses Capital LLC increased its stake in 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 period. Quarry LP increased its position in shares of 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 period. Redwood Wealth Management Group LLC purchased a new position in shares of Bandwidth during the second quarter worth approximately $35,000. Daiwa Securities Group Inc. bought a new stake in shares of Bandwidth during the second quarter valued at approximately $57,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Bandwidth in the third quarter valued at approximately $74,000. 68.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BAND has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a report on Friday, November 1st. Robert W. Baird raised their price objective on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Morgan Stanley boosted 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 investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $28.83.

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.