Devin M. Krupka Sells 3,658 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) insider Devin M. Krupka sold 3,658 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $21.26, for a total value of $77,769.08. Following the transaction, the insider now directly owns 11,097 shares in the company, valued at approximately $235,922.22. The trade was a 24.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Bandwidth Stock Up 0.4 %

Shares of Bandwidth stock opened at $21.11 on Tuesday. Bandwidth Inc. has a 52-week low of $11.01 and a 52-week high of $25.02. The company has a 50 day moving average of $18.66 and a 200 day moving average of $18.30. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $580.74 million, a P/E ratio of -22.70 and a beta of 1.50.

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

Institutional Investors Weigh In On Bandwidth

Hedge funds and other institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC increased its stake in Bandwidth by 3.6% in the third quarter. Los Angeles Capital Management LLC now owns 21,221 shares of the company’s stock valued at $372,000 after purchasing an additional 740 shares during the last quarter. nVerses Capital LLC lifted its position in Bandwidth by 80.0% in the third quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $32,000 after acquiring an additional 800 shares during the last quarter. Quarry LP boosted its stake in Bandwidth by 157.6% in the third quarter. Quarry LP now owns 2,035 shares of the company’s stock valued at $36,000 after acquiring an additional 1,245 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Bandwidth by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,713 shares of the company’s stock worth $269,000 after purchasing an additional 1,334 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its position in shares of Bandwidth by 2.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 50,374 shares of the company’s stock worth $850,000 after purchasing an additional 1,342 shares in the last quarter. Institutional investors and hedge funds own 68.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BAND shares. Robert W. Baird boosted their price target on shares of Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. JMP Securities reiterated a “market outperform” rating and set a $36.00 target price on shares of Bandwidth in a report on Tuesday, August 27th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research report on Friday, November 1st. One 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $28.33.

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.