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

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 1,305 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $17.39, for a total value of $22,693.95. Following the completion of the transaction, the chief financial officer now directly 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 is available at the SEC website.

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

• On Friday, November 29th, Daryl Raiford sold 10,389 shares of Bandwidth stock. The shares were 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 stock was sold at an average price of $20.70, for a total transaction of $90,479.70.

Bandwidth Trading Up 0.1 %

Shares of Bandwidth stock opened at $16.43 on Thursday. The company has a 50-day moving average of $19.05 and a two-hundred day moving average of $18.13. The stock has a market cap of $451.99 million, a PE ratio of -17.67 and a beta of 1.52. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.83. Bandwidth Inc. has a 12-month low of $11.90 and a 12-month high of $25.02.

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

Wall Street Analyst Weigh In

BAND has been the subject of several analyst reports. Morgan Stanley increased their price target on shares of Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a report 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 note on Friday, November 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research note 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 issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $28.83.

Institutional Investors Weigh In On Bandwidth

Several institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in Bandwidth by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,043,013 shares of the company’s stock worth $17,606,000 after acquiring an additional 62,201 shares during the last quarter. State Street Corp increased its stake in shares of Bandwidth by 3.7% during the 3rd quarter. State Street Corp now owns 655,768 shares of the company’s stock worth $11,482,000 after purchasing an additional 23,352 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Bandwidth by 79.8% during the 2nd quarter. Acadian Asset Management LLC now owns 613,612 shares of the company’s stock worth $10,353,000 after purchasing an additional 272,309 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Bandwidth by 9.3% during the 2nd quarter. Renaissance Technologies LLC now owns 604,200 shares of the company’s stock worth $10,199,000 after purchasing an additional 51,542 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in Bandwidth by 411.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 597,933 shares of the company’s stock valued at $10,093,000 after buying an additional 480,933 shares in the last quarter. 68.53% of the stock is currently owned by hedge funds and other institutional investors.

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.