Bandwidth Inc. (NASDAQ:BAND) Shares Acquired by Parcion Private Wealth LLC

Parcion Private Wealth LLC lifted its holdings in shares of Bandwidth Inc. (NASDAQ:BAND) by 1.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 232,137 shares of the company’s stock after acquiring an additional 3,927 shares during the period. Parcion Private Wealth LLC’s holdings in Bandwidth were worth $3,951,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its position in Bandwidth by 70.3% in the third quarter. FMR LLC now owns 371,215 shares of the company’s stock valued at $6,500,000 after purchasing an additional 153,223 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Bandwidth in the third quarter worth about $747,000. Charles Schwab Investment Management Inc. boosted its stake in Bandwidth by 38.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 267,367 shares of the company’s stock valued at $4,682,000 after acquiring an additional 73,795 shares during the period. Geode Capital Management LLC boosted its stake in Bandwidth by 3.6% in the third quarter. Geode Capital Management LLC now owns 568,667 shares of the company’s stock valued at $9,960,000 after acquiring an additional 19,832 shares during the period. Finally, State Street Corp boosted its stake in Bandwidth by 3.7% in the third quarter. State Street Corp now owns 655,768 shares of the company’s stock valued at $11,482,000 after acquiring an additional 23,352 shares during the period. Institutional investors and hedge funds own 68.53% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BAND. Morgan Stanley boosted their price objective on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th. Robert W. Baird boosted their target price on Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bandwidth has a consensus rating of “Hold” and a consensus price target of $28.83.

Bandwidth Trading Down 2.5 %

Bandwidth stock opened at $18.27 on Thursday. The company’s fifty day simple moving average is $17.52 and its 200-day simple moving average is $17.83. The company has a quick ratio of 1.29, a current 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. The stock has a market cap of $502.61 million, a P/E ratio of -19.65 and a beta of 1.54.

Insider Activity

In other Bandwidth news, insider Devin M. Krupka sold 3,658 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $77,769.08. Following the completion of the transaction, the insider now owns 11,097 shares of the company’s stock, valued at $235,922.22. The trade was a 24.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David A. Morken sold 2,777 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 $48,292.03. Following the transaction, the chief executive officer now directly owns 109,783 shares of the company’s stock, valued at approximately $1,909,126.37. This represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,417 shares of company stock worth $1,063,184 in the last ninety days. Corporate insiders own 6.20% of the company’s stock.

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.