Bandwidth Inc. (NASDAQ:BAND) General Counsel Sells $118,226.86 in Stock

Bandwidth Inc. (NASDAQ:BAND) General Counsel Richard Brandon Asbill sold 5,561 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $118,226.86. Following the completion of the transaction, the general counsel now owns 41,825 shares of the company’s stock, valued at $889,199.50. This represents a 11.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Bandwidth Trading Up 0.4 %

Shares of Bandwidth stock opened at $21.11 on Tuesday. The business has a 50 day moving average price of $18.66 and a 200 day moving average price of $18.30. The company has a market capitalization of $580.74 million, a P/E ratio of -22.70 and a beta of 1.50. 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 Inc. has a 1 year low of $11.01 and a 1 year 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, beating the consensus estimate of $0.32 by $0.11. The business had revenue of $193.90 million for the quarter, compared to the consensus estimate of $182.05 million. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The business’s revenue was up 27.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.03 earnings per share. Sell-side analysts anticipate that Bandwidth Inc. will post 0.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Bandwidth

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Bandwidth by 1.1% during the first quarter. Vanguard Group Inc. now owns 1,536,051 shares of the company’s stock worth $28,048,000 after buying an additional 16,181 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Bandwidth by 10.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,713 shares of the company’s stock valued at $269,000 after purchasing an additional 1,334 shares during the period. Baillie Gifford & Co. grew its holdings in Bandwidth by 40.6% in the second quarter. Baillie Gifford & Co. now owns 30,412 shares of the company’s stock valued at $513,000 after purchasing an additional 8,789 shares during the period. Panagora Asset Management Inc. increased its position in Bandwidth by 50.0% during the second quarter. Panagora Asset Management Inc. now owns 139,592 shares of the company’s stock worth $2,356,000 after purchasing an additional 46,547 shares during the last quarter. Finally, Innealta Capital LLC purchased a new position in Bandwidth during the second quarter worth approximately $30,000. Institutional investors and hedge funds own 68.53% 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.