Bandwidth Inc. (NASDAQ:BAND) General Counsel Sells $14,294.58 in Stock

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

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 Up 2.6 %

NASDAQ BAND traded up $0.45 on Monday, reaching $17.47. 221,689 shares of the stock traded hands, compared to its average volume of 270,030. The company has a fifty day moving average price of $19.10 and a 200-day moving average price of $18.13. Bandwidth Inc. has a 12 month low of $11.90 and a 12 month high of $25.02. The company has a market cap of $480.60 million, a price-to-earnings ratio of -18.78 and a beta of 1.52. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.29 and a current ratio of 1.29.

Bandwidth (NASDAQ:BAND) last announced 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 business 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 firm’s revenue was up 27.6% on a year-over-year basis. During the same period in the previous year, the company 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 Inflows and Outflows

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

Analyst Ratings Changes

Several analysts recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a research report on Friday, November 1st. Robert W. Baird boosted their price objective on Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, Morgan Stanley raised their target price on shares of Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a report on Wednesday, December 18th. 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.com, the stock presently has a consensus rating of “Hold” and a consensus 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.