Bandwidth Inc. (NASDAQ:BAND) CEO David A. Morken Sells 2,777 Shares

Bandwidth Inc. (NASDAQ:BAND) CEO David A. Morken sold 2,777 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $17.39, for a total value of $48,292.03. Following the transaction, the chief executive officer now directly owns 109,783 shares of the company’s stock, valued at $1,909,126.37. This represents a 2.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Bandwidth Stock Performance

Bandwidth stock opened at $16.43 on Thursday. Bandwidth Inc. has a fifty-two week low of $11.90 and a fifty-two week high of $25.02. The firm’s 50 day simple moving average is $19.05 and its 200-day simple moving average is $18.13. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market cap of $451.99 million, a P/E ratio of -17.67 and a beta of 1.52.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.11. The firm had revenue of $193.90 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 27.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 EPS. As a group, equities research analysts predict that Bandwidth Inc. will post 0.08 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BAND. Robert W. Baird raised their price objective on shares of Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. 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. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a report on Friday, November 1st. One investment 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 data from MarketBeat.com, Bandwidth has a consensus rating of “Hold” and an average price target of $28.83.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BAND. Dimensional Fund Advisors LP boosted its position in Bandwidth by 6.3% during the 2nd 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 period. State Street Corp boosted its holdings in shares of Bandwidth by 3.7% during the third 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 during the period. Acadian Asset Management LLC grew 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 purchasing an additional 272,309 shares in the last quarter. Renaissance Technologies LLC increased its stake in Bandwidth by 9.3% in the 2nd quarter. Renaissance Technologies LLC now owns 604,200 shares of the company’s stock valued at $10,199,000 after buying an additional 51,542 shares during the period. Finally, Point72 Asset Management L.P. lifted its position in Bandwidth by 411.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 597,933 shares of the company’s stock worth $10,093,000 after buying an additional 480,933 shares in the last quarter. 68.53% of the stock is owned by institutional investors and hedge funds.

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.