Baillie Gifford & Co. Sells 2,966 Shares of Bandwidth Inc. (NASDAQ:BAND)

Baillie Gifford & Co. trimmed its position in Bandwidth Inc. (NASDAQ:BAND) by 9.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,017 shares of the company’s stock after selling 2,966 shares during the quarter. Baillie Gifford & Co. owned approximately 0.10% of Bandwidth worth $460,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of BAND. nVerses Capital LLC raised its holdings in shares of Bandwidth by 80.0% in the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $32,000 after purchasing an additional 800 shares during the period. Quarry LP raised its holdings in Bandwidth by 157.6% in the 3rd quarter. Quarry LP now owns 2,035 shares of the company’s stock valued at $36,000 after acquiring an additional 1,245 shares during the period. Meeder Asset Management Inc. bought a new position in Bandwidth in the 3rd quarter valued at about $74,000. Quest Partners LLC bought a new position in Bandwidth in the 3rd quarter valued at about $118,000. Finally, SG Americas Securities LLC raised its holdings in Bandwidth by 14.5% in the 4th quarter. SG Americas Securities LLC now owns 11,102 shares of the company’s stock valued at $189,000 after acquiring an additional 1,407 shares during the period. 68.53% of the stock is owned by institutional investors.

Insider Transactions at Bandwidth

In related news, CEO David A. Morken sold 2,777 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $17.39, for a total transaction of $48,292.03. Following the sale, the chief executive officer now owns 109,783 shares in the company, valued at approximately $1,909,126.37. This trade represents a 2.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Devin M. Krupka sold 3,658 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $21.26, for a total transaction of $77,769.08. Following the sale, the insider now owns 11,097 shares in the company, valued at $235,922.22. This represents a 24.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,417 shares of company stock valued at $1,063,184. 6.20% of the stock is currently owned by company insiders.

Bandwidth Stock Up 0.2 %

Shares of BAND opened at $18.74 on Wednesday. Bandwidth Inc. has a 12 month low of $11.90 and a 12 month high of $25.02. The firm’s 50 day moving average is $17.58 and its 200-day moving average is $17.80. The stock has a market capitalization of $515.54 million, a PE ratio of -20.15 and a beta of 1.54. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.83.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BAND. Morgan Stanley increased their price target on shares of Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a report on Wednesday, December 18th. Robert W. Baird increased their price target on shares of Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Needham & Company LLC reissued 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 assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Bandwidth currently has an average rating of “Hold” and an average target price of $28.83.

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.