Richard Brandon Asbill Sells 5,629 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) General Counsel Richard Brandon Asbill sold 5,629 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $15.70, for a total transaction of $88,375.30. Following the sale, the general counsel now owns 57,475 shares of the company’s stock, valued at $902,357.50. This trade represents a 8.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Richard Brandon Asbill also recently made the following trade(s):

• On Tuesday, January 21st, Richard Brandon Asbill sold 499 shares of Bandwidth stock. The shares were sold at an average price of $16.01, for a total value of $7,988.99.
• On Monday, January 6th, Richard Brandon Asbill sold 822 shares of Bandwidth stock. The shares were sold at an average price of $17.39, for a total value of $14,294.58.

Bandwidth Stock Up 0.6 %

NASDAQ:BAND opened at $15.26 on Thursday. The company has a 50-day moving average of $17.12 and a 200 day moving average of $17.89. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market cap of $436.80 million, a PE ratio of -26.77 and a beta of 1.57. Bandwidth Inc. has a 1-year low of $13.51 and a 1-year high of $25.02.

Bandwidth (NASDAQ:BAND) last released its earnings results on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.36). Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. The company had revenue of $209.97 million for the quarter, compared to analysts’ expectations of $203.68 million. During the same period in the prior year, the firm posted $0.38 EPS. As a group, research analysts anticipate that Bandwidth Inc. will post 0.22 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on BAND. Barclays dropped their price objective on Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Morgan Stanley lifted their price target on shares of Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a report on Wednesday, December 18th. Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a research note on Friday, February 21st. Finally, William Blair reiterated an “outperform” rating on shares of Bandwidth in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Bandwidth has a consensus rating of “Moderate Buy” and an average target price of $28.33.

Institutional Investors Weigh In On Bandwidth

A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted 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 buying an additional 153,223 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Bandwidth during the 3rd quarter worth about $747,000. Charles Schwab Investment Management Inc. lifted its position in shares of Bandwidth by 38.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 267,367 shares of the company’s stock worth $4,682,000 after buying an additional 73,795 shares during the last quarter. Geode Capital Management LLC lifted its position 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 last quarter. Finally, State Street Corp boosted its position in shares of Bandwidth by 3.7% in the 3rd quarter. State Street Corp now owns 655,768 shares of the company’s stock valued at $11,482,000 after purchasing an additional 23,352 shares during the period. Institutional investors and hedge funds own 68.53% of the company’s stock.

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.