Bandwidth Inc. (NASDAQ:BAND) Shares Sold by Fox Run Management L.L.C.

Fox Run Management L.L.C. decreased its stake in shares of Bandwidth Inc. (NASDAQ:BAND) by 36.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,957 shares of the company’s stock after selling 13,168 shares during the period. Fox Run Management L.L.C.’s holdings in Bandwidth were worth $391,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Counterpoint Mutual Funds LLC bought a new position in shares of Bandwidth in the fourth quarter valued at approximately $384,000. one8zero8 LLC acquired a new stake in Bandwidth in the fourth quarter worth approximately $170,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Bandwidth by 61.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 524,586 shares of the company’s stock valued at $8,928,000 after purchasing an additional 200,387 shares in the last quarter. AlphaQuest LLC increased its position in shares of Bandwidth by 162.1% during the 4th quarter. AlphaQuest LLC now owns 17,684 shares of the company’s stock valued at $301,000 after purchasing an additional 10,936 shares during the period. Finally, Inceptionr LLC bought a new stake in shares of Bandwidth in the 4th quarter worth $202,000. Institutional investors and hedge funds own 68.53% of the company’s stock.

Bandwidth Price Performance

BAND stock opened at $14.73 on Thursday. The firm has a 50-day moving average of $16.58 and a two-hundred day moving average of $17.67. The firm has a market capitalization of $421.63 million, a PE ratio of -25.84 and a beta of 1.57. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90. Bandwidth Inc. has a one year low of $13.51 and a one year high of $25.02.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $209.97 million during the quarter, compared to analyst estimates of $203.68 million. During the same period in the prior year, the business posted $0.38 EPS. On average, analysts forecast that Bandwidth Inc. will post 0.22 earnings per share for the current year.

Insider Activity

In other Bandwidth news, CEO David A. Morken sold 2,777 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $17.39, for a total transaction of $48,292.03. Following the completion of the sale, the chief executive officer now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Daryl Raiford sold 24,253 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $15.58, for a total value of $377,861.74. Following the completion of the transaction, the chief financial officer now owns 113,795 shares in the company, valued at $1,772,926.10. This represents a 17.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,510 shares of company stock worth $1,109,806. 6.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BAND shares. Morgan Stanley lifted their target price on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a report on Wednesday, December 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research note on Friday, February 21st. Barclays cut their target price on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Finally, William Blair restated an “outperform” rating on shares of Bandwidth in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.33.

Bandwidth 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.