one8zero8 LLC Makes New $170,000 Investment in Bandwidth Inc. (NASDAQ:BAND)

one8zero8 LLC purchased a new position in shares of Bandwidth Inc. (NASDAQ:BAND) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,000 shares of the company’s stock, valued at approximately $170,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP lifted its position in Bandwidth by 157.6% during the 3rd quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after acquiring an additional 1,245 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Bandwidth during the 4th quarter valued at about $69,000. Meeder Asset Management Inc. purchased a new position in shares of Bandwidth during the 3rd quarter valued at about $74,000. Quest Partners LLC purchased a new position in shares of Bandwidth during the 3rd quarter valued at about $118,000. Finally, Centiva Capital LP purchased a new position in shares of Bandwidth during the 3rd quarter valued at about $191,000. Institutional investors and hedge funds own 68.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Barclays reduced their price objective on Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Morgan Stanley lifted their price objective on Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a research note 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 restated an “outperform” rating on shares of Bandwidth in a research note 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.33.

Insider Buying and Selling

In related news, CFO Daryl Raiford sold 24,253 shares of Bandwidth stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $15.58, for a total value of $377,861.74. Following the sale, the chief financial officer now directly owns 113,795 shares in the company, valued at approximately $1,772,926.10. The trade was a 17.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David A. Morken sold 2,777 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $17.39, for a total value of $48,292.03. Following the transaction, the chief executive officer now owns 109,783 shares in the company, valued at approximately $1,909,126.37. This represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,510 shares of company stock worth $1,109,806. Insiders own 6.20% of the company’s stock.

Bandwidth Price Performance

Shares of Bandwidth stock opened at $15.03 on Tuesday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.90. Bandwidth Inc. has a twelve month low of $13.51 and a twelve month high of $25.02. The firm has a market cap of $430.22 million, a PE ratio of -26.37 and a beta of 1.57. The business has a 50-day moving average price of $16.75 and a 200 day moving average price of $17.76.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.02 earnings per share (EPS) 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 firm had revenue of $209.97 million during the quarter, compared to analyst estimates of $203.68 million. During the same quarter in the previous year, the firm posted $0.38 earnings per share. Sell-side analysts predict that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.

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.