Bandwidth Inc. (NASDAQ:BAND) Insider Sells $77,769.08 in Stock

Bandwidth Inc. (NASDAQ:BAND) insider Devin M. Krupka sold 3,658 shares of Bandwidth stock in a transaction 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 directly owns 11,097 shares in the company, valued at approximately $235,922.22. This trade represents a 24.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Bandwidth Trading Up 0.4 %

Shares of BAND stock traded up $0.08 during trading on Monday, hitting $21.11. 399,651 shares of the stock traded hands, compared to its average volume of 309,419. Bandwidth Inc. has a 52-week low of $11.01 and a 52-week high of $25.02. The firm has a market capitalization of $580.74 million, a P/E ratio of -22.70 and a beta of 1.50. The firm’s fifty day moving average price is $18.66 and its 200-day moving average price is $18.30. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.29 and a quick ratio of 1.29.

Bandwidth (NASDAQ:BAND) last posted its earnings results on Thursday, October 31st. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.11. The company had revenue of $193.90 million for the quarter, compared to the consensus estimate of $182.05 million. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 earnings per share. As a group, research analysts forecast that Bandwidth Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BAND. Hsbc Holdings PLC raised its stake in shares of Bandwidth by 143.9% in the 2nd quarter. Hsbc Holdings PLC now owns 55,259 shares of the company’s stock valued at $929,000 after acquiring an additional 32,598 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Bandwidth in the 3rd quarter valued at approximately $747,000. Squarepoint Ops LLC purchased a new stake in Bandwidth in the second quarter valued at approximately $1,113,000. Panagora Asset Management Inc. lifted its stake in Bandwidth by 50.0% during the second quarter. Panagora Asset Management Inc. now owns 139,592 shares of the company’s stock worth $2,356,000 after purchasing an additional 46,547 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Bandwidth by 185.5% during the third quarter. Assenagon Asset Management S.A. now owns 341,921 shares of the company’s stock worth $5,987,000 after buying an additional 222,142 shares during the period. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BAND shares. JMP Securities reissued a “market outperform” rating and issued a $36.00 price target on shares of Bandwidth in a research note on Tuesday, August 27th. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a report on Friday, November 1st. Finally, Robert W. Baird increased their price target on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $28.33.

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.