Bandwidth Inc. (NASDAQ:BAND) CEO Sells $48,292.03 in Stock

Bandwidth Inc. (NASDAQ:BAND) CEO David A. Morken sold 2,777 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 109,783 shares in the company, valued at $1,909,126.37. This trade represents a 2.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Bandwidth Stock Performance

Shares of NASDAQ BAND traded up $0.45 during mid-day trading on Monday, hitting $17.47. The company had a trading volume of 221,689 shares, compared to its average volume of 270,030. Bandwidth Inc. has a 12 month low of $11.90 and a 12 month high of $25.02. The stock has a market cap of $480.60 million, a price-to-earnings ratio of -18.78 and a beta of 1.52. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.29 and a quick ratio of 1.29. The firm’s 50 day simple moving average is $19.10 and its two-hundred day simple moving average is $18.13.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th. Robert W. Baird lifted their target price on Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.83.

Institutional Investors Weigh In On Bandwidth

Several large investors have recently made changes to their positions in the company. Hsbc Holdings PLC grew its holdings in Bandwidth by 143.9% in the 2nd quarter. Hsbc Holdings PLC now owns 55,259 shares of the company’s stock worth $929,000 after buying an additional 32,598 shares in the last quarter. FMR LLC boosted its position in Bandwidth by 70.3% during the 3rd quarter. FMR LLC now owns 371,215 shares of the company’s stock worth $6,500,000 after acquiring an additional 153,223 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Bandwidth in the third quarter worth $747,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Bandwidth by 38.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 267,367 shares of the company’s stock valued at $4,682,000 after purchasing an additional 73,795 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Bandwidth by 3.6% during the third quarter. Geode Capital Management LLC now owns 568,667 shares of the company’s stock valued at $9,960,000 after purchasing an additional 19,832 shares in the last quarter. 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.