Bandwidth Inc. (NASDAQ:BAND) CFO Sells $22,693.95 in Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 1,305 shares of Bandwidth stock in a transaction on Monday, January 6th. The shares were sold at an average price of $17.39, for a total value of $22,693.95. Following the completion of the transaction, the chief financial officer now owns 96,522 shares of the company’s stock, valued at approximately $1,678,517.58. This trade represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Daryl Raiford also recently made the following trade(s):

• On Friday, November 29th, Daryl Raiford sold 10,389 shares of Bandwidth stock. The shares were sold at an average price of $21.26, for a total value of $220,870.14.
• On Monday, December 2nd, Daryl Raiford sold 4,371 shares of Bandwidth stock. The stock was sold at an average price of $20.70, for a total value of $90,479.70.

Bandwidth Trading Up 0.1 %

NASDAQ BAND opened at $16.43 on Thursday. The firm’s fifty day moving average price is $19.05 and its 200 day moving average price is $18.13. Bandwidth Inc. has a 12 month low of $11.90 and a 12 month high of $25.02. 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 company has a market capitalization of $451.99 million, a price-to-earnings ratio of -17.67 and a beta of 1.52.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.11. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The company had revenue of $193.90 million for the quarter, compared to analyst estimates of $182.05 million. During the same quarter last year, the company posted $0.03 earnings per share. The business’s quarterly revenue was up 27.6% compared to the same quarter last year. On average, sell-side analysts expect that Bandwidth Inc. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. 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 research note on Wednesday, December 18th. Robert W. Baird lifted their price objective on shares of 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 report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $28.83.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its holdings in shares of Bandwidth by 79.8% in the second quarter. Acadian Asset Management LLC now owns 613,612 shares of the company’s stock valued at $10,353,000 after acquiring an additional 272,309 shares during the period. Daiwa Securities Group Inc. purchased a new stake in Bandwidth in the 2nd quarter valued at $57,000. Redwood Wealth Management Group LLC acquired a new stake in Bandwidth during the 2nd quarter worth $35,000. Dimensional Fund Advisors LP grew its position in Bandwidth by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,043,013 shares of the company’s stock worth $17,606,000 after purchasing an additional 62,201 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Bandwidth by 9.3% during the 2nd quarter. Renaissance Technologies LLC now owns 604,200 shares of the company’s stock worth $10,199,000 after purchasing an additional 51,542 shares during 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.