Bandwidth Inc. (NASDAQ:BAND) Shares Sold by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC cut its position in Bandwidth Inc. (NASDAQ:BAND) by 61.8% during the third quarter, Holdings Channel reports. The firm owned 33,889 shares of the company’s stock after selling 54,798 shares during the period. Segall Bryant & Hamill LLC’s holdings in Bandwidth were worth $593,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of BAND. Innealta Capital LLC acquired a new position in shares of Bandwidth in the second quarter valued at about $30,000. nVerses Capital LLC increased its holdings in shares of Bandwidth by 80.0% in the third quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $32,000 after purchasing an additional 800 shares during the period. Redwood Wealth Management Group LLC acquired a new position in shares of Bandwidth in the second quarter valued at about $35,000. Daiwa Securities Group Inc. acquired a new position in shares of Bandwidth in the second quarter valued at about $57,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Bandwidth in the third quarter valued at about $74,000. 68.53% of the stock is owned by institutional investors and hedge funds.

Bandwidth Price Performance

NASDAQ:BAND opened at $20.67 on Monday. Bandwidth Inc. has a one year low of $10.60 and a one year high of $25.02. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market cap of $568.63 million, a PE ratio of -22.23 and a beta of 1.50. The stock has a 50 day moving average price of $18.17 and a 200 day moving average price of $18.34.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BAND. JMP Securities restated a “market outperform” rating and issued a $36.00 target price on shares of Bandwidth in a research note on Tuesday, August 27th. Robert W. Baird upped their target price on Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. Finally, Barclays lowered their target price on Bandwidth from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. One investment 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. According to data from MarketBeat.com, Bandwidth currently has a consensus rating of “Hold” and a consensus price target of $28.33.

Insiders Place Their Bets

In other Bandwidth news, CFO Daryl Raiford sold 4,350 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $16.97, for a total transaction of $73,819.50. Following the completion of the sale, the chief financial officer now owns 71,546 shares of the company’s stock, valued at $1,214,135.62. This trade represents a 5.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 8,630 shares of company stock valued at $148,515 over the last quarter. 6.20% of the stock is owned by insiders.

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.