10,934 Shares in Bandwidth Inc. (NASDAQ:BAND) Acquired by Centiva Capital LP

Centiva Capital LP bought a new stake in shares of Bandwidth Inc. (NASDAQ:BAND) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,934 shares of the company’s stock, valued at approximately $191,000.

Other large investors also recently bought and sold shares of the company. Point72 Asset Management L.P. raised its position in shares of Bandwidth by 411.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 597,933 shares of the company’s stock valued at $10,093,000 after purchasing an additional 480,933 shares during the period. Acadian Asset Management LLC raised 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 worth $10,353,000 after buying an additional 272,309 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Bandwidth by 185.5% in the third quarter. Assenagon Asset Management S.A. now owns 341,921 shares of the company’s stock worth $5,987,000 after purchasing an additional 222,142 shares during the last quarter. FMR LLC raised its position in Bandwidth by 70.3% during the 3rd quarter. FMR LLC now owns 371,215 shares of the company’s stock valued at $6,500,000 after purchasing an additional 153,223 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Bandwidth by 35.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 324,199 shares of the company’s stock valued at $5,677,000 after acquiring an additional 83,979 shares in the last quarter. 68.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Daryl Raiford sold 4,371 shares of Bandwidth stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $20.70, for a total value of $90,479.70. Following the completion of the sale, the chief financial officer now directly owns 93,451 shares in the company, valued at $1,934,435.70. This trade represents a 4.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Richard Brandon Asbill sold 5,561 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $21.26, for a total value of $118,226.86. Following the sale, the general counsel now directly owns 41,825 shares in the company, valued at $889,199.50. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,733 shares of company stock worth $948,310 in the last three months. 6.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on BAND. JMP Securities reiterated a “market outperform” rating and set a $36.00 price objective 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 research report on Friday, November 1st. Finally, Robert W. Baird boosted their target price on shares of Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bandwidth presently has an average rating of “Hold” and a consensus target price of $28.33.

Bandwidth Stock Down 3.3 %

Shares of NASDAQ BAND opened at $19.59 on Friday. The firm has a market cap of $538.92 million, a P/E ratio of -21.06 and a beta of 1.51. Bandwidth Inc. has a 1 year low of $11.01 and a 1 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 firm’s 50 day moving average price is $19.11 and its 200 day moving average price is $18.27.

Bandwidth (NASDAQ:BAND) last posted its earnings results on Thursday, October 31st. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $193.90 million for the quarter, compared to analysts’ expectations of $182.05 million. During the same period in the previous year, the company posted $0.03 earnings per share. The business’s revenue for the quarter was up 27.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bandwidth Inc. will post 0.08 earnings per share for the current 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.