Bandwidth Inc. (NASDAQ:BAND) Shares Bought by Barclays PLC

Barclays PLC lifted its holdings in shares of Bandwidth Inc. (NASDAQ:BAND) by 9.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 224,497 shares of the company’s stock after buying an additional 18,778 shares during the quarter. Barclays PLC owned approximately 0.82% of Bandwidth worth $3,931,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Y Intercept Hong Kong Ltd acquired a new stake in Bandwidth in the 3rd quarter valued at $453,000. State Street Corp lifted its holdings in Bandwidth by 3.7% during the third quarter. State Street Corp now owns 655,768 shares of the company’s stock valued at $11,482,000 after purchasing an additional 23,352 shares in the last quarter. Quarry LP grew its position in shares of Bandwidth by 157.6% in the third quarter. Quarry LP now owns 2,035 shares of the company’s stock valued at $36,000 after purchasing an additional 1,245 shares during the period. Centiva Capital LP purchased a new stake in shares of Bandwidth during the third quarter worth about $191,000. Finally, BNP Paribas Financial Markets raised its position in shares of Bandwidth by 26.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 53,515 shares of the company’s stock worth $937,000 after purchasing an additional 11,033 shares during the last quarter. 68.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, General Counsel Richard Brandon Asbill sold 5,561 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.26, for a total value of $118,226.86. Following the transaction, the general counsel now directly owns 41,825 shares in the company, valued at approximately $889,199.50. This represents a 11.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David A. Morken sold 15,410 shares of Bandwidth stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $327,616.60. Following the completion of the sale, the chief executive officer now owns 101,821 shares of the company’s stock, valued at $2,164,714.46. This trade represents a 13.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,733 shares of company stock valued at $948,310 over the last quarter. 6.20% of the stock is owned by insiders.

Bandwidth Trading Up 0.8 %

Shares of BAND stock opened at $18.12 on Monday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.83. Bandwidth Inc. has a twelve month low of $11.90 and a twelve month high of $25.02. The company’s 50-day moving average price is $19.26 and its 200-day moving average price is $18.15. The stock has a market cap of $498.48 million, a price-to-earnings ratio of -19.48 and a beta of 1.51.

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

Wall Street Analysts Forecast Growth

BAND has been the topic of several research analyst reports. Morgan Stanley lifted their price objective on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a report on Wednesday, December 18th. Robert W. Baird boosted their price target on Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a report on Friday, November 1st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $36.00 target price on shares of Bandwidth in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $28.83.

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.