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

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 1,305 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $17.39, for a total transaction of $22,693.95. Following the completion of the sale, the chief financial officer now owns 96,522 shares of the company’s stock, valued at $1,678,517.58. This trade represents a 1.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 stock was sold at an average price of $21.26, for a total transaction of $220,870.14.
• On Monday, December 2nd, Daryl Raiford sold 4,371 shares of Bandwidth stock. The shares were sold at an average price of $20.70, for a total value of $90,479.70.

Bandwidth Price Performance

BAND opened at $17.47 on Tuesday. The company has a market capitalization of $480.60 million, a price-to-earnings ratio of -18.78 and a beta of 1.52. 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 12-month low of $11.90 and a 12-month high of $25.02. The business’s fifty day simple moving average is $19.10 and its 200-day simple moving average is $18.13.

Bandwidth (NASDAQ:BAND) last issued its earnings results 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 net margin of 2.23% and a negative return on equity of 0.89%. The company had revenue of $193.90 million for the quarter, compared to analysts’ expectations of $182.05 million. During the same period in the prior year, the business earned $0.03 EPS. The firm’s quarterly revenue was up 27.6% on a year-over-year basis. On average, equities research analysts anticipate that Bandwidth Inc. will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bandwidth

A number of large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in shares of Bandwidth by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,043,013 shares of the company’s stock valued at $17,606,000 after acquiring an additional 62,201 shares during the period. State Street Corp boosted its position 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. Acadian Asset Management LLC grew its stake in 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 purchasing an additional 272,309 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Bandwidth by 9.3% in the second 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 in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in shares of Bandwidth by 411.1% during the second quarter. Point72 Asset Management L.P. now owns 597,933 shares of the company’s stock valued at $10,093,000 after buying an additional 480,933 shares during the last quarter. Institutional investors own 68.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BAND. Robert W. Baird raised their price target on Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Morgan Stanley lifted their target price on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th. Finally, Needham & Company LLC restated 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 assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.