Bandwidth Inc. (NASDAQ:BAND) General Counsel Richard Brandon Asbill Sells 822 Shares of Stock

Bandwidth Inc. (NASDAQ:BAND) General Counsel Richard Brandon Asbill sold 822 shares of Bandwidth stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $17.39, for a total transaction of $14,294.58. Following the completion of the transaction, the general counsel now owns 43,405 shares in the company, valued at approximately $754,812.95. This trade represents a 1.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Richard Brandon Asbill also recently made the following trade(s):

• On Friday, November 29th, Richard Brandon Asbill sold 5,561 shares of Bandwidth stock. The stock was sold at an average price of $21.26, for a total value of $118,226.86.

Bandwidth Stock Up 2.6 %

BAND opened at $17.47 on Tuesday. Bandwidth Inc. has a twelve month low of $11.90 and a twelve month high of $25.02. The firm has a market cap of $480.60 million, a P/E ratio of -18.78 and a beta of 1.52. 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 business has a 50 day moving average price of $19.10 and a 200 day moving average price of $18.13.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings data 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 return on equity of 0.89% and a negative net margin of 2.23%. The business had revenue of $193.90 million for the quarter, compared to analyst estimates of $182.05 million. During the same period in the previous year, the company posted $0.03 earnings per share. The firm’s revenue for the quarter was up 27.6% on a year-over-year basis. Research analysts forecast that Bandwidth Inc. will post 0.08 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BAND shares. Morgan Stanley increased their target price on Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a report on Wednesday, December 18th. Robert W. Baird increased their price objective on Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Bandwidth presently has a consensus rating of “Hold” and an average target price of $28.83.

Institutional Trading of Bandwidth

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC raised its holdings in Bandwidth by 79.8% in the 2nd 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 in the last quarter. Daiwa Securities Group Inc. bought a new stake in shares of Bandwidth in the 2nd quarter valued at approximately $57,000. Redwood Wealth Management Group LLC acquired a new position in shares of Bandwidth in the 2nd quarter worth approximately $35,000. Dimensional Fund Advisors LP lifted its position in shares of 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 buying an additional 62,201 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of 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 buying an additional 51,542 shares during the period. 68.53% of the stock is currently owned by institutional investors and hedge funds.

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.