Bandwidth Inc. (NASDAQ:BAND) Shares Sold by Versor Investments LP

Versor Investments LP decreased its stake in Bandwidth Inc. (NASDAQ:BAND) by 22.4% during the third quarter, Holdings Channel reports. The institutional investor owned 11,757 shares of the company’s stock after selling 3,400 shares during the quarter. Versor Investments LP’s holdings in Bandwidth were worth $206,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Resurgent Financial Advisors LLC boosted its position in Bandwidth by 4.6% in the 1st quarter. Resurgent Financial Advisors LLC now owns 11,840 shares of the company’s stock worth $216,000 after purchasing an additional 520 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Bandwidth by 31.6% during the first quarter. Ameritas Investment Partners Inc. now owns 2,355 shares of the company’s stock worth $43,000 after buying an additional 565 shares in the last quarter. Los Angeles Capital Management LLC grew its position in Bandwidth by 3.6% during the third quarter. Los Angeles Capital Management LLC now owns 21,221 shares of the company’s stock valued at $372,000 after buying an additional 740 shares during the period. nVerses Capital LLC grew its position in Bandwidth by 80.0% during the third quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $32,000 after buying an additional 800 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Bandwidth by 10.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,713 shares of the company’s stock valued at $269,000 after buying an additional 1,334 shares in the last quarter. 68.53% of the stock is owned by institutional investors and hedge funds.

Bandwidth Stock Performance

NASDAQ BAND opened at $18.57 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.29 and a quick ratio of 1.29. The stock’s 50 day simple moving average is $17.95 and its 200-day simple moving average is $18.39. The company has a market cap of $510.86 million, a PE ratio of -19.97 and a beta of 1.50. Bandwidth Inc. has a 1-year low of $10.60 and a 1-year high of $25.02.

Bandwidth (NASDAQ:BAND) last announced 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 quarter in the previous year, the company posted $0.03 EPS. The firm’s quarterly revenue was up 27.6% on a year-over-year basis. As a group, equities research analysts anticipate that Bandwidth Inc. will post 0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BAND has been the topic of a number of analyst reports. Barclays dropped their target price on Bandwidth from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Robert W. Baird raised their price objective on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. Finally, JMP Securities reiterated a “market outperform” rating and set a $36.00 target price on shares of Bandwidth in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $28.33.

Insider Activity at Bandwidth

In other Bandwidth news, CFO Daryl Raiford sold 4,350 shares of the business’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 transaction, the chief financial officer now owns 71,546 shares of the company’s stock, valued at approximately $1,214,135.62. The trade was a 5.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 8,630 shares of company stock valued at $148,515. Corporate insiders own 6.20% of the company’s stock.

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.