Bandwidth Inc. (NASDAQ:BAND) Insider Devin M. Krupka Sells 3,658 Shares

Bandwidth Inc. (NASDAQ:BAND) insider Devin M. Krupka sold 3,658 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $21.26, for a total transaction of $77,769.08. Following the completion of the transaction, the insider now owns 11,097 shares of the company’s stock, valued at $235,922.22. This trade represents a 24.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Bandwidth Stock Down 3.9 %

Shares of Bandwidth stock opened at $20.29 on Wednesday. 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 company has a 50-day moving average of $18.71 and a 200 day moving average of $18.29. The firm has a market cap of $558.18 million, a price-to-earnings ratio of -21.82 and a beta of 1.51. Bandwidth Inc. has a 1 year low of $11.01 and a 1 year high of $25.02.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.43 EPS for the quarter, beating 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 the consensus estimate of $182.05 million. During the same period in the prior year, the firm posted $0.03 EPS. Bandwidth’s revenue for the quarter was up 27.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Bandwidth Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Trading of Bandwidth

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Bandwidth by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 1,536,051 shares of the company’s stock valued at $28,048,000 after purchasing an additional 16,181 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Bandwidth by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,043,013 shares of the company’s stock valued at $17,606,000 after purchasing an additional 62,201 shares during the last quarter. State Street Corp grew its position in Bandwidth by 3.7% during the 3rd 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 during the last quarter. Acadian Asset Management LLC grew its position in Bandwidth by 79.8% during the 2nd 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. Finally, Renaissance Technologies LLC grew its position in Bandwidth by 9.3% during the 2nd quarter. Renaissance Technologies LLC now owns 604,200 shares of the company’s stock valued at $10,199,000 after purchasing an additional 51,542 shares during the last quarter. 68.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a report on Friday, November 1st. JMP Securities restated a “market outperform” rating and issued a $36.00 price objective on shares of Bandwidth in a report on Tuesday, August 27th. Finally, Robert W. Baird upped their price objective on shares of Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $28.33.

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.