Daryl Raiford Sells 4,371 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 4,371 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $20.70, for a total transaction of $90,479.70. Following the completion of the sale, the chief financial officer now owns 93,451 shares of the company’s stock, valued at $1,934,435.70. This trade represents a 4.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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 Tuesday, September 3rd, Daryl Raiford sold 4,350 shares of Bandwidth stock. The stock was sold at an average price of $16.97, for a total transaction of $73,819.50.

Bandwidth Price Performance

Shares of BAND opened at $20.77 on Thursday. The company has a market capitalization of $571.38 million, a P/E ratio of -22.33 and a beta of 1.51. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.83. The firm has a 50 day moving average of $18.79 and a 200 day moving average of $18.30. Bandwidth Inc. has a twelve month low of $11.01 and a twelve month high of $25.02.

Bandwidth (NASDAQ:BAND) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $182.05 million. Bandwidth had a negative net margin of 2.23% and a negative return on equity of 0.89%. The firm’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.03 earnings per share. As a group, equities research analysts anticipate that Bandwidth Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bandwidth

Large investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new stake in Bandwidth in the 2nd quarter worth approximately $30,000. nVerses Capital LLC grew its position in shares of Bandwidth by 80.0% during the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $32,000 after acquiring an additional 800 shares during the period. Quarry LP grew its position in shares of Bandwidth by 157.6% during the 3rd quarter. Quarry LP now owns 2,035 shares of the company’s stock valued at $36,000 after acquiring an additional 1,245 shares during the period. Redwood Wealth Management Group LLC bought a new stake in shares of Bandwidth during the 2nd quarter valued at $35,000. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Bandwidth during the 2nd quarter valued at $57,000. Institutional investors own 68.53% of the company’s stock.

Wall Street Analyst Weigh In

BAND has been the subject of several recent research reports. Robert W. Baird lifted their target price on shares of Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a report 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 report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bandwidth currently has an average rating of “Hold” and an average 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.