Insider Selling: Bandwidth Inc. (NASDAQ:BAND) CFO Sells 10,389 Shares of Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 10,389 shares of Bandwidth stock in a transaction on Friday, November 29th. The stock was sold at an average price of $21.26, for a total transaction of $220,870.14. Following the transaction, the chief financial officer now owns 87,220 shares in the company, valued at approximately $1,854,297.20. This trade represents a 10.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Daryl Raiford also recently made the following trade(s):

• On Monday, December 2nd, Daryl Raiford sold 4,371 shares of Bandwidth stock. The stock was sold at an average price of $20.70, for a total transaction of $90,479.70.
• On Tuesday, September 3rd, Daryl Raiford sold 4,350 shares of Bandwidth stock. The shares were sold at an average price of $16.97, for a total transaction of $73,819.50.

Bandwidth Trading Up 2.4 %

BAND opened at $20.77 on Thursday. Bandwidth Inc. has a 1-year low of $11.01 and a 1-year high of $25.02. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.83. The company has a market cap of $571.38 million, a P/E ratio of -22.33 and a beta of 1.51. The company has a fifty day moving average price of $18.79 and a two-hundred day moving average price of $18.30.

Bandwidth (NASDAQ:BAND) last posted 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. Bandwidth had a negative net margin of 2.23% and a negative return on equity of 0.89%. The firm had revenue of $193.90 million during the quarter, compared to the consensus estimate of $182.05 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The business’s revenue was up 27.6% compared to the same quarter last year. Analysts predict that Bandwidth Inc. will post 0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Robert W. Baird boosted 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 restated a “hold” rating on shares of Bandwidth in a report on Friday, November 1st. Finally, JMP Securities restated a “market outperform” rating and issued a $36.00 target price on shares of Bandwidth in a report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $28.33.

Institutional Investors Weigh In On Bandwidth

Several hedge funds and other institutional investors have recently made changes to their positions in BAND. Vanguard Group Inc. increased its position in shares of Bandwidth by 1.1% during the first quarter. Vanguard Group Inc. now owns 1,536,051 shares of the company’s stock worth $28,048,000 after acquiring an additional 16,181 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Bandwidth by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,713 shares of the company’s stock worth $269,000 after acquiring an additional 1,334 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of Bandwidth by 40.6% during the second quarter. Baillie Gifford & Co. now owns 30,412 shares of the company’s stock worth $513,000 after acquiring an additional 8,789 shares in the last quarter. Panagora Asset Management Inc. increased its position in shares of Bandwidth by 50.0% during the second quarter. Panagora Asset Management Inc. now owns 139,592 shares of the company’s stock worth $2,356,000 after acquiring an additional 46,547 shares in the last quarter. Finally, Innealta Capital LLC bought a new stake in shares of Bandwidth during the second quarter worth about $30,000. 68.53% of the stock is owned by institutional investors.

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.