Insider Selling: Bandwidth Inc. (NASDAQ:BAND) CFO Sells 24,253 Shares of Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 24,253 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $15.58, for a total transaction of $377,861.74. Following the transaction, the chief financial officer now owns 113,795 shares in the company, valued at approximately $1,772,926.10. This trade represents a 17.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, January 6th, Daryl Raiford sold 1,305 shares of Bandwidth stock. The shares were sold at an average price of $17.39, for a total transaction of $22,693.95.

Bandwidth Trading Up 0.6 %

BAND opened at $15.26 on Thursday. The firm’s fifty day moving average is $17.12 and its two-hundred day moving average is $17.89. The firm has a market cap of $436.80 million, a PE ratio of -26.77 and a beta of 1.57. Bandwidth Inc. has a twelve month low of $13.51 and a twelve month high of $25.02. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.34 and a current ratio of 1.34.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.36). The firm had revenue of $209.97 million during the quarter, compared to the consensus estimate of $203.68 million. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. During the same quarter in the prior year, the company earned $0.38 EPS. Equities research analysts anticipate that Bandwidth Inc. will post 0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

BAND has been the subject of several research reports. Barclays lowered their target price on Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. William Blair reaffirmed an “outperform” rating on shares of Bandwidth in a research note on Friday, February 21st. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research note on Friday, February 21st. Finally, Morgan Stanley lifted their target price on shares of Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Bandwidth currently has an average rating of “Moderate Buy” and a consensus target price of $28.33.

Hedge Funds Weigh In On Bandwidth

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Bandwidth by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 1,769,027 shares of the company’s stock worth $30,109,000 after acquiring an additional 73,623 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Bandwidth by 9.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company’s stock valued at $21,260,000 after purchasing an additional 112,269 shares during the period. State Street Corp lifted its holdings in shares of Bandwidth by 3.7% in the third 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 in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Bandwidth by 15.3% during the fourth quarter. Renaissance Technologies LLC now owns 651,300 shares of the company’s stock worth $11,085,000 after buying an additional 86,200 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Bandwidth by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 570,910 shares of the company’s stock valued at $9,720,000 after buying an additional 2,243 shares during the last quarter. Institutional investors own 68.53% of the company’s stock.

Bandwidth Company 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.