Devin M. Krupka Sells 3,770 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) insider Devin M. Krupka sold 3,770 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $15.70, for a total value of $59,189.00. Following the transaction, the insider now owns 19,188 shares of the company’s stock, valued at $301,251.60. The trade was a 16.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Bandwidth Price Performance

Shares of BAND stock opened at $15.26 on Thursday. The company has a market cap of $436.80 million, a P/E ratio of -26.77 and a beta of 1.57. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.90. Bandwidth Inc. has a twelve month low of $13.51 and a twelve month high of $25.02. The business has a fifty day simple moving average of $17.12 and a 200 day simple moving average of $17.89.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.36). The business had revenue of $209.97 million for the quarter, compared to analyst estimates of $203.68 million. Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. During the same quarter last year, the firm posted $0.38 EPS. On average, sell-side analysts forecast that Bandwidth Inc. will post 0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Bandwidth

A number of institutional investors have recently modified their holdings of BAND. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Bandwidth by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,185 shares of the company’s stock worth $241,000 after acquiring an additional 608 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its position in shares of Bandwidth by 1.6% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 43,366 shares of the company’s stock valued at $738,000 after buying an additional 699 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in Bandwidth by 3.6% during the third quarter. Los Angeles Capital Management LLC now owns 21,221 shares of the company’s stock worth $372,000 after buying an additional 740 shares in the last quarter. Quarry LP raised its position in Bandwidth by 157.6% in the 3rd quarter. Quarry LP now owns 2,035 shares of the company’s stock valued at $36,000 after buying an additional 1,245 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Bandwidth by 14.5% during the fourth quarter. SG Americas Securities LLC now owns 11,102 shares of the company’s stock valued at $189,000 after purchasing an additional 1,407 shares in the last quarter. 68.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Morgan Stanley raised their price target on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research note on Friday, February 21st. Barclays lowered their price objective on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Finally, William Blair reaffirmed an “outperform” rating on shares of Bandwidth in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” 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.