Richard Brandon Asbill Sells 9,878 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) General Counsel Richard Brandon Asbill sold 9,878 shares of Bandwidth stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $15.24, for a total transaction of $150,540.72. Following the sale, the general counsel now owns 42,475 shares in the company, valued at approximately $647,319. This represents a 18.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Richard Brandon Asbill also recently made the following trade(s):

• On Monday, March 3rd, Richard Brandon Asbill sold 5,629 shares of Bandwidth stock. The stock was sold at an average price of $15.70, for a total transaction of $88,375.30.
• On Tuesday, January 21st, Richard Brandon Asbill sold 499 shares of Bandwidth stock. The stock was sold at an average price of $16.01, for a total value of $7,988.99.
• On Monday, January 6th, Richard Brandon Asbill sold 822 shares of Bandwidth stock. The shares were sold at an average price of $17.39, for a total value of $14,294.58.

Bandwidth Trading Down 1.2 %

Shares of Bandwidth stock opened at $15.13 on Friday. The stock has a market capitalization of $433.08 million, a PE ratio of -26.54 and a beta of 1.57. Bandwidth Inc. has a 52 week low of $13.51 and a 52 week high of $25.02. The stock has a 50 day moving average price of $17.02 and a two-hundred day moving average price of $17.85. 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 posted its quarterly earnings results on Thursday, February 20th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.36). The business had revenue of $209.97 million during the quarter, compared to analyst estimates 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 period in the previous year, the business posted $0.38 EPS. As a group, equities analysts anticipate that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on BAND. Barclays reduced their target price on Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. William Blair reissued an “outperform” rating on shares of Bandwidth in a research note on Friday, February 21st. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a report on Friday, February 21st. Finally, Morgan Stanley boosted their price objective on Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” 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 the business. Vanguard Group Inc. boosted its stake in Bandwidth by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 1,769,027 shares of the company’s stock valued at $30,109,000 after purchasing an additional 73,623 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Bandwidth by 9.9% in the fourth 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 in the last quarter. State Street Corp boosted its position in shares of Bandwidth by 3.7% during the third quarter. State Street Corp now owns 655,768 shares of the company’s stock valued at $11,482,000 after buying an additional 23,352 shares during the last quarter. Renaissance Technologies LLC grew its holdings in 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 grew its holdings in Bandwidth by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 570,910 shares of the company’s stock worth $9,720,000 after buying an additional 2,243 shares in the last quarter. 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.