Bandwidth Inc. (NASDAQ:BAND) Director Lukas M. Roush Acquires 4,963 Shares

Bandwidth Inc. (NASDAQ:BAND) Director Lukas M. Roush acquired 4,963 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average cost of $16.12 per share, with a total value of $80,003.56. Following the acquisition, the director now directly owns 43,167 shares of the company’s stock, valued at approximately $695,852.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Bandwidth Price Performance

NASDAQ BAND traded down $0.38 during trading hours on Tuesday, reaching $15.20. The company had a trading volume of 325,264 shares, compared to its average volume of 330,148. The stock has a 50-day moving average of $19.58 and a 200 day moving average of $16.72. Bandwidth Inc. has a 1-year low of $9.34 and a 1-year high of $25.02. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 1.41.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.08). The business had revenue of $171.03 million for the quarter, compared to analyst estimates of $165.10 million. Bandwidth had a negative return on equity of 2.49% and a negative net margin of 4.60%. Analysts expect that Bandwidth Inc. will post 0.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Morgan Stanley lowered shares of Bandwidth from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $18.00 to $15.00 in a report on Friday. Canaccord Genuity Group upped their price objective on shares of Bandwidth from $38.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. KeyCorp upped their price objective on shares of Bandwidth from $21.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Robert W. Baird upped their price objective on shares of Bandwidth from $21.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Finally, JMP Securities upped their target price on shares of Bandwidth from $32.00 to $36.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $25.63.

Institutional Trading of Bandwidth

Hedge funds have recently made changes to their positions in the business. G2 Investment Partners Management LLC acquired a new stake in shares of Bandwidth during the fourth quarter worth about $4,079,000. DekaBank Deutsche Girozentrale acquired a new stake in Bandwidth in the third quarter valued at approximately $75,000. Swiss National Bank raised its holdings in Bandwidth by 3.0% in the third quarter. Swiss National Bank now owns 51,900 shares of the company’s stock valued at $585,000 after acquiring an additional 1,500 shares in the last quarter. Vanguard Group Inc. raised its holdings in Bandwidth by 3.0% in the third quarter. Vanguard Group Inc. now owns 1,480,343 shares of the company’s stock valued at $16,683,000 after acquiring an additional 43,411 shares in the last quarter. Finally, Palogic Value Management L.P. raised its holdings in Bandwidth by 17.0% in the fourth quarter. Palogic Value Management L.P. now owns 300,000 shares of the company’s stock valued at $4,341,000 after acquiring an additional 43,675 shares in the last quarter. Institutional investors and hedge funds own 68.53% of the company’s stock.

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.