Bandwidth Inc. (NASDAQ:BAND) Shares Bought by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. raised its holdings in shares of Bandwidth Inc. (NASDAQ:BAND) by 20.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 126,000 shares of the company’s stock after acquiring an additional 21,000 shares during the period. Hussman Strategic Advisors Inc.’s holdings in Bandwidth were worth $2,127,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings 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 purchasing an additional 16,181 shares during the last quarter. Acadian Asset Management LLC grew its position in Bandwidth by 15.7% during the 1st quarter. Acadian Asset Management LLC now owns 341,303 shares of the company’s stock worth $6,231,000 after purchasing an additional 46,342 shares during the period. Palogic Value Management L.P. raised its stake in shares of Bandwidth by 17.0% during the 4th quarter. Palogic Value Management L.P. now owns 300,000 shares of the company’s stock valued at $4,341,000 after buying an additional 43,675 shares during the last quarter. G2 Investment Partners Management LLC acquired a new position in shares of Bandwidth in the 4th quarter valued at about $4,079,000. Finally, Panagora Asset Management Inc. lifted its holdings in shares of Bandwidth by 50.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 139,592 shares of the company’s stock valued at $2,356,000 after buying an additional 46,547 shares during the period. 68.53% of the stock is owned by hedge funds and other institutional investors.

Bandwidth Price Performance

Shares of NASDAQ BAND traded down $0.42 during midday trading on Friday, hitting $17.16. The stock had a trading volume of 156,172 shares, compared to its average volume of 287,493. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.91. The stock has a 50 day simple moving average of $17.82 and a 200-day simple moving average of $18.24. The company has a market capitalization of $468.47 million, a PE ratio of -15.32 and a beta of 1.48. Bandwidth Inc. has a 1 year low of $9.34 and a 1 year high of $25.02.

Bandwidth (NASDAQ:BAND) last announced its earnings results on Thursday, August 1st. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. The company had revenue of $174.00 million for the quarter, compared to analysts’ expectations of $173.18 million. Bandwidth had a negative net margin of 3.21% and a negative return on equity of 1.89%. The firm’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.09) EPS. On average, sell-side analysts expect that Bandwidth Inc. will post 0.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on BAND. Canaccord Genuity Group raised their target price on Bandwidth from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Morgan Stanley lowered shares of Bandwidth from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $18.00 to $15.00 in a report on Friday, June 14th. JMP Securities reissued a “market outperform” rating and set a $36.00 price target on shares of Bandwidth in a report on Tuesday, August 27th. Robert W. Baird cut their price objective on shares of Bandwidth from $25.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Barclays dropped their target price on Bandwidth from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $25.71.

Insider Buying and Selling at Bandwidth

In related news, CFO Daryl Raiford sold 7,600 shares of Bandwidth stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $20.80, for a total transaction of $158,080.00. Following the transaction, the chief financial officer now owns 60,476 shares in the company, valued at $1,257,900.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Kade Ross sold 3,500 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $16.92, for a total transaction of $59,220.00. Following the completion of the sale, the insider now directly owns 23,322 shares in the company, valued at $394,608.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Daryl Raiford sold 7,600 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $20.80, for a total value of $158,080.00. Following the completion of the transaction, the chief financial officer now owns 60,476 shares of the company’s stock, valued at $1,257,900.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,044 shares of company stock worth $329,336. Insiders own 6.20% of the company’s stock.

Bandwidth 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.