Devin M. Krupka Sells 3,658 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) insider Devin M. Krupka sold 3,658 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $21.26, for a total value of $77,769.08. Following the completion of the transaction, the insider now owns 11,097 shares in the company, valued at approximately $235,922.22. This represents a 24.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Bandwidth Trading Up 2.4 %

NASDAQ BAND opened at $20.77 on Thursday. The stock has a market capitalization of $571.38 million, a price-to-earnings ratio of -22.33 and a beta of 1.51. Bandwidth Inc. has a one year low of $11.01 and a one year high of $25.02. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.29 and a quick ratio of 1.29. The business’s fifty day moving average is $18.79 and its 200-day moving average is $18.30.

Bandwidth (NASDAQ:BAND) last released its earnings results on Thursday, October 31st. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. The company had revenue of $193.90 million for the quarter, compared to analysts’ expectations of $182.05 million. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The business’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.03 EPS. Equities research analysts predict that Bandwidth Inc. will post 0.08 EPS for the current year.

Institutional Investors Weigh In On Bandwidth

A number of hedge funds have recently made changes to their positions in BAND. Los Angeles Capital Management LLC increased its holdings in Bandwidth by 3.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 21,221 shares of the company’s stock worth $372,000 after acquiring an additional 740 shares during the last quarter. nVerses Capital LLC increased its holdings in Bandwidth by 80.0% in the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $32,000 after acquiring an additional 800 shares during the last quarter. Quarry LP increased its holdings in Bandwidth by 157.6% in the 3rd quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after acquiring an additional 1,245 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Bandwidth by 10.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,713 shares of the company’s stock worth $269,000 after acquiring an additional 1,334 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its holdings in Bandwidth by 2.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 50,374 shares of the company’s stock worth $850,000 after acquiring an additional 1,342 shares during the last quarter. 68.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BAND has been the topic of a number of recent research reports. Robert W. Baird increased their target price on Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. JMP Securities restated a “market outperform” rating and set a $36.00 price objective on shares of Bandwidth in a research note on Tuesday, August 27th. Finally, Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $28.33.

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.