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

Bandwidth Inc. (NASDAQ:BAND) insider Devin M. Krupka sold 3,770 shares of the company’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 directly owns 19,188 shares of the company’s stock, valued at $301,251.60. This represents a 16.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Bandwidth Stock Performance

NASDAQ:BAND traded up $0.07 on Tuesday, hitting $15.17. The company’s stock had a trading volume of 441,933 shares, compared to its average volume of 282,968. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90. Bandwidth Inc. has a one year low of $13.51 and a one year high of $25.02. The stock has a fifty day moving average of $17.17 and a two-hundred day moving average of $17.90. The firm has a market capitalization of $417.33 million, a P/E ratio of -26.61 and a beta of 1.54.

Bandwidth (NASDAQ:BAND) last announced 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). Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. The business had revenue of $209.97 million for the quarter, compared to analyst estimates of $203.68 million. During the same period in the prior year, the business earned $0.38 EPS. Research analysts predict that Bandwidth Inc. will post 0.22 earnings per share for the current year.

Analyst Ratings Changes

BAND has been the topic of several research reports. William Blair restated an “outperform” rating on shares of Bandwidth in a research note on Friday, February 21st. Morgan Stanley lifted their price target on shares of Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a research note on Wednesday, December 18th. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research report on Friday, February 21st. Finally, Barclays lowered their target price on Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BAND. Los Angeles Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 740 shares during the period. GSA Capital Partners LLP boosted its stake in Bandwidth by 32.0% in the 3rd quarter. GSA Capital Partners LLP now owns 69,986 shares of the company’s stock valued at $1,225,000 after purchasing an additional 16,968 shares during the period. Thrivent Financial for Lutherans grew its holdings in Bandwidth by 27.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 75,575 shares of the company’s stock valued at $1,323,000 after buying an additional 16,450 shares in the last quarter. Quest Partners LLC bought a new position in Bandwidth during the 3rd quarter worth $118,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Bandwidth during the third quarter worth $74,000. 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.