David A. Morken Sells 13,653 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) CEO David A. Morken sold 13,653 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $15.70, for a total value of $214,352.10. Following the completion of the transaction, the chief executive officer now directly owns 142,439 shares in the company, valued at approximately $2,236,292.30. This trade represents a 8.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Bandwidth Stock Up 0.5 %

BAND stock traded up $0.07 during mid-day trading on Tuesday, reaching $15.17. The company had a trading volume of 441,933 shares, compared to its average volume of 282,968. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $417.33 million, a price-to-earnings ratio of -26.61 and a beta of 1.54. The firm has a fifty day simple moving average of $17.17 and a 200 day simple moving average of $17.90. Bandwidth Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $25.02.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $203.68 million. During the same quarter in the previous year, the company posted $0.38 EPS. Analysts forecast that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew 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 worth $30,109,000 after buying an additional 73,623 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Bandwidth by 9.9% in the 4th 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 during the last quarter. State Street Corp grew its stake in shares of Bandwidth by 3.7% in the 3rd quarter. State Street Corp now owns 655,768 shares of the company’s stock valued at $11,482,000 after purchasing an additional 23,352 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Bandwidth by 15.3% in the 4th quarter. Renaissance Technologies LLC now owns 651,300 shares of the company’s stock valued at $11,085,000 after purchasing an additional 86,200 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Bandwidth by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 570,910 shares of the company’s stock valued at $9,720,000 after purchasing an additional 2,243 shares during the last quarter. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Analyst Ratings Changes

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