Insider Selling: Bandwidth Inc. (NASDAQ:BAND) CFO Sells 24,253 Shares of Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 24,253 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.58, for a total value of $377,861.74. Following the transaction, the chief financial officer now directly owns 113,795 shares of the company’s stock, valued at $1,772,926.10. The trade was a 17.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Daryl Raiford also recently made the following trade(s):

• On Monday, January 6th, Daryl Raiford sold 1,305 shares of Bandwidth stock. The shares were sold at an average price of $17.39, for a total value of $22,693.95.

Bandwidth Trading Up 0.5 %

Shares of Bandwidth stock opened at $15.17 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90. The company has a fifty day simple moving average of $17.17 and a 200-day simple moving average of $17.90. The stock has a market cap of $434.23 million, a price-to-earnings ratio of -26.61 and a beta of 1.57. Bandwidth Inc. has a 12-month low of $13.51 and a 12-month high of $25.02.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings data 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). The company had revenue of $209.97 million during the quarter, compared to analyst estimates of $203.68 million. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. During the same quarter in the prior year, the company earned $0.38 EPS. On average, equities analysts forecast that Bandwidth Inc. will post 0.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on BAND. Barclays cut their target price on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research report on Friday, February 21st. Morgan Stanley raised their price objective on shares of Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a report on Wednesday, December 18th. Finally, William Blair reiterated an “outperform” rating on shares of Bandwidth in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.33.

Institutional Trading of Bandwidth

Large investors have recently made changes to their positions in the company. Mackenzie Financial Corp purchased a new stake in Bandwidth in the fourth quarter valued at approximately $456,000. Squarepoint Ops LLC increased its holdings in shares of Bandwidth by 49.8% in the 4th quarter. Squarepoint Ops LLC now owns 44,355 shares of the company’s stock valued at $755,000 after acquiring an additional 14,754 shares during the period. Two Sigma Investments LP raised its position in Bandwidth by 8.9% in the 4th quarter. Two Sigma Investments LP now owns 108,338 shares of the company’s stock valued at $1,844,000 after purchasing an additional 8,813 shares during the last quarter. Millennium Management LLC boosted its stake in Bandwidth by 213.5% during the 4th quarter. Millennium Management LLC now owns 136,442 shares of the company’s stock worth $2,322,000 after purchasing an additional 92,915 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Bandwidth by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,185 shares of the company’s stock worth $241,000 after purchasing an additional 608 shares during the last quarter. 68.53% of the stock is owned by institutional investors and hedge funds.

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.