AlphaQuest LLC Has $301,000 Stock Holdings in Bandwidth Inc. (NASDAQ:BAND)

AlphaQuest LLC raised its stake in Bandwidth Inc. (NASDAQ:BAND) by 162.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 17,684 shares of the company’s stock after buying an additional 10,936 shares during the period. AlphaQuest LLC’s holdings in Bandwidth were worth $301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of BAND. State Street Corp boosted its holdings in shares of Bandwidth by 3.7% during the 3rd quarter. State Street Corp now owns 655,768 shares of the company’s stock worth $11,482,000 after buying an additional 23,352 shares during the period. Geode Capital Management LLC lifted its position in Bandwidth by 3.6% during the third quarter. Geode Capital Management LLC now owns 568,667 shares of the company’s stock worth $9,960,000 after acquiring an additional 19,832 shares during the last quarter. FMR LLC boosted its holdings in shares of Bandwidth by 70.3% during the third quarter. FMR LLC now owns 371,215 shares of the company’s stock worth $6,500,000 after acquiring an additional 153,223 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Bandwidth by 35.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 324,199 shares of the company’s stock valued at $5,677,000 after purchasing an additional 83,979 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Bandwidth by 12.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 300,076 shares of the company’s stock worth $5,107,000 after purchasing an additional 32,709 shares during the period. 68.53% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Daryl Raiford sold 24,253 shares of Bandwidth stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $15.58, for a total transaction of $377,861.74. Following the transaction, the chief financial officer now owns 113,795 shares in the company, valued at approximately $1,772,926.10. The trade was a 17.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Devin M. Krupka sold 3,770 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $15.70, for a total value of $59,189.00. Following the completion of the sale, the insider now owns 19,188 shares of the company’s stock, valued at $301,251.60. The trade was a 16.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,510 shares of company stock valued at $1,109,806 over the last quarter. 6.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

BAND has been the subject of several recent research reports. William Blair restated an “outperform” rating on shares of Bandwidth in a research note on Friday, February 21st. Morgan Stanley boosted their target price on shares of Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a research report on Wednesday, December 18th. Barclays lowered their price target on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Finally, Needham & Company LLC reiterated a “hold” 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.com, Bandwidth has a consensus rating of “Moderate Buy” and an average target price of $28.33.

Bandwidth Stock Performance

NASDAQ BAND opened at $14.85 on Friday. The firm’s fifty day moving average price is $16.80 and its two-hundred day moving average price is $17.77. The stock has a market cap of $425.07 million, a PE ratio of -26.05 and a beta of 1.57. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.34 and a current ratio of 1.34. Bandwidth Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $25.02.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.36). The firm had revenue of $209.97 million for the quarter, compared to the consensus estimate of $203.68 million. Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. During the same quarter in the prior year, the firm earned $0.38 EPS. On average, equities analysts expect that Bandwidth Inc. will post 0.22 EPS for the current fiscal year.

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.