Bandwidth Inc. (NASDAQ:BAND) CEO Sells $20,720.37 in Stock

Bandwidth Inc. (NASDAQ:BAND) CEO David A. Morken sold 1,221 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $16.97, for a total transaction of $20,720.37. Following the transaction, the chief executive officer now owns 112,560 shares in the company, valued at approximately $1,910,143.20. The trade was a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Bandwidth Stock Up 2.6 %

Shares of BAND traded up $0.45 during mid-day trading on Monday, reaching $17.47. 221,689 shares of the stock traded hands, compared to its average volume of 270,030. The firm has a market cap of $480.60 million, a price-to-earnings ratio of -18.78 and a beta of 1.52. The stock has a fifty day simple moving average of $19.10 and a 200 day simple moving average of $18.13. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.83. Bandwidth Inc. has a 12-month low of $11.90 and a 12-month high of $25.02.

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

Wall Street Analyst Weigh In

BAND has been the topic of a number of recent analyst reports. Robert W. Baird increased their price target on shares of Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. Finally, Morgan Stanley boosted their target price on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Bandwidth presently has an average rating of “Hold” and a consensus target price of $28.83.

Institutional Investors Weigh In On Bandwidth

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in shares of Bandwidth by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,043,013 shares of the company’s stock worth $17,606,000 after buying an additional 62,201 shares in the last quarter. State Street Corp boosted its stake in Bandwidth by 3.7% during the 3rd quarter. State Street Corp now owns 655,768 shares of the company’s stock valued at $11,482,000 after acquiring an additional 23,352 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Bandwidth by 79.8% during the 2nd quarter. Acadian Asset Management LLC now owns 613,612 shares of the company’s stock valued at $10,353,000 after acquiring an additional 272,309 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Bandwidth by 9.3% during the 2nd quarter. Renaissance Technologies LLC now owns 604,200 shares of the company’s stock worth $10,199,000 after acquiring an additional 51,542 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its position in shares of Bandwidth by 411.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 597,933 shares of the company’s stock worth $10,093,000 after purchasing an additional 480,933 shares during the last quarter. 68.53% of the stock is currently owned by hedge funds and other institutional investors.

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.