Daryl Raiford Sells 24,253 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 24,253 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $15.58, for a total value of $377,861.74. Following the completion of the sale, the chief financial officer now directly owns 113,795 shares of the company’s stock, valued at $1,772,926.10. This represents a 17.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 Price Performance

Shares of NASDAQ BAND traded up $0.07 during midday trading on Tuesday, reaching $15.17. 441,933 shares of the company traded hands, compared to its average volume of 282,968. The firm has a market cap of $417.33 million, a PE ratio of -26.61 and a beta of 1.54. The stock’s 50-day simple moving average is $17.17 and its 200-day simple moving average is $17.90. Bandwidth Inc. has a 12 month low of $13.51 and a 12 month high of $25.02. 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 (NASDAQ:BAND) last announced its earnings results 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). 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 analyst estimates of $203.68 million. During the same quarter last year, the business posted $0.38 earnings per share. As a group, equities analysts anticipate that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on BAND. William Blair reaffirmed an “outperform” rating on shares of Bandwidth in a research report on Friday, February 21st. Barclays reduced their target price on Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Morgan Stanley raised their target price on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Bandwidth presently has an average rating of “Moderate Buy” and a consensus price target of $28.33.

Institutional Trading of Bandwidth

A number of hedge funds and other institutional investors have recently made changes to their positions in BAND. Covestor Ltd acquired a new stake in Bandwidth in the fourth quarter worth about $25,000. Quarry LP increased its position in Bandwidth by 157.6% in the third quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after purchasing an additional 1,245 shares during the period. New Age Alpha Advisors LLC acquired a new stake in Bandwidth in the fourth quarter worth about $50,000. SBI Securities Co. Ltd. acquired a new stake in Bandwidth in the fourth quarter worth about $69,000. Finally, Meeder Asset Management Inc. acquired a new stake in Bandwidth in the third quarter worth about $74,000. 68.53% of the stock is currently 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.