Raymond James & Associates Buys Shares of 10,201 Bandwidth Inc. (NASDAQ:BAND)

Raymond James & Associates bought a new position in shares of Bandwidth Inc. (NASDAQ:BANDFree Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,201 shares of the company’s stock, valued at approximately $115,000.

A number of other large investors have also recently made changes to their positions in the company. Millennium Management LLC increased its stake in Bandwidth by 395.6% in the fourth quarter. Millennium Management LLC now owns 729,722 shares of the company’s stock valued at $16,747,000 after purchasing an additional 582,494 shares during the last quarter. Capital Research Global Investors increased its position in shares of Bandwidth by 27.5% in the first quarter. Capital Research Global Investors now owns 2,324,883 shares of the company’s stock valued at $75,303,000 after buying an additional 501,958 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Bandwidth by 347.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 635,058 shares of the company’s stock worth $9,653,000 after purchasing an additional 492,996 shares in the last quarter. Smith Graham & Co. Investment Advisors LP purchased a new stake in Bandwidth during the 2nd quarter worth about $6,734,000. Finally, Renaissance Technologies LLC increased its position in Bandwidth by 254.7% during the 1st quarter. Renaissance Technologies LLC now owns 468,200 shares of the company’s stock worth $15,165,000 after purchasing an additional 336,200 shares in the last quarter. 69.32% of the stock is currently owned by hedge funds and other institutional investors.

Bandwidth Price Performance

Shares of BAND opened at $14.23 on Thursday. The company has a market cap of $364.89 million, a P/E ratio of -18.01 and a beta of 1.42. The stock has a fifty day moving average price of $13.49 and a 200 day moving average price of $12.78. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.16 and a quick ratio of 2.16. Bandwidth Inc. has a 12 month low of $9.34 and a 12 month high of $27.94.

Wall Street Analysts Forecast Growth

Several research firms have commented on BAND. Piper Sandler lowered their price target on Bandwidth from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. Morgan Stanley cut their target price on Bandwidth from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 19th. KeyCorp upped their target price on Bandwidth from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Friday, January 19th. Finally, William Blair reiterated an “outperform” rating on shares of Bandwidth in a report on Friday, November 3rd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Bandwidth has an average rating of “Moderate Buy” and an average price target of $20.13.

Get Our Latest Stock Report on Bandwidth

Insider Buying and Selling

In other Bandwidth news, CEO David A. Morken sold 7,079 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $11.33, for a total transaction of $80,205.07. Following the completion of the transaction, the chief executive officer now owns 45,067 shares in the company, valued at approximately $510,609.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Bandwidth news, CEO David A. Morken sold 7,079 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $11.33, for a total transaction of $80,205.07. Following the completion of the transaction, the chief executive officer now owns 45,067 shares in the company, valued at approximately $510,609.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David A. Morken sold 3,790 shares of the business’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $13.63, for a total value of $51,657.70. Following the transaction, the chief executive officer now owns 59,970 shares of the company’s stock, valued at approximately $817,391.10. The disclosure for this sale can be found here. Insiders sold a total of 26,492 shares of company stock worth $314,603 in the last three months. 5.80% of the stock is owned by insiders.

Bandwidth Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Bandwidth (NASDAQ:BAND)

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