G2 Investment Partners Management LLC Invests $4.08 Million in Bandwidth Inc. (NASDAQ:BAND)

G2 Investment Partners Management LLC purchased a new stake in Bandwidth Inc. (NASDAQ:BANDFree Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 281,862 shares of the company’s stock, valued at approximately $4,079,000. Bandwidth comprises 1.2% of G2 Investment Partners Management LLC’s portfolio, making the stock its 29th biggest position. G2 Investment Partners Management LLC owned approximately 1.10% of Bandwidth as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Swiss National Bank grew its position in shares of Bandwidth by 3.0% during the 3rd quarter. Swiss National Bank now owns 51,900 shares of the company’s stock valued at $585,000 after buying an additional 1,500 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Bandwidth in the third quarter worth $388,000. DekaBank Deutsche Girozentrale bought a new stake in Bandwidth during the third quarter worth approximately $75,000. Dark Forest Capital Management LP raised its position in Bandwidth by 59.7% in the third quarter. Dark Forest Capital Management LP now owns 52,331 shares of the company’s stock worth $590,000 after acquiring an additional 19,563 shares in the last quarter. Finally, B. Riley Asset Management LLC bought a new position in shares of Bandwidth in the third quarter valued at $682,000. 68.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BAND has been the topic of a number of recent research reports. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a report on Friday, May 10th. KeyCorp lifted their price target on Bandwidth from $21.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Robert W. Baird upped their price objective on shares of Bandwidth from $21.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. JMP Securities upped their price target on Bandwidth from $32.00 to $36.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 8th. Finally, Barclays upped their target price on Bandwidth from $22.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $25.38.

Get Our Latest Stock Analysis on BAND

Bandwidth Stock Down 4.8 %

Shares of BAND traded down $0.93 during mid-day trading on Thursday, hitting $18.57. 108,631 shares of the company’s stock were exchanged, compared to its average volume of 321,756. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 1.41. Bandwidth Inc. has a twelve month low of $9.34 and a twelve month high of $25.02. The firm has a fifty day moving average of $19.63 and a two-hundred day moving average of $16.57. The stock has a market cap of $501.54 million, a price-to-earnings ratio of -17.41 and a beta of 1.49.

Bandwidth (NASDAQ:BANDGet Free Report) last announced its earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.08). Bandwidth had a negative net margin of 4.60% and a negative return on equity of 2.49%. On average, sell-side analysts forecast that Bandwidth Inc. will post 0.22 earnings per share for the current year.

Insider Transactions at Bandwidth

In other Bandwidth news, insider Devin M. Krupka sold 2,500 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $21.61, for a total value of $54,025.00. Following the sale, the insider now owns 7,262 shares of the company’s stock, valued at approximately $156,931.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Bandwidth news, COO Anthony Bartolo sold 7,798 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $18.75, for a total value of $146,212.50. Following the completion of the sale, the chief operating officer now owns 76,469 shares in the company, valued at approximately $1,433,793.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Devin M. Krupka sold 2,500 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $21.61, for a total transaction of $54,025.00. Following the completion of the sale, the insider now owns 7,262 shares in the company, valued at $156,931.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,073 shares of company stock worth $722,990. 6.20% of the stock is currently owned by company insiders.

Bandwidth 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.

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Institutional Ownership by Quarter for Bandwidth (NASDAQ:BAND)

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