Daryl Raiford Sells 1,245 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 1,245 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $17.42, for a total value of $21,687.90. Following the completion of the transaction, the chief financial officer now owns 65,294 shares of the company’s stock, valued at $1,137,421.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Daryl Raiford also recently made the following trade(s):

• On Tuesday, July 23rd, Daryl Raiford sold 1,769 shares of Bandwidth stock. The stock was sold at an average price of $22.22, for a total transaction of $39,307.18.
• On Wednesday, June 5th, Daryl Raiford sold 7,600 shares of Bandwidth stock. The shares were sold at an average price of $20.80, for a total transaction of $158,080.00.
• On Friday, May 31st, Daryl Raiford sold 13,410 shares of Bandwidth stock. The stock was sold at an average price of $20.01, for a total transaction of $268,334.10.

Bandwidth Price Performance

Shares of Bandwidth stock opened at $17.16 on Friday. The stock has a market cap of $463.46 million, a price-to-earnings ratio of -15.32 and a beta of 1.48. The company has a debt-to-equity ratio of 1.41, a quick ratio of 2.36 and a current ratio of 2.36. The stock has a 50 day moving average price of $17.82 and a 200-day moving average price of $18.20. Bandwidth Inc. has a one year low of $9.34 and a one year high of $25.02.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. Bandwidth had a negative net margin of 3.21% and a negative return on equity of 1.92%. The company had revenue of $174.00 million during the quarter, compared to analyst estimates of $173.18 million. During the same period in the previous year, the firm earned ($0.09) earnings per share. Bandwidth’s quarterly revenue was up 19.2% compared to the same quarter last year. Equities analysts expect that Bandwidth Inc. will post 0.16 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BAND shares. Robert W. Baird reduced their target price on Bandwidth from $25.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Barclays reduced their price objective on Bandwidth from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Canaccord Genuity Group increased their target price on Bandwidth from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. JMP Securities restated a “market outperform” rating and issued a $36.00 price target on shares of Bandwidth in a research report on Tuesday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bandwidth has an average rating of “Hold” and an average price target of $25.71.

Hedge Funds Weigh In On Bandwidth

Hedge funds have recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in Bandwidth in the second quarter worth about $30,000. Redwood Wealth Management Group LLC purchased a new stake in shares of Bandwidth in the second quarter worth approximately $35,000. Ameritas Investment Partners Inc. raised its holdings in shares of Bandwidth by 31.6% in the first quarter. Ameritas Investment Partners Inc. now owns 2,355 shares of the company’s stock worth $43,000 after buying an additional 565 shares during the period. Daiwa Securities Group Inc. bought a new stake in shares of Bandwidth during the 2nd quarter worth approximately $57,000. Finally, Quest Partners LLC purchased a new position in Bandwidth during the 4th quarter valued at $145,000. 68.53% of the stock is currently owned by 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.