Insider Selling: Bandwidth Inc. (NASDAQ:BAND) CFO Sells $90,479.70 in Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 4,371 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $20.70, for a total value of $90,479.70. Following the completion of the sale, the chief financial officer now owns 93,451 shares in the company, valued at $1,934,435.70. This trade represents a 4.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, November 29th, Daryl Raiford sold 10,389 shares of Bandwidth stock. The shares were sold at an average price of $21.26, for a total value of $220,870.14.
• On Tuesday, September 3rd, Daryl Raiford sold 4,350 shares of Bandwidth stock. The shares were sold at an average price of $16.97, for a total value of $73,819.50.

Bandwidth Stock Up 2.4 %

Shares of NASDAQ:BAND opened at $20.77 on Thursday. The stock’s 50-day moving average price is $18.79 and its 200-day moving average price is $18.30. Bandwidth Inc. has a 12-month low of $11.01 and a 12-month high of $25.02. The stock has a market capitalization of $571.38 million, a P/E ratio of -22.33 and a beta of 1.51. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.83.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.11. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The firm had revenue of $193.90 million for the quarter, compared to analysts’ expectations of $182.05 million. During the same period last year, the firm earned $0.03 earnings per share. The company’s revenue for the quarter was up 27.6% compared to the same quarter last year. On average, equities analysts anticipate that Bandwidth Inc. will post 0.08 earnings per share for the current year.

Wall Street Analyst Weigh In

BAND has been the topic of a number of research analyst reports. Robert W. Baird increased their target price on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. JMP Securities reissued a “market outperform” rating and issued a $36.00 target price on shares of Bandwidth in a research note on Tuesday, August 27th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $28.33.

Institutional Trading of Bandwidth

Several large investors have recently modified their holdings of the business. Franklin Resources Inc. grew its stake in shares of Bandwidth by 40.9% in the third quarter. Franklin Resources Inc. now owns 77,481 shares of the company’s stock worth $1,325,000 after purchasing an additional 22,505 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Bandwidth by 3.6% in the third quarter. Geode Capital Management LLC now owns 568,667 shares of the company’s stock worth $9,960,000 after purchasing an additional 19,832 shares during the last quarter. Barclays PLC grew its stake in shares of Bandwidth by 9.1% in the third quarter. Barclays PLC now owns 224,497 shares of the company’s stock worth $3,931,000 after purchasing an additional 18,778 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Bandwidth in the third quarter worth about $453,000. Finally, State Street Corp grew its stake in shares of Bandwidth by 3.7% in the third quarter. State Street Corp now owns 655,768 shares of the company’s stock worth $11,482,000 after purchasing an additional 23,352 shares during the last quarter. 68.53% of the stock is owned by institutional investors.

About Bandwidth

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.