Richard Brandon Asbill Sells 822 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) General Counsel Richard Brandon Asbill sold 822 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $17.39, for a total value of $14,294.58. Following the sale, the general counsel now directly owns 43,405 shares in the company, valued at approximately $754,812.95. The trade was a 1.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Richard Brandon Asbill also recently made the following trade(s):

• On Friday, November 29th, Richard Brandon Asbill sold 5,561 shares of Bandwidth stock. The stock was sold at an average price of $21.26, for a total transaction of $118,226.86.

Bandwidth Trading Up 0.1 %

Shares of NASDAQ:BAND opened at $16.43 on Thursday. The firm has a market capitalization of $451.99 million, a price-to-earnings ratio of -17.67 and a beta of 1.52. The business’s 50 day moving average price is $19.05 and its 200-day moving average price is $18.13. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.29 and a quick ratio of 1.29. Bandwidth Inc. has a 1 year low of $11.90 and a 1 year high of $25.02.

Bandwidth (NASDAQ:BAND) last released its earnings results on Thursday, October 31st. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. Bandwidth had a negative net margin of 2.23% and a negative return on equity of 0.89%. The business had revenue of $193.90 million during the quarter, compared to analysts’ expectations of $182.05 million. During the same quarter in the previous year, the company earned $0.03 earnings per share. The company’s quarterly revenue was up 27.6% on a year-over-year basis. On average, equities research analysts forecast that Bandwidth Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Trading of Bandwidth

A number of institutional investors have recently made changes to their positions in the company. nVerses Capital LLC boosted its position in Bandwidth by 80.0% during the third quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $32,000 after acquiring an additional 800 shares during the last quarter. Redwood Wealth Management Group LLC purchased a new stake in Bandwidth in the 2nd quarter valued at $35,000. Quarry LP increased its stake in shares of Bandwidth by 157.6% in the 3rd quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after acquiring an additional 1,245 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of Bandwidth during the 2nd quarter worth $57,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Bandwidth during the 3rd quarter valued at about $74,000. 68.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BAND shares. Robert W. Baird increased their price target on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a report on Friday, November 1st. Finally, Morgan Stanley upped their target price on Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $28.83.

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.