Sei Investments Co. Has $929,000 Stock Position in Bandwidth Inc. (NASDAQ:BAND)

Sei Investments Co. lessened its position in Bandwidth Inc. (NASDAQ:BAND) by 39.7% in the fourth quarter, HoldingsChannel reports. The fund owned 54,608 shares of the company’s stock after selling 35,986 shares during the quarter. Sei Investments Co.’s holdings in Bandwidth were worth $929,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BAND. Counterpoint Mutual Funds LLC bought a new position in shares of Bandwidth in the 4th quarter worth $384,000. one8zero8 LLC bought a new position in shares of Bandwidth in the fourth quarter valued at $170,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Bandwidth by 61.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 524,586 shares of the company’s stock valued at $8,928,000 after buying an additional 200,387 shares during the last quarter. AlphaQuest LLC increased its position in shares of Bandwidth by 162.1% during the fourth quarter. AlphaQuest LLC now owns 17,684 shares of the company’s stock worth $301,000 after acquiring an additional 10,936 shares in the last quarter. Finally, Inceptionr LLC acquired a new stake in shares of Bandwidth in the 4th quarter worth about $202,000. Institutional investors own 68.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a report on Friday, February 21st. William Blair restated an “outperform” rating on shares of Bandwidth in a research note on Friday, February 21st. Morgan Stanley upped their target price on shares of Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th. Finally, Barclays lowered their target price on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bandwidth currently has an average rating of “Moderate Buy” and a consensus target price of $28.33.

Insider Transactions at Bandwidth

In other Bandwidth news, CEO David A. Morken sold 13,653 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $15.70, for a total transaction of $214,352.10. Following the sale, the chief executive officer now directly owns 142,439 shares of the company’s stock, valued at $2,236,292.30. This represents a 8.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Daryl Raiford sold 24,253 shares of Bandwidth stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $15.58, for a total transaction of $377,861.74. Following the completion of the transaction, the chief financial officer now owns 113,795 shares of the company’s stock, valued at $1,772,926.10. The trade was a 17.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,220 shares of company stock worth $1,000,954 in the last quarter. Insiders own 6.20% of the company’s stock.

Bandwidth Trading Down 1.5 %

Shares of Bandwidth stock opened at $12.17 on Tuesday. The firm has a market cap of $348.35 million, a PE ratio of -21.35 and a beta of 1.89. Bandwidth Inc. has a 1 year low of $11.47 and a 1 year high of $25.02. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a fifty day moving average price of $16.07 and a 200-day moving average price of $17.44.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.36). The company had revenue of $209.97 million for the quarter, compared to the consensus estimate of $203.68 million. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. During the same quarter in the previous year, the company posted $0.38 EPS. Equities research analysts anticipate that Bandwidth Inc. will post 0.22 EPS for the current year.

Bandwidth 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.