Insider Selling: Bandwidth Inc. (NASDAQ:BAND) CFO Sells 1,305 Shares of Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 1,305 shares of Bandwidth stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $17.39, for a total value of $22,693.95. Following the completion of the transaction, the chief financial officer now directly owns 96,522 shares in the company, valued at $1,678,517.58. This represents a 1.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 stock was sold at an average price of $21.26, for a total transaction of $220,870.14.
• On Monday, December 2nd, Daryl Raiford sold 4,371 shares of Bandwidth stock. The stock was sold at an average price of $20.70, for a total transaction of $90,479.70.

Bandwidth Price Performance

BAND opened at $16.41 on Wednesday. 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 Inc. has a 1 year low of $11.90 and a 1 year high of $25.02. The stock has a fifty day moving average price of $19.05 and a 200 day moving average price of $18.13. The stock has a market cap of $451.44 million, a price-to-earnings ratio of -17.65 and a beta of 1.52.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.32 by $0.11. The business had revenue of $193.90 million during the quarter, compared to analysts’ expectations of $182.05 million. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The firm’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.03 EPS. Analysts forecast that Bandwidth Inc. will post 0.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its holdings in Bandwidth by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,043,013 shares of the company’s stock worth $17,606,000 after purchasing an additional 62,201 shares in the last quarter. State Street Corp boosted its stake in shares of Bandwidth by 3.7% during the 3rd quarter. State Street Corp now owns 655,768 shares of the company’s stock worth $11,482,000 after acquiring an additional 23,352 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Bandwidth by 79.8% during the 2nd quarter. Acadian Asset Management LLC now owns 613,612 shares of the company’s stock valued at $10,353,000 after acquiring an additional 272,309 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Bandwidth by 9.3% in the 2nd quarter. Renaissance Technologies LLC now owns 604,200 shares of the company’s stock valued at $10,199,000 after acquiring an additional 51,542 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in Bandwidth by 411.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 597,933 shares of the company’s stock worth $10,093,000 after purchasing an additional 480,933 shares during the last quarter. Institutional investors own 68.53% of the company’s stock.

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.