Charles Schwab Investment Management Inc. Grows Stock Holdings in Bandwidth Inc. (NASDAQ:BAND)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Bandwidth Inc. (NASDAQ:BAND) by 12.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 300,076 shares of the company’s stock after acquiring an additional 32,709 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Bandwidth were worth $5,107,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC boosted its stake in Bandwidth by 70.3% in the 3rd quarter. FMR LLC now owns 371,215 shares of the company’s stock worth $6,500,000 after buying an additional 153,223 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Bandwidth during the third quarter worth approximately $747,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Bandwidth during the 3rd quarter valued at $453,000. State Street Corp increased its holdings 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 buying an additional 23,352 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Bandwidth by 40.9% in the 3rd quarter. Franklin Resources Inc. now owns 77,481 shares of the company’s stock worth $1,325,000 after buying an additional 22,505 shares during the period. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Analysts Set New Price Targets

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

Bandwidth Stock Down 1.4 %

Shares of NASDAQ:BAND opened at $15.04 on Wednesday. The company has a market capitalization of $430.50 million, a price-to-earnings ratio of -26.39 and a beta of 1.57. The company has a 50 day moving average of $16.59 and a two-hundred day moving average of $17.67. Bandwidth Inc. has a 52-week low of $13.51 and a 52-week high of $25.02. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.90.

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

Insider Transactions at Bandwidth

In other news, General Counsel Richard Brandon Asbill sold 5,629 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $15.70, for a total transaction of $88,375.30. Following the completion of the sale, the general counsel now owns 57,475 shares of the company’s stock, valued at approximately $902,357.50. This trade represents a 8.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David A. Morken sold 2,777 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $17.39, for a total transaction of $48,292.03. Following the completion of the sale, the chief executive officer now directly owns 109,783 shares in the company, valued at $1,909,126.37. This represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,510 shares of company stock valued at $1,109,806. 6.20% of the stock is currently owned by insiders.

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.