Bank of Montreal Can Has $2.72 Million Holdings in Bandwidth Inc. (NASDAQ:BAND)

Bank of Montreal Can raised its position in Bandwidth Inc. (NASDAQ:BAND) by 1.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 159,746 shares of the company’s stock after purchasing an additional 1,881 shares during the period. Bank of Montreal Can owned 0.58% of Bandwidth worth $2,719,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in Bandwidth by 12.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 300,076 shares of the company’s stock valued at $5,107,000 after buying an additional 32,709 shares during the period. Geode Capital Management LLC lifted its stake in shares of Bandwidth by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 568,667 shares of the company’s stock valued at $9,960,000 after purchasing an additional 19,832 shares during the period. State Street Corp lifted its stake in shares of Bandwidth by 3.7% in the 3rd quarter. State Street Corp now owns 655,768 shares of the company’s stock valued at $11,482,000 after purchasing an additional 23,352 shares during the period. Versor Investments LP boosted its position in shares of Bandwidth by 136.1% during the 4th quarter. Versor Investments LP now owns 27,757 shares of the company’s stock valued at $472,000 after purchasing an additional 16,000 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in Bandwidth during the fourth quarter worth approximately $384,000. 68.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Bandwidth news, insider Devin M. Krupka sold 3,770 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.70, for a total value of $59,189.00. Following the completion of the sale, the insider now directly owns 19,188 shares of the company’s stock, valued at $301,251.60. This trade represents a 16.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 in the company, valued at approximately $2,236,292.30. This trade represents a 8.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,220 shares of company stock valued at $1,000,954. Insiders own 6.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research note on Friday, February 21st. Barclays cut their target price on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Morgan Stanley decreased their price target on shares of Bandwidth from $18.00 to $11.00 and set an “underweight” rating for the company in a research note on Wednesday. Finally, William Blair reissued an “outperform” rating on shares of Bandwidth in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.17.

Bandwidth Price Performance

BAND stock opened at $12.14 on Thursday. The company has a market capitalization of $347.50 million, a P/E ratio of -21.30 and a beta of 1.89. Bandwidth Inc. has a 52-week low of $11.47 and a 52-week high of $25.02. The business has a 50-day simple moving average of $15.16 and a two-hundred day simple moving average of $17.16. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.34 and a current ratio of 1.34.

Bandwidth (NASDAQ:BAND) last announced its earnings results on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $203.68 million. During the same quarter in the prior year, the company earned $0.38 EPS. Research analysts expect that Bandwidth Inc. will post 0.22 EPS for the current fiscal year.

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.