Bandwidth Inc. (NASDAQ:BAND) Director Buys $80,003.56 in Stock

Bandwidth Inc. (NASDAQ:BANDGet Free Report) Director Lukas M. Roush acquired 4,963 shares of the stock in a transaction on Friday, June 14th. The stock was bought at an average price of $16.12 per share, with a total value of $80,003.56. Following the transaction, the director now directly owns 43,167 shares in the company, valued at approximately $695,852.04. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Bandwidth Stock Up 1.8 %

Bandwidth stock opened at $15.47 on Friday. The company’s 50 day simple moving average is $19.43 and its 200 day simple moving average is $16.73. Bandwidth Inc. has a fifty-two week low of $9.34 and a fifty-two week high of $25.02. The firm has a market capitalization of $417.84 million, a price-to-earnings ratio of -13.81 and a beta of 1.49. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.36 and a quick ratio of 2.36.

Bandwidth (NASDAQ:BANDGet Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.08). Bandwidth had a negative return on equity of 2.49% and a negative net margin of 4.60%. The firm had revenue of $171.03 million for the quarter, compared to the consensus estimate of $165.10 million. As a group, sell-side analysts anticipate that Bandwidth Inc. will post 0.22 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BAND. G2 Investment Partners Management LLC bought a new position in Bandwidth in the fourth quarter valued at approximately $4,079,000. Hussman Strategic Advisors Inc. lifted its stake in Bandwidth by 366.7% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 147,000 shares of the company’s stock valued at $2,127,000 after buying an additional 115,500 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Bandwidth in the first quarter valued at approximately $1,143,000. B. Riley Asset Management LLC bought a new position in Bandwidth in the third quarter valued at approximately $682,000. Finally, Acadian Asset Management LLC lifted its stake in Bandwidth by 15.7% in the first quarter. Acadian Asset Management LLC now owns 341,303 shares of the company’s stock valued at $6,231,000 after buying an additional 46,342 shares in the last quarter. Institutional investors own 68.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BAND shares. KeyCorp raised their price objective on shares of Bandwidth from $21.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. JMP Securities lifted their price target on shares of Bandwidth from $32.00 to $36.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 8th. Canaccord Genuity Group lifted their price target on shares of Bandwidth from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Morgan Stanley cut shares of Bandwidth from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $18.00 to $15.00 in a research report on Friday, June 14th. Finally, Robert W. Baird lifted their price target on shares of Bandwidth from $21.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $25.63.

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Bandwidth Company Profile

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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.

Further Reading

Insider Buying and Selling by Quarter for Bandwidth (NASDAQ:BAND)

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