Insider Selling: Bandwidth (NASDAQ:BAND) Director Sells 4,000 Shares of Company Stock

Bandwidth Inc. (NASDAQ:BAND) Director Douglas Suriano sold 4,000 shares of the business’s stock in a transaction dated Thursday, November 12th. The stock was sold at an average price of $46.59, for a total value of $186,360.00. Following the transaction, the director owned 41,410 shares of the company’s stock, valued at approximately $1,929,291.90. The trade was a 8.81% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Bandwidth Price Performance

NASDAQ BAND traded down $2.61 during trading on Friday, reaching $43.68. The company’s stock had a trading volume of 324,746 shares, compared to its average volume of 880,254. The firm has a fifty day moving average of $50.60 and a 200 day moving average of $42.07. Bandwidth Inc. has a one year low of $12.50 and a one year high of $79.08. The stock has a market capitalization of $1.41 billion, a PE ratio of -363.97, a P/E/G ratio of 3.96 and a beta of 3.17. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.92 and a quick ratio of 1.92.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings results on Thursday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. Bandwidth had a return on equity of 3.70% and a net margin of 1.01%. The firm had revenue of $234.02 million during the quarter, compared to the consensus estimate of $233.15 million. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. Analysts expect that Bandwidth Inc. will post 0.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BAND shares. Weiss Ratings raised shares of Bandwidth from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, November 4th. Piper Sandler increased their target price on Bandwidth from $38.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, August 19th. Citigroup restated a “market outperform” rating on shares of Bandwidth in a research report on Friday, October 30th. Needham & Company LLC reaffirmed a “buy” rating on shares of Bandwidth in a research note on Wednesday. Finally, Citizens Jmp upped their price objective on Bandwidth from $70.00 to $86.00 and gave the stock a “market outperform” rating in a report on Monday, July 20th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Bandwidth has an average rating of “Hold” and a consensus target price of $66.67.

Hedge Funds Weigh In On Bandwidth

Several institutional investors and hedge funds have recently made changes to their positions in BAND. Wellington Management Group LLP raised its position in Bandwidth by 138.9% in the 2nd quarter. Wellington Management Group LLP now owns 911,893 shares of the company’s stock worth $57,723,000 after purchasing an additional 530,182 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Bandwidth by 299.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 688,430 shares of the company’s stock valued at $12,268,000 after buying an additional 516,117 shares during the period. Bastion Asset Management Inc. bought a new position in shares of Bandwidth during the first quarter valued at about $6,592,000. Voya Investment Management LLC grew its stake in shares of Bandwidth by 1,851.5% during the third quarter. Voya Investment Management LLC now owns 362,133 shares of the company’s stock valued at $21,985,000 after buying an additional 343,576 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Bandwidth during the second quarter valued at about $6,711,000. Institutional investors own 68.53% of the company’s stock.

Bandwidth Company Profile

Bandwidth is a cloud communications company that provides software and network services for businesses, communications providers and software developers. Its platform enables organizations to add voice calling, messaging and emergency calling capabilities to their applications and services. The company offers communications APIs, business voice and messaging solutions, and services for managing phone numbers and emergency communications. Bandwidth’s network infrastructure supports these offerings and helps customers connect communications features with their existing systems.