Bandwidth (NASDAQ:BAND) CFO Daryl Raiford Sells 16,100 Shares

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 16,100 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $15.19, for a total value of $244,559.00. Following the completion of the transaction, the chief financial officer directly owned 36,645 shares in the company, valued at approximately $556,637.55. This trade represents a 30.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Bandwidth Stock Performance

Shares of BAND stock opened at $14.93 on Tuesday. The firm has a 50 day moving average of $14.24 and a 200-day moving average of $15.05. The company has a market cap of $468.65 million, a price-to-earnings ratio of -34.72 and a beta of 2.14. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.62. Bandwidth Inc. has a 52 week low of $11.33 and a 52 week high of $18.63.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. B. Riley Financial began coverage on shares of Bandwidth in a research note on Friday, January 23rd. They issued a “buy” rating and a $20.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Bandwidth in a research report on Wednesday, January 21st. Finally, Wall Street Zen downgraded Bandwidth from a “buy” rating to a “hold” rating in a research note on Sunday, December 14th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.60.

Institutional Trading of Bandwidth

Several hedge funds have recently bought and sold shares of BAND. Tower Research Capital LLC TRC increased its stake in Bandwidth by 183.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,776 shares of the company’s stock valued at $60,000 after purchasing an additional 2,445 shares in the last quarter. State of Wyoming bought a new position in shares of Bandwidth in the third quarter valued at $71,000. Raymond James Financial Inc. bought a new position in shares of Bandwidth in the second quarter valued at $85,000. Harbor Capital Advisors Inc. grew its holdings in shares of Bandwidth by 30.3% during the third quarter. Harbor Capital Advisors Inc. now owns 7,509 shares of the company’s stock valued at $125,000 after buying an additional 1,748 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Bandwidth during the second quarter worth about $128,000. Institutional investors and hedge funds own 68.53% of the company’s stock.

About Bandwidth

Bandwidth Inc operates a cloud-based communications platform that provides voice, messaging and emergency services APIs for enterprises and developers. Through its proprietary network and software-as-a-service model, the company enables customers to integrate programmable voice calls, text messaging and 9-1-1 routing into their applications. Bandwidth’s solutions aim to reduce complexity and improve reliability in mission-critical communications, serving industries such as healthcare, financial services, on-demand mobility and customer engagement.

Founded in 1999 in Raleigh, North Carolina by co-founders David Morken and Henry Kaestner, Bandwidth initially focused on voice-over-IP infrastructure before evolving into a full communications API provider.