Insider Selling: Bandwidth Inc. (NASDAQ:BAND) CFO Sells 1,305 Shares of Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 1,305 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $17.39, for a total transaction of $22,693.95. Following the transaction, the chief financial officer now owns 96,522 shares of the company’s stock, valued at approximately $1,678,517.58. This trade represents a 1.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Daryl Raiford also recently made the following trade(s):

• On Friday, November 29th, Daryl Raiford sold 10,389 shares of Bandwidth stock. The stock was sold at an average price of $21.26, for a total value of $220,870.14.
• On Monday, December 2nd, Daryl Raiford sold 4,371 shares of Bandwidth stock. The shares were sold at an average price of $20.70, for a total value of $90,479.70.

Bandwidth Trading Up 2.6 %

Shares of BAND stock traded up $0.45 on Monday, hitting $17.47. 221,689 shares of the stock traded hands, compared to its average volume of 270,030. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.29 and a current ratio of 1.29. Bandwidth Inc. has a twelve month low of $11.90 and a twelve month high of $25.02. The firm’s 50-day moving average price is $19.10 and its two-hundred day moving average price is $18.13. The stock has a market capitalization of $480.60 million, a PE ratio of -18.78 and a beta of 1.52.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.11. The business had revenue of $193.90 million during the quarter, compared to analysts’ expectations of $182.05 million. Bandwidth had a negative net margin of 2.23% and a negative return on equity of 0.89%. The business’s revenue for the quarter was up 27.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 EPS. As a group, analysts anticipate that Bandwidth Inc. will post 0.08 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Morgan Stanley increased their price objective on Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a research note on Wednesday, December 18th. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. Finally, Robert W. Baird upped their price objective on shares of Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $28.83.

Institutional Investors Weigh In On Bandwidth

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BAND. Los Angeles Capital Management LLC grew its holdings in shares of Bandwidth by 3.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 21,221 shares of the company’s stock worth $372,000 after purchasing an additional 740 shares during the period. nVerses Capital LLC lifted its position in Bandwidth by 80.0% in the third quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $32,000 after buying an additional 800 shares during the last quarter. Quarry LP increased its position in shares of Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company’s stock valued at $36,000 after acquiring an additional 1,245 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Bandwidth by 2.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 50,374 shares of the company’s stock valued at $850,000 after acquiring an additional 1,342 shares during the last quarter. Finally, Redwood Wealth Management Group LLC purchased a new stake in shares of Bandwidth in the 2nd quarter valued at approximately $35,000. Institutional investors and hedge funds own 68.53% of the company’s stock.

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.