Bandwidth Inc. (NASDAQ:BAND) CEO Sells $20,720.37 in Stock

Bandwidth Inc. (NASDAQ:BAND) CEO David A. Morken sold 1,221 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $16.97, for a total value of $20,720.37. Following the completion of the sale, the chief executive officer now owns 112,560 shares of the company’s stock, valued at $1,910,143.20. This trade represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Bandwidth Stock Performance

Shares of NASDAQ:BAND traded up $0.45 during trading hours on Monday, hitting $17.47. The stock had a trading volume of 221,689 shares, compared to its average volume of 270,030. The stock’s fifty day simple moving average is $19.10 and its 200 day simple moving average is $18.13. The firm has a market capitalization of $480.60 million, a price-to-earnings ratio of -18.78 and a beta of 1.52. 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 1-year low of $11.90 and a 1-year high of $25.02.

Bandwidth (NASDAQ:BAND) last announced its 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. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The firm had revenue of $193.90 million for the quarter, compared to the consensus estimate of $182.05 million. During the same quarter in the previous year, the business earned $0.03 EPS. The firm’s revenue for the quarter was up 27.6% on a year-over-year basis. Sell-side analysts anticipate that Bandwidth Inc. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Bandwidth

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC boosted its holdings in shares of Bandwidth by 143.9% in the second quarter. Hsbc Holdings PLC now owns 55,259 shares of the company’s stock valued at $929,000 after acquiring an additional 32,598 shares in the last quarter. FMR LLC boosted its stake in Bandwidth by 70.3% during the 3rd quarter. FMR LLC now owns 371,215 shares of the company’s stock valued at $6,500,000 after purchasing an additional 153,223 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Bandwidth during the 3rd quarter valued at $747,000. Charles Schwab Investment Management Inc. increased its position in shares of Bandwidth by 38.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 267,367 shares of the company’s stock valued at $4,682,000 after purchasing an additional 73,795 shares during the period. Finally, Geode Capital Management LLC raised 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 worth $9,960,000 after buying an additional 19,832 shares in the last quarter. Institutional investors own 68.53% of the company’s stock.

Bandwidth Company Profile

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.