Insider Selling: Bandwidth Inc. (NASDAQ:BAND) CFO Sells 24,253 Shares of Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 24,253 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $15.58, for a total value of $377,861.74. Following the transaction, the chief financial officer now owns 113,795 shares in the company, valued at approximately $1,772,926.10. This trade represents a 17.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Monday, January 6th, Daryl Raiford sold 1,305 shares of Bandwidth stock. The shares were sold at an average price of $17.39, for a total value of $22,693.95.

Bandwidth Stock Up 0.5 %

Shares of NASDAQ:BAND traded up $0.07 during trading on Tuesday, hitting $15.17. 441,933 shares of the company were exchanged, compared to its average volume of 282,968. The stock has a market cap of $417.33 million, a price-to-earnings ratio of -26.61 and a beta of 1.54. Bandwidth Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $25.02. The firm has a fifty day moving average price of $17.17 and a two-hundred day moving average price of $17.90. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.36). The company had revenue of $209.97 million for the quarter, compared to analyst estimates of $203.68 million. Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. During the same period last year, the firm earned $0.38 EPS. As a group, research analysts anticipate that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BAND. Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a report on Friday, February 21st. Morgan Stanley lifted their price objective on Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a report on Wednesday, December 18th. Barclays cut their price objective on Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, William Blair restated an “outperform” rating on shares of Bandwidth in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.33.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BAND. Los Angeles Capital Management LLC increased 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 acquiring an additional 740 shares during the last quarter. GSA Capital Partners LLP lifted its position in shares of Bandwidth by 32.0% during the 3rd quarter. GSA Capital Partners LLP now owns 69,986 shares of the company’s stock valued at $1,225,000 after acquiring an additional 16,968 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of Bandwidth by 27.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 75,575 shares of the company’s stock valued at $1,323,000 after acquiring an additional 16,450 shares during the period. Quest Partners LLC bought a new stake in shares of Bandwidth during the 3rd quarter valued at $118,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Bandwidth during the 3rd quarter valued at $74,000. 68.53% of the stock is owned by institutional investors and hedge funds.

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.