Insider Selling: Bandwidth Inc. (NASDAQ:BAND) COO Sells 6,538 Shares of Stock

Bandwidth Inc. (NASDAQ:BAND) COO Devesh Agarwal sold 6,538 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $15.70, for a total value of $102,646.60. Following the completion of the transaction, the chief operating officer now directly owns 53,413 shares in the company, valued at $838,584.10. The trade was a 10.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Bandwidth Stock Performance

NASDAQ:BAND opened at $15.26 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.34 and a quick ratio of 1.34. Bandwidth Inc. has a 1 year low of $13.51 and a 1 year high of $25.02. The stock’s 50 day simple moving average is $17.12 and its two-hundred day simple moving average is $17.89. The company has a market cap of $436.80 million, a price-to-earnings ratio of -26.77 and a beta of 1.57.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on BAND shares. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research report on Friday, February 21st. William Blair reaffirmed an “outperform” rating on shares of Bandwidth in a research report on Friday, February 21st. Barclays lowered their price target on Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, Morgan Stanley boosted their price target on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $28.33.

Institutional Trading of Bandwidth

A number of large investors have recently added to or reduced their stakes in BAND. Connor Clark & Lunn Investment Management Ltd. increased its stake in Bandwidth by 61.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 524,586 shares of the company’s stock worth $8,928,000 after acquiring an additional 200,387 shares during the last quarter. FMR LLC increased its position in shares of 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 during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Bandwidth by 88.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 285,559 shares of the company’s stock valued at $4,860,000 after purchasing an additional 133,715 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Bandwidth by 9.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company’s stock valued at $21,260,000 after purchasing an additional 112,269 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Bandwidth by 213.5% during the 4th quarter. Millennium Management LLC now owns 136,442 shares of the company’s stock valued at $2,322,000 after purchasing an additional 92,915 shares during 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.