AlphaQuest LLC Has $301,000 Stock Position in Bandwidth Inc. (NASDAQ:BAND)

AlphaQuest LLC lifted its stake in Bandwidth Inc. (NASDAQ:BAND) by 162.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,684 shares of the company’s stock after purchasing an additional 10,936 shares during the period. AlphaQuest LLC owned 0.06% of Bandwidth worth $301,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Quarry LP grew its position in shares of Bandwidth by 157.6% during the 3rd quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after buying an additional 1,245 shares during the period. SBI Securities Co. Ltd. bought a new position in Bandwidth during the 4th quarter worth approximately $69,000. Meeder Asset Management Inc. bought a new position in Bandwidth during the 3rd quarter worth approximately $74,000. Quest Partners LLC acquired a new position in Bandwidth during the third quarter valued at approximately $118,000. Finally, Centiva Capital LP bought a new stake in Bandwidth in the third quarter valued at approximately $191,000. 68.53% of the stock is owned by institutional investors and hedge funds.

Bandwidth Stock Up 2.8 %

Shares of Bandwidth stock opened at $14.85 on Friday. The firm has a market cap of $425.07 million, a PE ratio of -26.05 and a beta of 1.57. The business’s 50 day simple moving average is $16.80 and its 200 day simple moving average is $17.77. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.34 and a current ratio of 1.34. Bandwidth Inc. has a 52-week low of $13.51 and a 52-week high of $25.02.

Bandwidth (NASDAQ:BAND) last posted 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 negative net margin of 0.87% and a positive return on equity of 0.53%. The business had revenue of $209.97 million during the quarter, compared to analyst estimates of $203.68 million. During the same quarter last year, the business earned $0.38 earnings per share. On average, analysts predict that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, CFO Daryl Raiford sold 24,253 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $15.58, for a total value of $377,861.74. Following the completion of the sale, the chief financial officer now owns 113,795 shares of the company’s stock, valued at approximately $1,772,926.10. This represents a 17.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Richard Brandon Asbill sold 9,878 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $15.24, for a total transaction of $150,540.72. Following the transaction, the general counsel now owns 42,475 shares in the company, valued at approximately $647,319. The trade was a 18.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,510 shares of company stock valued at $1,109,806 in the last three months. 6.20% of the stock is currently owned by corporate insiders.

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.