Bandwidth Inc. (NASDAQ:BAND) Shares Purchased by Trexquant Investment LP

Trexquant Investment LP boosted its position in shares of Bandwidth Inc. (NASDAQ:BAND) by 317.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 64,538 shares of the company’s stock after acquiring an additional 49,068 shares during the quarter. Trexquant Investment LP owned about 0.23% of Bandwidth worth $1,098,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP lifted its position in Bandwidth by 157.6% during the 3rd quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after acquiring an additional 1,245 shares during the period. New Age Alpha Advisors LLC acquired a new stake in Bandwidth during the 4th quarter worth about $50,000. SBI Securities Co. Ltd. acquired a new stake in Bandwidth during the 4th quarter worth about $69,000. one8zero8 LLC acquired a new stake in Bandwidth during the 4th quarter worth about $170,000. Finally, Centiva Capital LP acquired a new stake in Bandwidth during the 3rd quarter worth about $191,000. Institutional investors and hedge funds own 68.53% of the company’s stock.

Bandwidth Price Performance

Shares of Bandwidth stock opened at $12.36 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.90. Bandwidth Inc. has a twelve month low of $11.47 and a twelve month high of $25.02. The business has a 50-day moving average price of $15.51 and a 200 day moving average price of $17.26. The firm has a market cap of $353.79 million, a PE ratio of -21.68 and a beta of 1.89.

Bandwidth (NASDAQ:BAND) last announced 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). 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 analysts’ expectations of $203.68 million. During the same quarter in the prior year, the firm earned $0.38 EPS. Sell-side analysts predict that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Activity at Bandwidth

In related news, insider Devin M. Krupka sold 3,770 shares of Bandwidth stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $15.70, for a total value of $59,189.00. Following the sale, the insider now directly owns 19,188 shares in the company, valued at approximately $301,251.60. The trade was a 16.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Richard Brandon Asbill sold 5,629 shares of Bandwidth stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $15.70, for a total value of $88,375.30. Following the completion of the sale, the general counsel now owns 57,475 shares in the company, valued at approximately $902,357.50. The trade was a 8.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,220 shares of company stock worth $1,000,954 in the last 90 days. Corporate insiders own 6.20% of the company’s stock.

Analyst Ratings Changes

BAND has been the subject of a number of research reports. Barclays lowered their price target on Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a research note on Friday, February 21st. William Blair reiterated an “outperform” rating on shares of Bandwidth in a research note on Friday, February 21st. Finally, Morgan Stanley lifted 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.33.

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.