Bandwidth Inc. (NASDAQ:BAND) COO Anthony Bartolo Sells 7,798 Shares

Bandwidth Inc. (NASDAQ:BAND) COO Anthony Bartolo sold 7,798 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $18.75, for a total value of $146,212.50. Following the transaction, the chief operating officer now directly owns 76,469 shares of the company’s stock, valued at $1,433,793.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Anthony Bartolo also recently made the following trade(s):

• On Thursday, February 29th, Anthony Bartolo sold 990 shares of Bandwidth stock. The shares were sold at an average price of $19.75, for a total value of $19,552.50.

Bandwidth Trading Up 1.0 %

Shares of BAND opened at $18.05 on Thursday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 2.06 and a current ratio of 2.06. Bandwidth Inc. has a 52-week low of $9.34 and a 52-week high of $21.68. The firm has a market cap of $474.17 million, a price-to-earnings ratio of -17.19 and a beta of 1.51. The business’s fifty day moving average is $16.07 and its 200-day moving average is $13.47.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). The firm had revenue of $165.00 million for the quarter, compared to analyst estimates of $154.17 million. Bandwidth had a negative net margin of 2.72% and a negative return on equity of 3.10%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same period last year, the business earned $0.04 EPS. Equities analysts anticipate that Bandwidth Inc. will post 0.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Barclays increased their target price on Bandwidth from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. KeyCorp raised their price objective on Bandwidth from $16.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Finally, Canaccord Genuity Group raised their price objective on Bandwidth from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Bandwidth presently has an average rating of “Moderate Buy” and an average price target of $19.71.

Institutional Trading of Bandwidth

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BAND. Quarry LP increased its holdings in Bandwidth by 310.6% during the 1st quarter. Quarry LP now owns 2,008 shares of the company’s stock worth $31,000 after purchasing an additional 1,519 shares in the last quarter. DHJJ Financial Advisors Ltd. bought a new stake in Bandwidth during the 3rd quarter worth approximately $34,000. Tower Research Capital LLC TRC increased its holdings in Bandwidth by 36.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,946 shares of the company’s stock worth $36,000 after purchasing an additional 792 shares in the last quarter. Point72 Middle East FZE bought a new stake in Bandwidth during the 4th quarter worth approximately $51,000. Finally, Acadian Asset Management LLC bought a new stake in Bandwidth during the 1st quarter worth approximately $58,000. 68.53% of the stock is owned by institutional investors.

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.