Bandwidth Inc. (NASDAQ:BAND) Insider Sells $10,237.50 in Stock

Bandwidth Inc. (NASDAQ:BAND) insider Devin M. Krupka sold 546 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $18.75, for a total transaction of $10,237.50. Following the transaction, the insider now directly owns 9,707 shares in the company, valued at $182,006.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Bandwidth Stock Up 1.0 %

Shares of BAND opened at $18.05 on Thursday. The stock has a market cap of $474.17 million, a price-to-earnings ratio of -17.19 and a beta of 1.51. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 1.41. Bandwidth Inc. has a 12 month low of $9.34 and a 12 month high of $21.68. The company has a 50-day moving average price of $16.07 and a two-hundred day moving average price of $13.47.

Bandwidth (NASDAQ:BAND) last posted 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 return on equity of 3.10% and a negative net margin of 2.72%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 EPS. Equities analysts predict that Bandwidth Inc. will post 0.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on BAND shares. KeyCorp increased their target price on shares of Bandwidth from $16.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Canaccord Genuity Group upped their price target on shares of Bandwidth from $36.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, Barclays upped their price target on shares of Bandwidth from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Bandwidth presently has an average rating of “Moderate Buy” and an average target price of $19.71.

Institutional Trading of Bandwidth

Hedge funds have recently modified their holdings of the company. Quarry LP increased its holdings in shares of Bandwidth by 310.6% during the first quarter. Quarry LP now owns 2,008 shares of the company’s stock worth $31,000 after buying an additional 1,519 shares in the last quarter. DHJJ Financial Advisors Ltd. acquired a new stake in shares of Bandwidth in the third quarter valued at approximately $34,000. Tower Research Capital LLC TRC increased its holdings in shares of Bandwidth by 36.8% in the third quarter. Tower Research Capital LLC TRC now owns 2,946 shares of the company’s stock valued at $36,000 after purchasing an additional 792 shares in the last quarter. Point72 Middle East FZE acquired a new stake in shares of Bandwidth in the fourth quarter valued at approximately $51,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Bandwidth in the first quarter valued at approximately $58,000. Institutional investors and hedge funds 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.