Bandwidth (NASDAQ:BAND) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Bandwidth Inc. (NASDAQ:BAND) shares crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $41.59 and traded as high as $42.72. Bandwidth shares last traded at $41.86, with a volume of 759,015 shares changing hands.

Analyst Ratings Changes

A number of brokerages recently weighed in on BAND. Piper Sandler raised their price target on shares of Bandwidth from $38.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, August 19th. Citigroup reaffirmed a “market outperform” rating on shares of Bandwidth in a report on Friday, October 30th. Wall Street Zen raised Bandwidth from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Morgan Stanley increased their price objective on Bandwidth from $56.00 to $57.00 and gave the company an “equal weight” rating in a research report on Friday, October 30th. Finally, Bank of America initiated coverage on Bandwidth in a research report on Wednesday, September 16th. They issued a “neutral” rating and a $60.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Bandwidth currently has an average rating of “Hold” and an average price target of $66.67.

Bandwidth Stock Performance

The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.81. The stock has a market cap of $1.56 billion, a P/E ratio of 136.16, a PEG ratio of 3.59 and a beta of 3.17. The stock has a fifty day simple moving average of $50.62 and a 200-day simple moving average of $41.91.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The company had revenue of $234.02 million during the quarter, compared to analysts’ expectations of $233.15 million. Bandwidth had a return on equity of 3.70% and a net margin of 1.01%. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. Equities analysts expect that Bandwidth Inc. will post 0.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO David A. Morken sold 5,128 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $49.15, for a total value of $252,041.20. Following the completion of the transaction, the chief executive officer owned 6,702 shares of the company’s stock, valued at $329,403.30. The trade was a 43.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Daryl E. Raiford sold 4,673 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $49.15, for a total transaction of $229,677.95. Following the completion of the transaction, the chief financial officer directly owned 35,832 shares of the company’s stock, valued at $1,761,142.80. This trade represents a 11.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 25,050 shares of company stock valued at $1,228,342. 5.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its holdings in shares of Bandwidth by 138.9% in the second quarter. Wellington Management Group LLP now owns 911,893 shares of the company’s stock worth $57,723,000 after acquiring an additional 530,182 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Bandwidth by 299.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 688,430 shares of the company’s stock worth $12,268,000 after purchasing an additional 516,117 shares during the period. Bastion Asset Management Inc. bought a new position in shares of Bandwidth during the 1st quarter valued at about $6,592,000. Voya Investment Management LLC lifted its holdings in shares of Bandwidth by 1,851.5% during the 3rd quarter. Voya Investment Management LLC now owns 362,133 shares of the company’s stock valued at $21,985,000 after purchasing an additional 343,576 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Bandwidth during the 2nd quarter valued at about $6,711,000. 68.53% of the stock is currently owned by institutional investors.

Bandwidth Company Profile

Bandwidth is a cloud communications company that provides software and network services for businesses, communications providers and software developers. Its platform enables organizations to add voice calling, messaging and emergency calling capabilities to their applications and services. The company offers communications APIs, business voice and messaging solutions, and services for managing phone numbers and emergency communications. Bandwidth’s network infrastructure supports these offerings and helps customers connect communications features with their existing systems.