Bandwidth (NASDAQ:BAND) CFO Sells $263,392.22 in Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 17,026 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $15.47, for a total transaction of $263,392.22. Following the transaction, the chief financial officer owned 52,745 shares of the company’s stock, valued at approximately $815,965.15. This represents a 24.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Bandwidth Trading Down 0.4%

Shares of BAND stock opened at $14.98 on Thursday. The stock’s fifty day moving average price is $14.25 and its two-hundred day moving average price is $15.05. The company has a market cap of $470.22 million, a PE ratio of -34.84 and a beta of 2.14. Bandwidth Inc. has a fifty-two week low of $11.33 and a fifty-two week high of $18.63. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.42.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BAND shares. B. Riley Financial initiated coverage on Bandwidth in a research report on Friday, January 23rd. They issued a “buy” rating and a $20.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Bandwidth in a report on Wednesday, January 21st. Finally, Wall Street Zen lowered shares of Bandwidth from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.60.

Institutional Investors Weigh In On Bandwidth

Several hedge funds have recently modified their holdings of the company. Savant Capital LLC bought a new stake in Bandwidth during the 2nd quarter worth $201,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Bandwidth by 41.4% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,563 shares of the company’s stock valued at $136,000 after purchasing an additional 2,507 shares during the last quarter. Geode Capital Management LLC raised its position in Bandwidth by 8.9% in the second quarter. Geode Capital Management LLC now owns 648,763 shares of the company’s stock valued at $10,318,000 after purchasing an additional 52,762 shares during the last quarter. Bailard Inc. acquired a new stake in shares of Bandwidth during the second quarter valued at about $275,000. Finally, Magnetar Financial LLC acquired a new stake in shares of Bandwidth during the second quarter valued at about $471,000. Institutional investors and hedge funds own 68.53% of the company’s stock.

Bandwidth Company Profile

Bandwidth Inc operates a cloud-based communications platform that provides voice, messaging and emergency services APIs for enterprises and developers. Through its proprietary network and software-as-a-service model, the company enables customers to integrate programmable voice calls, text messaging and 9-1-1 routing into their applications. Bandwidth’s solutions aim to reduce complexity and improve reliability in mission-critical communications, serving industries such as healthcare, financial services, on-demand mobility and customer engagement.

Founded in 1999 in Raleigh, North Carolina by co-founders David Morken and Henry Kaestner, Bandwidth initially focused on voice-over-IP infrastructure before evolving into a full communications API provider.