Bandwidth Inc. (NASDAQ:BAND) Shares Acquired by Palogic Value Management L.P.

Palogic Value Management L.P. boosted its holdings in Bandwidth Inc. (NASDAQ:BAND) by 17.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 300,000 shares of the company’s stock after purchasing an additional 43,675 shares during the quarter. Bandwidth accounts for about 1.9% of Palogic Value Management L.P.’s portfolio, making the stock its 8th largest holding. Palogic Value Management L.P. owned approximately 1.17% of Bandwidth worth $4,341,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. G2 Investment Partners Management LLC bought a new position in Bandwidth in the 4th quarter valued at about $4,079,000. Hussman Strategic Advisors Inc. increased its holdings in Bandwidth by 366.7% in the 4th quarter. Hussman Strategic Advisors Inc. now owns 147,000 shares of the company’s stock valued at $2,127,000 after buying an additional 115,500 shares during the period. B. Riley Asset Management LLC bought a new position in Bandwidth in the 3rd quarter valued at about $682,000. Vanguard Group Inc. increased its holdings in Bandwidth by 3.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,480,343 shares of the company’s stock valued at $16,683,000 after buying an additional 43,411 shares during the period. Finally, Campbell & CO Investment Adviser LLC increased its holdings in Bandwidth by 111.9% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 72,880 shares of the company’s stock valued at $1,055,000 after buying an additional 38,485 shares during the period. Institutional investors and hedge funds own 68.53% of the company’s stock.

Insider Transactions at Bandwidth

In related news, COO Anthony Bartolo sold 7,798 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $18.75, for a total transaction of $146,212.50. Following the transaction, the chief operating officer now owns 76,469 shares in the company, valued at approximately $1,433,793.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Bandwidth news, insider Devin M. Krupka sold 2,500 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $21.61, for a total transaction of $54,025.00. Following the completion of the sale, the insider now owns 7,262 shares in the company, valued at approximately $156,931.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Anthony Bartolo sold 7,798 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $18.75, for a total transaction of $146,212.50. Following the sale, the chief operating officer now owns 76,469 shares of the company’s stock, valued at approximately $1,433,793.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,073 shares of company stock worth $722,990. Company insiders own 6.20% of the company’s stock.

Bandwidth Trading Down 5.1 %

BAND traded down $1.00 during trading on Thursday, reaching $18.50. 336,577 shares of the company’s stock were exchanged, compared to its average volume of 323,755. Bandwidth Inc. has a one year low of $9.34 and a one year high of $25.02. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $499.65 million, a PE ratio of -16.52 and a beta of 1.49. The firm has a fifty day moving average price of $19.63 and a two-hundred day moving average price of $16.57.

Bandwidth (NASDAQ:BAND) last posted its earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). Bandwidth had a negative return on equity of 2.49% and a negative net margin of 4.60%. As a group, equities research analysts forecast that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. JMP Securities raised their target price on shares of Bandwidth from $32.00 to $36.00 and gave the company a “market outperform” rating in a report on Wednesday, May 8th. Canaccord Genuity Group lifted their price target on shares of Bandwidth from $38.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. KeyCorp lifted their price target on shares of Bandwidth from $21.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Robert W. Baird lifted their price target on shares of Bandwidth from $21.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a report on Friday, May 10th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $25.38.

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.