Insider Selling: Bandwidth Inc. (NASDAQ:BAND) Insider Sells 3,500 Shares of Stock

Bandwidth Inc. (NASDAQ:BAND) insider Kade Ross sold 3,500 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $16.92, for a total value of $59,220.00. Following the completion of the transaction, the insider now owns 23,322 shares of the company’s stock, valued at $394,608.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Kade Ross also recently made the following trade(s):

• On Tuesday, May 14th, Kade Ross sold 68 shares of Bandwidth stock. The shares were sold at an average price of $22.15, for a total value of $1,506.20.

Bandwidth Trading Up 2.1 %

Shares of BAND opened at $16.88 on Thursday. Bandwidth Inc. has a 12 month low of $9.34 and a 12 month high of $25.02. The stock’s 50-day moving average is $19.21 and its two-hundred day moving average is $17.03. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.36 and a quick ratio of 2.36. The stock has a market cap of $455.93 million, a PE ratio of -15.07 and a beta of 1.48.

Bandwidth (NASDAQ:BAND) last announced its earnings results on Tuesday, May 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.08). The company had revenue of $171.03 million for the quarter, compared to analysts’ expectations of $165.10 million. Bandwidth had a negative net margin of 4.60% and a negative return on equity of 2.49%. Equities analysts forecast that Bandwidth Inc. will post 0.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BAND shares. Canaccord Genuity Group raised their target price on shares of Bandwidth from $38.00 to $40.00 and gave the stock a “buy” rating in a research 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. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a report on Friday, May 10th. KeyCorp increased their target price on Bandwidth from $21.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Finally, JMP Securities boosted their price target on Bandwidth from $32.00 to $36.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $25.63.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BAND. Bayesian Capital Management LP acquired a new stake in Bandwidth during the 1st quarter valued at $187,000. Price T Rowe Associates Inc. MD grew its stake in shares of Bandwidth by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,713 shares of the company’s stock valued at $269,000 after acquiring an additional 1,334 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Bandwidth during the first quarter valued at about $235,000. Ameritas Investment Partners Inc. increased its position in shares of Bandwidth by 31.6% during the first quarter. Ameritas Investment Partners Inc. now owns 2,355 shares of the company’s stock worth $43,000 after acquiring an additional 565 shares during the last quarter. Finally, Resurgent Financial Advisors LLC lifted its stake in shares of Bandwidth by 4.6% in the first quarter. Resurgent Financial Advisors LLC now owns 11,840 shares of the company’s stock worth $216,000 after acquiring an additional 520 shares in the last quarter. 68.53% of the stock is owned by institutional investors and hedge funds.

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.