Insider Selling: Bandwidth Inc. (NASDAQ:BAND) CFO Sells 1,769 Shares of Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 1,769 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $22.22, for a total transaction of $39,307.18. Following the sale, the chief financial officer now owns 63,397 shares of the company’s stock, valued at $1,408,681.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Daryl Raiford also recently made the following trade(s):

• On Wednesday, June 5th, Daryl Raiford sold 7,600 shares of Bandwidth stock. The stock was sold at an average price of $20.80, for a total transaction of $158,080.00.
• On Friday, May 31st, Daryl Raiford sold 13,410 shares of Bandwidth stock. The stock was sold at an average price of $20.01, for a total transaction of $268,334.10.
• On Wednesday, May 29th, Daryl Raiford sold 805 shares of Bandwidth stock. The stock was sold at an average price of $20.40, for a total transaction of $16,422.00.

Bandwidth Stock Performance

NASDAQ:BAND traded up $0.16 during trading hours on Tuesday, reaching $21.77. The company had a trading volume of 392,744 shares, compared to its average volume of 335,195. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 1.41. Bandwidth Inc. has a 52 week low of $9.34 and a 52 week high of $25.02. The firm has a market cap of $588.01 million, a price-to-earnings ratio of -19.59 and a beta of 1.48. The firm’s 50 day moving average price is $18.93 and its 200-day moving average price is $17.50.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BAND. Vanguard Group Inc. boosted its stake in shares of Bandwidth by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,480,343 shares of the company’s stock worth $16,683,000 after acquiring an additional 43,411 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Bandwidth during the 4th quarter valued at $238,000. Parcion Private Wealth LLC lifted its stake in shares of Bandwidth by 1.0% during the 4th quarter. Parcion Private Wealth LLC now owns 216,428 shares of the company’s stock valued at $3,132,000 after buying an additional 2,153 shares in the last quarter. Hussman Strategic Advisors Inc. lifted its stake in shares of Bandwidth by 366.7% during 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 in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Bandwidth by 25.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 73,235 shares of the company’s stock valued at $1,060,000 after buying an additional 14,752 shares in the last quarter. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Canaccord Genuity Group raised their price objective on shares of Bandwidth from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. KeyCorp lifted their target price 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 target price 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 reiterated a “hold” rating on shares of Bandwidth in a report on Friday, May 10th. Finally, Barclays lifted their target price on shares of Bandwidth from $22.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $25.63.

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.