Bandwidth Inc. (NASDAQ:BAND) Shares Bought by GSA Capital Partners LLP

GSA Capital Partners LLP boosted its holdings in shares of Bandwidth Inc. (NASDAQ:BAND) by 32.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,986 shares of the company’s stock after buying an additional 16,968 shares during the period. GSA Capital Partners LLP’s holdings in Bandwidth were worth $1,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in BAND. Innealta Capital LLC acquired a new position in Bandwidth during the 2nd quarter valued at about $30,000. nVerses Capital LLC increased its position in Bandwidth by 80.0% during the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $32,000 after buying an additional 800 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new position in Bandwidth during the 2nd quarter valued at about $35,000. Ameritas Investment Partners Inc. increased its holdings in shares of Bandwidth by 31.6% in the first quarter. Ameritas Investment Partners Inc. now owns 2,355 shares of the company’s stock valued at $43,000 after purchasing an additional 565 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Bandwidth in the second quarter valued at about $57,000. 68.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BAND shares. Robert W. Baird increased their price objective on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a report on Friday, November 1st. Barclays cut their price objective on Bandwidth from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, JMP Securities reissued a “market outperform” rating and issued a $36.00 price objective on shares of Bandwidth in a report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $28.33.

Bandwidth Stock Down 2.4 %

Shares of BAND opened at $18.83 on Friday. Bandwidth Inc. has a 52 week low of $10.60 and a 52 week high of $25.02. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $518.01 million, a price-to-earnings ratio of -20.25 and a beta of 1.50. The stock’s 50-day moving average price is $17.87 and its 200-day moving average price is $18.38.

Bandwidth (NASDAQ:BAND) last issued its earnings results on Thursday, October 31st. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. The firm had revenue of $193.90 million for the quarter, compared to the consensus estimate of $182.05 million. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The company’s revenue was up 27.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 earnings per share. On average, sell-side analysts predict that Bandwidth Inc. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other Bandwidth news, CFO Daryl Raiford sold 4,350 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $16.97, for a total transaction of $73,819.50. Following the transaction, the chief financial officer now owns 71,546 shares in the company, valued at approximately $1,214,135.62. This represents a 5.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 8,630 shares of company stock worth $148,515. 6.20% of the stock is owned by corporate insiders.

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.