Bandwidth Inc. (NASDAQ:BAND) COO Devesh Agarwal Sells 6,538 Shares

Bandwidth Inc. (NASDAQ:BAND) COO Devesh Agarwal sold 6,538 shares of Bandwidth stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $15.70, for a total value of $102,646.60. Following the transaction, the chief operating officer now owns 53,413 shares in the company, valued at $838,584.10. This trade represents a 10.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Bandwidth Stock Performance

Shares of BAND traded up $0.07 on Tuesday, reaching $15.17. 441,933 shares of the company’s stock traded hands, compared to its average volume of 282,968. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90. The stock has a market cap of $417.33 million, a PE ratio of -26.61 and a beta of 1.54. The stock’s 50 day simple moving average is $17.17 and its two-hundred day simple moving average is $17.90. Bandwidth Inc. has a 52-week low of $13.51 and a 52-week high of $25.02.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.36). The business had revenue of $209.97 million for the quarter, compared to analysts’ expectations of $203.68 million. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. During the same period in the previous year, the business posted $0.38 earnings per share. On average, analysts forecast that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a report on Wednesday, December 18th. William Blair reissued an “outperform” rating on shares of Bandwidth in a research report on Friday, February 21st. Barclays dropped their target price on Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Bandwidth currently has a consensus rating of “Moderate Buy” and an average price target of $28.33.

Institutional Trading of Bandwidth

Large investors have recently bought and sold shares of the company. FMR LLC increased its position in Bandwidth by 70.3% in the third quarter. FMR LLC now owns 371,215 shares of the company’s stock worth $6,500,000 after buying an additional 153,223 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Bandwidth in the third quarter valued at $747,000. Charles Schwab Investment Management Inc. grew its position in shares of Bandwidth by 38.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 267,367 shares of the company’s stock valued at $4,682,000 after purchasing an additional 73,795 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Bandwidth by 3.6% in the third quarter. Geode Capital Management LLC now owns 568,667 shares of the company’s stock valued at $9,960,000 after purchasing an additional 19,832 shares in the last quarter. Finally, State Street Corp grew its position in shares of Bandwidth by 3.7% in the third quarter. State Street Corp now owns 655,768 shares of the company’s stock valued at $11,482,000 after purchasing an additional 23,352 shares in the last quarter. 68.53% of the stock is owned by hedge funds and other institutional investors.

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.