David A. Morken Sells 13,653 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) CEO David A. Morken sold 13,653 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $15.70, for a total value of $214,352.10. Following the transaction, the chief executive officer now owns 142,439 shares in the company, valued at $2,236,292.30. This trade represents a 8.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Bandwidth Stock Up 0.6 %

BAND stock opened at $15.26 on Thursday. Bandwidth Inc. has a twelve month low of $13.51 and a twelve month high of $25.02. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.90. The firm has a market cap of $436.80 million, a PE ratio of -26.77 and a beta of 1.57. The business has a 50 day moving average of $17.12 and a 200 day moving average of $17.89.

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

Institutional Trading of Bandwidth

Institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd purchased a new stake in Bandwidth during the 4th quarter valued at $25,000. Quarry LP boosted its stake in Bandwidth by 157.6% during the 3rd quarter. Quarry LP now owns 2,035 shares of the company’s stock valued at $36,000 after purchasing an additional 1,245 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in Bandwidth during the 4th quarter valued at $50,000. SBI Securities Co. Ltd. purchased a new stake in Bandwidth during the 4th quarter valued at $69,000. Finally, Meeder Asset Management Inc. purchased a new stake in Bandwidth during the 3rd quarter valued at $74,000. 68.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BAND has been the subject of several research reports. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research report on Friday, February 21st. William Blair reissued an “outperform” rating on shares of Bandwidth in a research report on Friday, February 21st. Barclays decreased their target price on Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Finally, Morgan Stanley increased their target price on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th. One investment 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’s stock. According to MarketBeat.com, Bandwidth has a consensus rating of “Moderate Buy” and an average target price of $28.33.

About Bandwidth

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.