Devin M. Krupka Sells 3,770 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) insider Devin M. Krupka sold 3,770 shares of Bandwidth stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $15.70, for a total transaction of $59,189.00. Following the completion of the transaction, the insider now owns 19,188 shares of the company’s stock, valued at $301,251.60. This represents a 16.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Bandwidth Stock Up 0.6 %

BAND stock opened at $15.26 on Thursday. The business’s 50-day moving average is $17.12 and its two-hundred day moving average is $17.89. The company has a market cap of $436.80 million, a price-to-earnings ratio of -26.77 and a beta of 1.57. Bandwidth Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $25.02. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.34 and a current ratio of 1.34.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate 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 in the prior year, the firm posted $0.38 EPS. As a group, analysts forecast that Bandwidth Inc. will post 0.22 earnings per share for the current year.

Analyst Ratings Changes

BAND has been the topic of a number of research analyst reports. Morgan Stanley upped their target price on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th. Barclays lowered their price objective on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. William Blair reiterated an “outperform” rating on shares of Bandwidth in a research report on Friday, February 21st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.33.

Institutional Trading of Bandwidth

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd bought a new position in Bandwidth in the 4th quarter worth approximately $25,000. Quarry LP raised its position in shares of Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company’s stock valued at $36,000 after buying an additional 1,245 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Bandwidth in the fourth quarter worth $50,000. SBI Securities Co. Ltd. bought a new position in shares of Bandwidth during the fourth quarter worth $69,000. Finally, Meeder Asset Management Inc. purchased a new position in Bandwidth during the third quarter valued at $74,000. Institutional investors own 68.53% of the company’s stock.

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.