15,383 Shares in Bandwidth Inc. (NASDAQ:BAND) Bought by EntryPoint Capital LLC

EntryPoint Capital LLC bought a new stake in shares of Bandwidth Inc. (NASDAQ:BAND) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,383 shares of the company’s stock, valued at approximately $262,000. EntryPoint Capital LLC owned about 0.06% of Bandwidth at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Bandwidth by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 1,769,027 shares of the company’s stock valued at $30,109,000 after purchasing an additional 73,623 shares during the period. State Street Corp increased its stake in Bandwidth by 3.7% during the third quarter. State Street Corp now owns 655,768 shares of the company’s stock worth $11,482,000 after acquiring an additional 23,352 shares during the last quarter. Geode Capital Management LLC raised its position in 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 during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Bandwidth by 61.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 524,586 shares of the company’s stock valued at $8,928,000 after purchasing an additional 200,387 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Bandwidth by 70.3% during the 3rd quarter. FMR LLC now owns 371,215 shares of the company’s stock worth $6,500,000 after purchasing an additional 153,223 shares during the period. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Bandwidth Price Performance

Bandwidth stock opened at $13.37 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.90. Bandwidth Inc. has a 52-week low of $13.31 and a 52-week high of $25.02. The firm has a market cap of $382.70 million, a PE ratio of -23.46 and a beta of 1.57. The company’s 50 day moving average is $16.49 and its two-hundred day moving average is $17.60.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $203.68 million. During the same quarter in the previous year, the business posted $0.38 earnings per share. On average, research analysts expect that Bandwidth Inc. will post 0.22 EPS for the current fiscal year.

Insider Activity

In related news, CEO David A. Morken sold 2,777 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $17.39, for a total value of $48,292.03. Following the sale, the chief executive officer now owns 109,783 shares of the company’s stock, valued at $1,909,126.37. This trade represents a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Daryl Raiford sold 24,253 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $15.58, for a total transaction of $377,861.74. Following the transaction, the chief financial officer now owns 113,795 shares of the company’s stock, valued at $1,772,926.10. This trade represents a 17.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,510 shares of company stock worth $1,109,806. 6.20% of the stock is currently owned by company 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.