Bandwidth Inc. (NASDAQ:BAND) CEO David A. Morken Sells 15,410 Shares

Bandwidth Inc. (NASDAQ:BAND) CEO David A. Morken sold 15,410 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $21.26, for a total value of $327,616.60. Following the completion of the transaction, the chief executive officer now owns 101,821 shares of the company’s stock, valued at $2,164,714.46. The trade was a 13.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Bandwidth Price Performance

Shares of NASDAQ BAND opened at $20.29 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.29 and a quick ratio of 1.29. Bandwidth Inc. has a 1-year low of $11.01 and a 1-year high of $25.02. The company has a market capitalization of $558.18 million, a price-to-earnings ratio of -21.82 and a beta of 1.51. The business has a 50-day moving average of $18.71 and a 200-day moving average of $18.29.

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

Analysts Set New Price Targets

BAND has been the subject of a number of recent analyst reports. Robert W. Baird boosted their target price on shares of Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, November 1st. JMP Securities reaffirmed a “market outperform” rating and issued a $36.00 target price on shares of Bandwidth in a research report on Tuesday, August 27th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Bandwidth currently has an average rating of “Hold” and a consensus target price of $28.33.

Institutional Trading of Bandwidth

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Bandwidth by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 1,536,051 shares of the company’s stock valued at $28,048,000 after purchasing an additional 16,181 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Bandwidth by 10.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,713 shares of the company’s stock worth $269,000 after buying an additional 1,334 shares during the last quarter. Baillie Gifford & Co. raised its holdings in Bandwidth by 40.6% in the second quarter. Baillie Gifford & Co. now owns 30,412 shares of the company’s stock valued at $513,000 after acquiring an additional 8,789 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in Bandwidth by 50.0% in the second quarter. Panagora Asset Management Inc. now owns 139,592 shares of the company’s stock valued at $2,356,000 after acquiring an additional 46,547 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in Bandwidth during the 2nd quarter valued at $30,000. 68.53% of the stock is owned by hedge funds and other institutional investors.

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.