Bandwidth Inc. (NASDAQ:BAND) CEO Sells $48,292.03 in Stock

Bandwidth Inc. (NASDAQ:BAND) CEO David A. Morken sold 2,777 shares of Bandwidth stock in a transaction on Monday, January 6th. The stock was sold at an average price of $17.39, for a total transaction of $48,292.03. Following the completion of the transaction, the chief executive officer now directly owns 109,783 shares of the company’s stock, valued at approximately $1,909,126.37. This represents a 2.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Bandwidth Trading Up 0.1 %

Shares of NASDAQ:BAND opened at $16.43 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.83. The company’s 50-day moving average price is $19.05 and its 200 day moving average price is $18.13. The company has a market cap of $451.99 million, a PE ratio of -17.67 and a beta of 1.52. Bandwidth Inc. has a fifty-two week low of $11.90 and a fifty-two week high of $25.02.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on BAND. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a report on Friday, November 1st. Robert W. Baird raised their target price on shares of Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Morgan Stanley upped their target price on Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.83.

Institutional Trading of Bandwidth

Hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC increased its holdings in shares of Bandwidth by 143.9% during the second quarter. Hsbc Holdings PLC now owns 55,259 shares of the company’s stock valued at $929,000 after purchasing an additional 32,598 shares during the period. FMR LLC grew its position in Bandwidth by 70.3% in the 3rd quarter. FMR LLC now owns 371,215 shares of the company’s stock valued at $6,500,000 after buying an additional 153,223 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Bandwidth during the 3rd quarter valued at about $747,000. Charles Schwab Investment Management Inc. raised its position in shares of Bandwidth by 38.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 267,367 shares of the company’s stock worth $4,682,000 after buying an additional 73,795 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Bandwidth by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 568,667 shares of the company’s stock worth $9,960,000 after acquiring an additional 19,832 shares during the period. Institutional investors own 68.53% of the company’s stock.

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.