Bandwidth Inc. (NASDAQ:BAND) General Counsel Richard Brandon Asbill Sells 5,629 Shares

Bandwidth Inc. (NASDAQ:BAND) General Counsel Richard Brandon Asbill sold 5,629 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $15.70, for a total transaction of $88,375.30. Following the transaction, the general counsel now owns 57,475 shares in the company, valued at $902,357.50. The trade was a 8.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Richard Brandon Asbill also recently made the following trade(s):

• On Tuesday, January 21st, Richard Brandon Asbill sold 499 shares of Bandwidth stock. The stock was sold at an average price of $16.01, for a total transaction of $7,988.99.
• On Monday, January 6th, Richard Brandon Asbill sold 822 shares of Bandwidth stock. The shares were sold at an average price of $17.39, for a total value of $14,294.58.

Bandwidth Stock Up 0.5 %

Shares of BAND traded up $0.07 during trading hours on Tuesday, hitting $15.17. The company had a trading volume of 441,933 shares, compared to its average volume of 282,968. Bandwidth Inc. has a one year low of $13.51 and a one year high of $25.02. The company’s fifty day moving average price is $17.17 and its two-hundred day moving average price is $17.90. The company has a market capitalization of $417.33 million, a PE ratio of -26.61 and a beta of 1.54. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.02 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 firm had revenue of $209.97 million for the quarter, compared to analysts’ expectations of $203.68 million. During the same period in the previous year, the company posted $0.38 earnings per share. As a group, equities analysts forecast that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Trading of Bandwidth

Several hedge funds and other institutional investors have recently made changes to their positions in BAND. Covestor Ltd acquired a new position in Bandwidth during the 4th quarter valued at about $25,000. Quarry LP raised its position in shares of Bandwidth by 157.6% in 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 acquired a new stake in Bandwidth in the 4th quarter worth approximately $50,000. SBI Securities Co. Ltd. acquired a new stake in Bandwidth in the 4th quarter worth approximately $69,000. Finally, Meeder Asset Management Inc. purchased a new stake in Bandwidth during the 3rd quarter worth approximately $74,000. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.