Bandwidth Inc. (NASDAQ:BAND) General Counsel Richard Brandon Asbill Sells 822 Shares

Bandwidth Inc. (NASDAQ:BAND) General Counsel Richard Brandon Asbill sold 822 shares of Bandwidth stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $17.39, for a total value of $14,294.58. Following the completion of the transaction, the general counsel now directly owns 43,405 shares in the company, valued at $754,812.95. This trade represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, November 29th, Richard Brandon Asbill sold 5,561 shares of Bandwidth stock. The shares were sold at an average price of $21.26, for a total value of $118,226.86.

Bandwidth Trading Up 2.6 %

Shares of BAND traded up $0.45 during trading hours on Monday, reaching $17.47. 221,689 shares of the company traded hands, compared to its average volume of 270,030. Bandwidth Inc. has a 12 month low of $11.90 and a 12 month high of $25.02. 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 fifty day moving average price is $19.10 and its two-hundred day moving average price is $18.13. The company has a market capitalization of $480.60 million, a price-to-earnings ratio of -18.78 and a beta of 1.52.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $193.90 million for the quarter, compared to analysts’ expectations of $182.05 million. During the same period in the previous year, the firm posted $0.03 EPS. The business’s revenue was up 27.6% on a year-over-year basis. Equities research analysts predict that Bandwidth Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bandwidth

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC boosted its holdings in shares of Bandwidth by 80.0% during the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $32,000 after buying an additional 800 shares in the last quarter. Quarry LP increased its holdings 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 acquiring an additional 1,245 shares in the last quarter. Redwood Wealth Management Group LLC bought a new position in shares of Bandwidth in the second quarter worth approximately $35,000. Daiwa Securities Group Inc. purchased a new stake in Bandwidth during the 2nd quarter valued at $57,000. Finally, Meeder Asset Management Inc. bought a new stake in Bandwidth in the 3rd quarter worth about $74,000. 68.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BAND. Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a report on Friday, November 1st. Morgan Stanley upped their price objective on shares of Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a research note on Wednesday, December 18th. Finally, Robert W. Baird increased 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bandwidth presently has a consensus rating of “Hold” and a consensus target price of $28.83.

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.