Daryl Raiford Sells 4,371 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 4,371 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $20.70, for a total transaction of $90,479.70. Following the completion of the transaction, the chief financial officer now directly owns 93,451 shares in the company, valued at approximately $1,934,435.70. This represents a 4.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Daryl Raiford also recently made the following trade(s):

• On Friday, November 29th, Daryl Raiford sold 10,389 shares of Bandwidth stock. The shares were sold at an average price of $21.26, for a total transaction of $220,870.14.
• On Tuesday, September 3rd, Daryl Raiford sold 4,350 shares of Bandwidth stock. The shares were sold at an average price of $16.97, for a total value of $73,819.50.

Bandwidth Trading Up 0.4 %

NASDAQ BAND traded up $0.08 during trading hours on Monday, reaching $21.11. The company’s stock had a trading volume of 399,651 shares, compared to its average volume of 309,419. Bandwidth Inc. has a 52 week low of $11.01 and a 52 week high of $25.02. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market cap of $580.74 million, a P/E ratio of -22.70 and a beta of 1.50. The firm has a fifty day simple moving average of $18.66 and a 200-day simple moving average of $18.30.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate 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 net margin of 2.23% and a negative return on equity of 0.89%. Bandwidth’s revenue for the quarter was up 27.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Equities analysts forecast that Bandwidth Inc. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BAND has been the topic of several research analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $36.00 price objective on shares of Bandwidth in a research note on Tuesday, August 27th. Robert W. Baird upped their price objective on shares of Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $28.33.

Institutional Investors Weigh In On Bandwidth

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. boosted its holdings in Bandwidth by 411.1% in the second quarter. Point72 Asset Management L.P. now owns 597,933 shares of the company’s stock valued at $10,093,000 after acquiring an additional 480,933 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Bandwidth by 79.8% in the 2nd quarter. Acadian Asset Management LLC now owns 613,612 shares of the company’s stock valued at $10,353,000 after purchasing an additional 272,309 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Bandwidth by 185.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 341,921 shares of the company’s stock worth $5,987,000 after buying an additional 222,142 shares in the last quarter. FMR LLC increased its stake in shares of 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 acquiring an additional 153,223 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Bandwidth by 35.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 324,199 shares of the company’s stock valued at $5,677,000 after acquiring an additional 83,979 shares during the period. Institutional investors and hedge funds 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.