Bandwidth Inc. (NASDAQ:BAND) CEO Sells $214,352.10 in Stock

Bandwidth Inc. (NASDAQ:BAND) CEO David A. Morken sold 13,653 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.70, for a total value of $214,352.10. Following the completion of the transaction, the chief executive officer now owns 142,439 shares in the company, valued at approximately $2,236,292.30. This trade represents a 8.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Bandwidth Price Performance

NASDAQ:BAND opened at $15.26 on Thursday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.90. The business’s 50-day simple moving average is $17.12 and its two-hundred day simple moving average is $17.89. The stock has a market cap of $436.80 million, a PE ratio of -26.77 and a beta of 1.57. Bandwidth Inc. has a 52 week low of $13.51 and a 52 week high of $25.02.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.36). The business had revenue of $209.97 million for the quarter, compared to the consensus estimate of $203.68 million. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. During the same period in the prior year, the business earned $0.38 earnings per share. As a group, analysts forecast that Bandwidth Inc. will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Bandwidth

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Bandwidth by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 1,769,027 shares of the company’s stock worth $30,109,000 after purchasing an additional 73,623 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Bandwidth by 9.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company’s stock worth $21,260,000 after purchasing an additional 112,269 shares during the last quarter. State Street Corp increased its holdings in shares of Bandwidth by 3.7% in the third quarter. State Street Corp now owns 655,768 shares of the company’s stock worth $11,482,000 after purchasing an additional 23,352 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Bandwidth by 15.3% in the fourth quarter. Renaissance Technologies LLC now owns 651,300 shares of the company’s stock worth $11,085,000 after purchasing an additional 86,200 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Bandwidth by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 570,910 shares of the company’s stock worth $9,720,000 after purchasing an additional 2,243 shares during the last quarter. 68.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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