Bandwidth (NASDAQ:BAND) Insider Kade Ross Sells 3,819 Shares

Bandwidth Inc. (NASDAQ:BAND) insider Kade Ross sold 3,819 shares of Bandwidth stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $14.06, for a total value of $53,695.14. Following the sale, the insider directly owned 80,540 shares in the company, valued at approximately $1,132,392.40. This trade represents a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Bandwidth Stock Performance

Shares of NASDAQ BAND traded up $0.15 during trading hours on Tuesday, reaching $14.21. The stock had a trading volume of 309,799 shares, compared to its average volume of 178,093. The company has a market cap of $433.69 million, a price-to-earnings ratio of 140.60 and a beta of 2.11. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.39 and a quick ratio of 1.39. The business’s fifty day moving average is $15.47 and its two-hundred day moving average is $15.13. Bandwidth Inc. has a twelve month low of $11.33 and a twelve month high of $21.08.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Nuveen LLC bought a new stake in Bandwidth in the 1st quarter valued at $7,916,000. Portolan Capital Management LLC raised its stake in shares of Bandwidth by 115.8% during the 3rd quarter. Portolan Capital Management LLC now owns 745,802 shares of the company’s stock worth $12,433,000 after purchasing an additional 400,231 shares in the last quarter. AQR Capital Management LLC lifted its stake in Bandwidth by 303.1% in the first quarter. AQR Capital Management LLC now owns 393,907 shares of the company’s stock valued at $5,160,000 after acquiring an additional 296,199 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Bandwidth by 71.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 327,942 shares of the company’s stock valued at $5,467,000 after purchasing an additional 136,624 shares during the last quarter. Finally, Bridgeway Capital Management LLC acquired a new stake in shares of Bandwidth in the second quarter valued at approximately $2,166,000. Institutional investors own 68.53% of the company’s stock.

Analyst Upgrades and Downgrades

BAND has been the topic of several analyst reports. Wedbush reiterated an “outperform” rating on shares of Bandwidth in a research note on Wednesday, September 17th. Wall Street Zen downgraded shares of Bandwidth from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Robert W. Baird set a $16.00 price target on Bandwidth in a research note on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bandwidth in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $21.00.

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.