Bandwidth (NASDAQ:BAND) Stock Rating Lowered by Wall Street Zen

Bandwidth (NASDAQ:BAND) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday.

Several other analysts have also weighed in on BAND. B. Riley Financial raised their target price on shares of Bandwidth from $20.00 to $27.00 and gave the stock a “buy” rating in a report on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bandwidth in a research report on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Bandwidth has a consensus rating of “Moderate Buy” and a consensus target price of $24.75.

Bandwidth Price Performance

BAND opened at $24.13 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.42. Bandwidth has a 1-year low of $11.33 and a 1-year high of $24.42. The company has a 50-day moving average of $16.19 and a 200-day moving average of $15.27. The company has a market capitalization of $757.44 million, a P/E ratio of -56.11 and a beta of 2.03.

Insider Buying and Selling at Bandwidth

In other Bandwidth news, CFO Daryl E. Raiford sold 17,026 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $15.47, for a total value of $263,392.22. Following the transaction, the chief financial officer owned 52,745 shares in the company, valued at $815,965.15. The trade was a 24.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 6.20% of the company’s stock.

Institutional Trading of Bandwidth

Several large investors have recently modified their holdings of BAND. Vanguard Group Inc. increased its stake in shares of Bandwidth by 3.5% in the third quarter. Vanguard Group Inc. now owns 1,988,533 shares of the company’s stock worth $33,149,000 after purchasing an additional 67,428 shares during the period. Dimensional Fund Advisors LP grew its holdings in Bandwidth by 2.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,464,976 shares of the company’s stock valued at $24,423,000 after buying an additional 30,248 shares during the last quarter. Portolan Capital Management LLC grew its holdings in Bandwidth by 115.8% in the 3rd quarter. Portolan Capital Management LLC now owns 745,802 shares of the company’s stock valued at $12,433,000 after buying an additional 400,231 shares during the last quarter. State Street Corp increased its position in Bandwidth by 2.6% in the 4th quarter. State Street Corp now owns 649,426 shares of the company’s stock worth $10,034,000 after buying an additional 16,654 shares during the period. Finally, Ameriprise Financial Inc. increased its position in Bandwidth by 10.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 642,264 shares of the company’s stock worth $10,707,000 after buying an additional 61,004 shares during the period. 68.53% of the stock is owned by institutional investors.

About Bandwidth

Bandwidth Inc operates a cloud-based communications platform that provides voice, messaging and emergency services APIs for enterprises and developers. Through its proprietary network and software-as-a-service model, the company enables customers to integrate programmable voice calls, text messaging and 9-1-1 routing into their applications. Bandwidth’s solutions aim to reduce complexity and improve reliability in mission-critical communications, serving industries such as healthcare, financial services, on-demand mobility and customer engagement.

Founded in 1999 in Raleigh, North Carolina by co-founders David Morken and Henry Kaestner, Bandwidth initially focused on voice-over-IP infrastructure before evolving into a full communications API provider.