Counterpoint Mutual Funds LLC Acquires Shares of 22,568 Bandwidth Inc. (NASDAQ:BAND)

Counterpoint Mutual Funds LLC acquired a new stake in shares of Bandwidth Inc. (NASDAQ:BAND) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 22,568 shares of the company’s stock, valued at approximately $384,000. Counterpoint Mutual Funds LLC owned 0.08% of Bandwidth at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp lifted its position in Bandwidth by 3.7% during the third quarter. State Street Corp now owns 655,768 shares of the company’s stock valued at $11,482,000 after buying an additional 23,352 shares during the period. Geode Capital Management LLC lifted its position in Bandwidth by 3.6% during the third quarter. Geode Capital Management LLC now owns 568,667 shares of the company’s stock valued at $9,960,000 after buying an additional 19,832 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Bandwidth by 61.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 524,586 shares of the company’s stock valued at $8,928,000 after buying an additional 200,387 shares during the period. FMR LLC lifted its position in Bandwidth by 70.3% during the third quarter. FMR LLC now owns 371,215 shares of the company’s stock valued at $6,500,000 after buying an additional 153,223 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Bandwidth by 12.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 300,076 shares of the company’s stock valued at $5,107,000 after acquiring an additional 32,709 shares in the last quarter. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. William Blair restated an “outperform” rating on shares of Bandwidth in a report on Friday, February 21st. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a report on Friday, February 21st. Barclays reduced their price target on Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, Morgan Stanley raised their price target on Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.33.

Bandwidth Price Performance

NASDAQ BAND opened at $15.03 on Tuesday. Bandwidth Inc. has a one year low of $13.51 and a one year high of $25.02. The stock has a 50-day moving average of $16.75 and a 200 day moving average of $17.76. The company has a market capitalization of $430.22 million, a price-to-earnings ratio of -26.37 and a beta of 1.57. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.34 and a current ratio of 1.34.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.36). Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. The business had revenue of $209.97 million during the quarter, compared to the consensus estimate of $203.68 million. During the same quarter in the previous year, the business posted $0.38 earnings per share. On average, sell-side analysts forecast that Bandwidth Inc. will post 0.22 EPS for the current year.

Insider Activity

In related news, CEO David A. Morken sold 2,777 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $17.39, for a total transaction of $48,292.03. Following the completion of the transaction, the chief executive officer now directly owns 109,783 shares in the company, valued at approximately $1,909,126.37. The trade was a 2.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Richard Brandon Asbill sold 5,629 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $15.70, for a total value of $88,375.30. Following the transaction, the general counsel now owns 57,475 shares of the company’s stock, valued at approximately $902,357.50. This trade represents a 8.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,510 shares of company stock valued at $1,109,806 in the last quarter. 6.20% of the stock is currently owned by insiders.

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.