Insider Selling: Bandwidth (NASDAQ:BAND) Insider Sells $41,842.56 in Stock

Bandwidth Inc. (NASDAQ:BAND) insider Devin Krupka sold 2,976 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $14.06, for a total transaction of $41,842.56. Following the sale, the insider owned 26,428 shares in the company, valued at approximately $371,577.68. The trade was a 10.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Bandwidth Stock Up 1.1%

BAND stock traded up $0.15 during midday trading on Tuesday, hitting $14.21. The company’s 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 PE ratio of 140.60 and a beta of 2.11. Bandwidth Inc. has a 12 month low of $11.33 and a 12 month high of $21.08. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.63. The firm’s 50-day moving average is $15.47 and its 200-day moving average is $15.13.

Analyst Ratings Changes

Several research firms recently commented on BAND. Robert W. Baird set a $16.00 price objective on Bandwidth in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bandwidth in a report on Wednesday, October 8th. Wedbush reiterated an “outperform” rating on shares of Bandwidth in a research note on Wednesday, September 17th. Finally, Wall Street Zen cut shares of Bandwidth from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Five equities research 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. According to data from MarketBeat, Bandwidth currently has an average rating of “Hold” and an average price target of $21.00.

Institutional Trading of Bandwidth

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its stake in shares of Bandwidth by 183.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,776 shares of the company’s stock worth $60,000 after acquiring an additional 2,445 shares during the last quarter. State of Wyoming bought a new position in Bandwidth in the 3rd quarter worth $71,000. US Bancorp DE raised its holdings in Bandwidth by 11,281.3% in the 1st quarter. US Bancorp DE now owns 5,463 shares of the company’s stock worth $72,000 after purchasing an additional 5,415 shares during the period. Raymond James Financial Inc. purchased a new position in Bandwidth during the second quarter valued at $85,000. Finally, Harbor Capital Advisors Inc. grew its holdings in Bandwidth by 30.3% during the third quarter. Harbor Capital Advisors Inc. now owns 7,509 shares of the company’s stock valued at $125,000 after purchasing an additional 1,748 shares during the period. 68.53% of the stock is owned by hedge funds and other institutional investors.

About Bandwidth

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.