Bandwidth Inc (NASDAQ:BAND) Director John C. Murdock sold 13,290 shares of Bandwidth stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $66.00, for a total value of $877,140.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
BAND stock traded up $1.13 during trading on Thursday, hitting $66.58. The stock had a trading volume of 149,460 shares, compared to its average volume of 160,037. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 214.77 and a beta of 0.75. Bandwidth Inc has a twelve month low of $27.75 and a twelve month high of $67.50.
Bandwidth (NASDAQ:BAND) last released its quarterly earnings results on Wednesday, February 13th. The company reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.25. The firm had revenue of $52.34 million for the quarter, compared to analyst estimates of $49.37 million. Bandwidth had a net margin of 8.78% and a return on equity of 2.14%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.09 EPS. As a group, equities research analysts anticipate that Bandwidth Inc will post -0.81 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of BAND. Renaissance Technologies LLC acquired a new position in shares of Bandwidth during the third quarter worth $16,834,000. Bank of New York Mellon Corp raised its holdings in Bandwidth by 48.1% during the second quarter. Bank of New York Mellon Corp now owns 889,436 shares of the company’s stock worth $33,780,000 after purchasing an additional 288,730 shares in the last quarter. Jennison Associates LLC purchased a new position in Bandwidth during the fourth quarter worth about $10,406,000. Vanguard Group Inc raised its holdings in Bandwidth by 101.4% during the third quarter. Vanguard Group Inc now owns 343,435 shares of the company’s stock worth $18,398,000 after purchasing an additional 172,903 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Bandwidth by 101.4% in the third quarter. Vanguard Group Inc. now owns 343,435 shares of the company’s stock valued at $18,398,000 after buying an additional 172,903 shares in the last quarter. 44.10% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on the company. Zacks Investment Research upgraded Bandwidth from a “sell” rating to a “hold” rating in a research note on Thursday, March 7th. Morgan Stanley lifted their price target on Bandwidth from $44.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, January 7th. Finally, ValuEngine upgraded Bandwidth from a “hold” rating to a “buy” rating in a research note on Wednesday, January 2nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $52.50.
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Bandwidth Company Profile
Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provides in the United States. The company operates through two segments, CPaaS and Other. Its platform enables enterprises to create, scale, and operate voice or text communications services across mobile application or connected device.
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