Lazard Asset Management LLC Grows Stock Position in Bandwidth Inc. (NASDAQ:BAND)

Lazard Asset Management LLC boosted its holdings in Bandwidth Inc. (NASDAQ:BAND) by 54.2% in the 4th quarter, HoldingsChannel reports. The fund owned 89,455 shares of the company’s stock after acquiring an additional 31,456 shares during the quarter. Lazard Asset Management LLC’s holdings in Bandwidth were worth $1,522,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Graham Capital Management L.P. acquired a new stake in Bandwidth in the fourth quarter valued at $204,000. Deutsche Bank AG lifted its position in Bandwidth by 61.7% during the fourth quarter. Deutsche Bank AG now owns 20,203 shares of the company’s stock worth $344,000 after buying an additional 7,707 shares during the period. Corton Capital Inc. lifted its position in Bandwidth by 11.4% during the fourth quarter. Corton Capital Inc. now owns 24,508 shares of the company’s stock worth $417,000 after buying an additional 2,509 shares during the period. Balyasny Asset Management L.P. lifted its position in Bandwidth by 113.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 46,066 shares of the company’s stock worth $784,000 after buying an additional 24,508 shares during the period. Finally, Bayesian Capital Management LP purchased a new position in Bandwidth during the fourth quarter worth about $257,000. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BAND shares. William Blair restated an “outperform” rating on shares of Bandwidth in a report on Friday, February 21st. Barclays dropped their price objective on Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Needham & Company LLC began coverage on Bandwidth in a report on Wednesday, May 7th. They set a “buy” rating and a $20.00 price objective on the stock. JMP Securities reiterated a “market outperform” rating and issued a $36.00 target price on shares of Bandwidth in a research report on Thursday. Finally, Robert W. Baird decreased their target price on Bandwidth from $20.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Bandwidth presently has an average rating of “Moderate Buy” and an average target price of $20.80.

Bandwidth Trading Down 1.0%

NASDAQ:BAND opened at $14.46 on Monday. Bandwidth Inc. has a 12-month low of $11.33 and a 12-month high of $23.90. The firm has a market capitalization of $430.37 million, a P/E ratio of -25.37 and a beta of 1.88. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.34 and a quick ratio of 1.34. The business has a 50 day simple moving average of $13.31 and a 200 day simple moving average of $16.36.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. The business had revenue of $174.24 million during the quarter, compared to analyst estimates of $168.96 million. During the same quarter in the previous year, the firm posted $0.27 EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities research analysts predict that Bandwidth Inc. will post 0.22 EPS for the current year.

Insiders Place Their Bets

In other news, insider Devin M. Krupka sold 3,770 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.70, for a total value of $59,189.00. Following the sale, the insider now owns 19,188 shares of the company’s stock, valued at approximately $301,251.60. The trade was a 16.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Richard Brandon Asbill sold 9,878 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $15.24, for a total value of $150,540.72. Following the completion of the sale, the general counsel now directly owns 42,475 shares in the company, valued at $647,319. This represents a 18.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,721 shares of company stock worth $992,965. 6.50% of the stock is owned by company insiders.

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.