Los Angeles Capital Management LLC Has $372,000 Position in Bandwidth Inc. (NASDAQ:BAND)

Los Angeles Capital Management LLC raised its holdings in shares of Bandwidth Inc. (NASDAQ:BAND) by 3.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,221 shares of the company’s stock after buying an additional 740 shares during the quarter. Los Angeles Capital Management LLC owned about 0.08% of Bandwidth worth $372,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BAND. Innealta Capital LLC acquired a new position in shares of Bandwidth during the second quarter worth approximately $30,000. nVerses Capital LLC boosted its stake in Bandwidth by 80.0% in the third quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $32,000 after purchasing an additional 800 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new position in Bandwidth in the second quarter worth $35,000. Ameritas Investment Partners Inc. lifted its stake in shares of Bandwidth by 31.6% during the first quarter. Ameritas Investment Partners Inc. now owns 2,355 shares of the company’s stock valued at $43,000 after acquiring an additional 565 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Bandwidth during the second quarter valued at $57,000. 68.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. JMP Securities restated a “market outperform” rating and issued a $36.00 price target on shares of Bandwidth in a report on Tuesday, August 27th. Barclays dropped their target price on Bandwidth from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Robert W. Baird lifted their target price on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $28.33.

Bandwidth Stock Performance

Shares of NASDAQ BAND opened at $18.57 on Monday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.83. Bandwidth Inc. has a 12 month low of $10.60 and a 12 month high of $25.02. The stock has a 50 day moving average of $17.95 and a 200-day moving average of $18.39. The company has a market capitalization of $510.86 million, a P/E ratio of -19.97 and a beta of 1.50.

Bandwidth (NASDAQ:BAND) last issued its earnings results on Thursday, October 31st. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.32 by $0.11. The company had revenue of $193.90 million during the quarter, compared to the consensus estimate of $182.05 million. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The firm’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 EPS. As a group, equities research analysts predict that Bandwidth Inc. will post 0.08 EPS for the current year.

Insider Activity at Bandwidth

In other news, CFO Daryl Raiford sold 4,350 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $16.97, for a total transaction of $73,819.50. Following the completion of the sale, the chief financial officer now directly owns 71,546 shares in the company, valued at approximately $1,214,135.62. This represents a 5.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold 8,630 shares of company stock worth $148,515 in the last ninety days. 6.20% of the stock is owned by company insiders.

Bandwidth 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.