Mercer Global Advisors Inc. ADV Decreases Stock Position in Bandwidth Inc. (NASDAQ:BAND)

Mercer Global Advisors Inc. ADV trimmed its position in shares of Bandwidth Inc. (NASDAQ:BAND) by 3.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,808 shares of the company’s stock after selling 1,511 shares during the quarter. Mercer Global Advisors Inc. ADV owned 0.18% of Bandwidth worth $831,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Covestor Ltd bought a new position in Bandwidth during the 4th quarter valued at about $25,000. New Age Alpha Advisors LLC bought a new position in shares of Bandwidth during the fourth quarter valued at approximately $50,000. SBI Securities Co. Ltd. purchased a new stake in shares of Bandwidth in the fourth quarter worth approximately $69,000. one8zero8 LLC purchased a new stake in shares of Bandwidth in the fourth quarter worth approximately $170,000. Finally, SG Americas Securities LLC lifted its stake in shares of Bandwidth by 14.5% during the 4th quarter. SG Americas Securities LLC now owns 11,102 shares of the company’s stock worth $189,000 after acquiring an additional 1,407 shares during the last quarter. Institutional investors own 68.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on BAND. Morgan Stanley reduced their target price on Bandwidth from $18.00 to $11.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. William Blair reiterated an “outperform” rating on shares of Bandwidth in a report on Friday, February 21st. Robert W. Baird dropped their target price on shares of Bandwidth from $20.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday. Needham & Company LLC assumed coverage on shares of Bandwidth in a research note on Wednesday. They set a “buy” rating and a $20.00 price target for the company. Finally, Barclays dropped their price objective on Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.80.

Bandwidth Price Performance

NASDAQ BAND opened at $14.04 on Friday. The company has a market cap of $401.88 million, a PE ratio of -24.63 and a beta of 1.88. The firm’s 50 day moving average price is $13.36 and its 200-day moving average price is $16.51. 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 Inc. has a 52-week low of $11.33 and a 52-week high of $23.90.

Bandwidth (NASDAQ:BAND) last announced its earnings results on Wednesday, May 7th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.07. The business had revenue of $174.24 million for the quarter, compared to analysts’ expectations of $168.96 million. Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 EPS. Sell-side analysts forecast that Bandwidth Inc. will post 0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Richard Brandon Asbill sold 9,878 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $15.24, for a total transaction of $150,540.72. Following the completion of the sale, the general counsel now owns 42,475 shares in the company, valued at approximately $647,319. This represents a 18.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Devesh Agarwal sold 6,538 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 $102,646.60. Following the transaction, the chief operating officer now owns 53,413 shares in the company, valued at approximately $838,584.10. This trade represents a 10.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,721 shares of company stock worth $992,965. 6.50% of the stock is owned by corporate 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.