Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford Sells 1,136 Shares

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) CFO Daryl Raiford sold 1,136 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $15.65, for a total transaction of $17,778.40. Following the transaction, the chief financial officer owned 121,412 shares in the company, valued at approximately $1,900,097.80. This represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Daryl Raiford also recently made the following trade(s):

• On Tuesday, July 22nd, Daryl Raiford sold 1,849 shares of Bandwidth stock. The shares were sold at an average price of $15.46, for a total transaction of $28,585.54.
• On Tuesday, June 3rd, Daryl Raiford sold 3,188 shares of Bandwidth stock. The stock was sold at an average price of $14.47, for a total transaction of $46,130.36.
• On Monday, June 2nd, Daryl Raiford sold 2,630 shares of Bandwidth stock. The stock was sold at an average price of $14.40, for a total transaction of $37,872.00.
• On Friday, May 30th, Daryl Raiford sold 2,655 shares of Bandwidth stock. The shares were sold at an average price of $14.11, for a total transaction of $37,462.05.
• On Thursday, May 29th, Daryl Raiford sold 2,233 shares of Bandwidth stock. The stock was sold at an average price of $14.47, for a total transaction of $32,311.51.

Bandwidth Price Performance

NASDAQ:BAND traded down $0.77 on Thursday, hitting $15.14. The company had a trading volume of 282,948 shares, compared to its average volume of 284,772. The stock has a market capitalization of $450.57 million, a price-to-earnings ratio of -43.26 and a beta of 1.84. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.71. The firm has a 50 day moving average of $14.90 and a two-hundred day moving average of $15.00. Bandwidth Inc. has a 52 week low of $11.33 and a 52 week high of $23.90.

Bandwidth (NASDAQ:BAND - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.29 by $0.07. Bandwidth had a negative net margin of 0.14% and a positive return on equity of 1.46%. The business had revenue of $174.24 million during the quarter, compared to the consensus estimate of $168.96 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The firm's revenue was up 1.8% compared to the same quarter last year. On average, research analysts anticipate that Bandwidth Inc. will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On Bandwidth

Several institutional investors and hedge funds have recently added to or reduced their stakes in BAND. Allspring Global Investments Holdings LLC increased its position in shares of Bandwidth by 53.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 21,876 shares of the company's stock worth $287,000 after buying an additional 7,661 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Bandwidth by 12.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 300,076 shares of the company's stock worth $5,107,000 after buying an additional 32,709 shares during the period. Vanguard Group Inc. increased its position in shares of Bandwidth by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 1,769,027 shares of the company's stock worth $30,109,000 after buying an additional 73,623 shares during the period. Two Sigma Investments LP increased its position in shares of Bandwidth by 8.9% during the fourth quarter. Two Sigma Investments LP now owns 108,338 shares of the company's stock worth $1,844,000 after buying an additional 8,813 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Bandwidth by 9.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company's stock worth $21,260,000 after buying an additional 112,269 shares during the period. 68.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BAND has been the topic of several analyst reports. JMP Securities reissued a "market outperform" rating and set a $36.00 price target on shares of Bandwidth in a research report on Thursday, May 15th. Needham & Company LLC restated a "buy" rating and set a $20.00 price objective on shares of Bandwidth in a research note on Friday, June 13th. Morgan Stanley lowered their price objective on shares of Bandwidth from $18.00 to $11.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Robert W. Baird lowered their price objective on shares of Bandwidth from $20.00 to $15.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $20.80.

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.

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