Bandwidth Inc. (NASDAQ:BAND) CFO Sells $17,778.40 in Stock

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

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

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

Bandwidth Stock Performance

Bandwidth stock traded up $1.22 during trading hours on Monday, reaching $16.21. 614,457 shares of the stock were exchanged, compared to its average volume of 230,095. Bandwidth Inc. has a 52-week low of $11.33 and a 52-week high of $23.90. The stock has a market cap of $482.41 million, a P/E ratio of -46.31 and a beta of 1.84. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.31 and a current ratio of 1.31. The firm's 50 day moving average is $14.96 and its 200 day moving average is $14.95.

Bandwidth (NASDAQ:BAND - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.07. The business had revenue of $174.24 million for the quarter, compared to analyst estimates of $168.96 million. Bandwidth had a negative net margin of 0.14% and a positive return on equity of 1.46%. The business's revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.27 earnings per share. Analysts predict that Bandwidth Inc. will post 0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Bandwidth

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its position in Bandwidth by 53.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 21,876 shares of the company's stock worth $287,000 after acquiring an additional 7,661 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Bandwidth by 12.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 300,076 shares of the company's stock worth $5,107,000 after purchasing an additional 32,709 shares during the period. Vanguard Group Inc. increased its holdings in shares of Bandwidth by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 1,769,027 shares of the company's stock valued at $30,109,000 after purchasing an additional 73,623 shares in the last quarter. Two Sigma Investments LP increased its holdings in shares of Bandwidth by 8.9% in the 4th quarter. Two Sigma Investments LP now owns 108,338 shares of the company's stock valued at $1,844,000 after purchasing an additional 8,813 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Bandwidth by 9.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company's stock valued at $21,260,000 after purchasing an additional 112,269 shares during the period. 68.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 target price on shares of Bandwidth in a report 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 report on Wednesday, April 16th. JMP Securities reaffirmed a "market outperform" rating and issued a $36.00 target price on shares of Bandwidth in a report on Thursday, May 15th. Finally, Robert W. Baird lowered their price target on Bandwidth from $20.00 to $15.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.