Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford Sells 2,233 Shares

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) CFO Daryl Raiford sold 2,233 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $14.47, for a total transaction of $32,311.51. Following the sale, the chief financial officer now owns 117,578 shares in the company, valued at $1,701,353.66. The trade was a 1.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 transaction 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 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 Monday, March 3rd, Daryl Raiford sold 24,253 shares of Bandwidth stock. The shares were sold at an average price of $15.58, for a total transaction of $377,861.74.

Bandwidth Trading Up 0.7%

NASDAQ:BAND traded up $0.10 during mid-day trading on Tuesday, hitting $14.50. 236,821 shares of the company's stock were exchanged, compared to its average volume of 287,896. The company has a 50 day simple moving average of $13.14 and a 200-day simple moving average of $15.95. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90. Bandwidth Inc. has a fifty-two week low of $11.33 and a fifty-two week high of $23.90. The firm has a market capitalization of $431.56 million, a P/E ratio of -25.44 and a beta of 1.88.

Bandwidth (NASDAQ:BAND - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. The business had revenue of $174.24 million for the quarter, compared to the consensus estimate of $168.96 million. During the same period last year, the company earned $0.27 EPS. The firm's revenue was up 1.8% compared to the same quarter last year. As a group, research analysts expect that Bandwidth Inc. will post 0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BAND. Nuveen LLC bought a new position in Bandwidth during the 1st quarter worth approximately $7,916,000. AQR Capital Management LLC raised its holdings in Bandwidth by 303.1% during the 1st quarter. AQR Capital Management LLC now owns 393,907 shares of the company's stock worth $5,160,000 after purchasing an additional 296,199 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Bandwidth by 61.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 524,586 shares of the company's stock worth $8,928,000 after purchasing an additional 200,387 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Bandwidth by 88.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 285,559 shares of the company's stock worth $4,860,000 after purchasing an additional 133,715 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Bandwidth by 9.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company's stock worth $21,260,000 after purchasing an additional 112,269 shares during the last quarter. Institutional investors own 68.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BAND shares. William Blair restated an "outperform" rating on shares of Bandwidth in a research note on Friday, February 21st. Barclays reduced their price target on shares of Bandwidth from $25.00 to $22.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Needham & Company LLC started coverage on shares of Bandwidth in a research note on Wednesday, May 7th. They issued a "buy" rating and a $20.00 price target on the stock. JMP Securities reiterated a "market outperform" rating and set a $36.00 target price on shares of Bandwidth in a research report on Thursday, May 15th. Finally, Robert W. Baird cut their target price on shares of Bandwidth from $20.00 to $15.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.80.

Bandwidth Company 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.