Daryl Raiford Sells 2,630 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) CFO Daryl Raiford sold 2,630 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $14.40, for a total value of $37,872.00. Following the completion of the sale, the chief financial officer now owns 122,895 shares of the company's stock, valued at approximately $1,769,688. The trade was a 2.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 value of $46,130.36.
• 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 stock was sold at an average price of $14.47, for a total value of $32,311.51.

Bandwidth Stock Performance

BAND traded down $0.19 on Thursday, reaching $14.23. 221,700 shares of the stock were exchanged, compared to its average volume of 286,993. The company's 50-day moving average price is $13.16 and its 200 day moving average price is $15.94. Bandwidth Inc. has a fifty-two week low of $11.33 and a fifty-two week high of $23.90. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market capitalization of $423.53 million, a PE ratio of -24.96 and a beta of 1.88.

Bandwidth (NASDAQ:BAND - Get Free Report) last issued its quarterly earnings data 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 during 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 company's revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 EPS. As a group, sell-side analysts forecast that Bandwidth Inc. will post 0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Bandwidth

Institutional investors and hedge funds have recently modified their holdings of the business. Covestor Ltd purchased a new stake in Bandwidth during the 4th quarter worth approximately $25,000. New Age Alpha Advisors LLC purchased a new stake in Bandwidth during the 4th quarter worth approximately $50,000. SBI Securities Co. Ltd. purchased a new stake in Bandwidth during the 4th quarter worth approximately $69,000. US Bancorp DE increased its stake in Bandwidth by 11,281.3% during the 1st quarter. US Bancorp DE now owns 5,463 shares of the company's stock worth $72,000 after buying an additional 5,415 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in Bandwidth during the 1st quarter worth approximately $72,000. Hedge funds and other institutional investors own 68.53% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BAND. Needham & Company LLC began coverage on Bandwidth in a research report on Wednesday, May 7th. They set a "buy" rating and a $20.00 price objective on the stock. William Blair reiterated an "outperform" rating on shares of Bandwidth in a report on Friday, February 21st. Morgan Stanley reduced their price target on Bandwidth from $18.00 to $11.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. JMP Securities reiterated a "market outperform" rating and issued a $36.00 price target on shares of Bandwidth in a report on Thursday, May 15th. Finally, Barclays reduced their price target on Bandwidth from $25.00 to $22.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Bandwidth has an average rating of "Moderate Buy" and an average price target 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.