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

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) CFO Daryl Raiford sold 2,630 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $14.40, for a total value of $37,872.00. Following the sale, the chief financial officer now owns 122,895 shares in the company, valued at approximately $1,769,688. This represents a 2.10% decrease in their position. The transaction 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 transaction of $46,130.36.
• 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 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 Up 5.1%

BAND traded up $0.72 on Friday, hitting $14.95. The company had a trading volume of 356,518 shares, compared to its average volume of 287,877. Bandwidth Inc. has a 52-week low of $11.33 and a 52-week high of $23.90. The stock has a fifty day simple moving average of $13.21 and a 200-day simple moving average of $15.88. The firm has a market capitalization of $444.96 million, a P/E ratio of -26.23 and a beta of 1.88. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.34 and a quick ratio of 1.34.

Bandwidth (NASDAQ:BAND - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.07. The business had revenue of $174.24 million during the quarter, compared to the consensus estimate of $168.96 million. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. 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 earnings per share. As a group, equities analysts expect that Bandwidth Inc. will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Bandwidth

Several institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Bandwidth by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,185 shares of the company's stock valued at $241,000 after acquiring an additional 608 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its position in shares of Bandwidth by 1.6% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 43,366 shares of the company's stock valued at $738,000 after acquiring an additional 699 shares in the last quarter. Rhumbline Advisers increased its position in shares of Bandwidth by 3.7% during the first quarter. Rhumbline Advisers now owns 35,603 shares of the company's stock valued at $466,000 after acquiring an additional 1,255 shares in the last quarter. SG Americas Securities LLC grew its position in Bandwidth by 14.5% in the 4th quarter. SG Americas Securities LLC now owns 11,102 shares of the company's stock worth $189,000 after purchasing an additional 1,407 shares during the period. Finally, Covestor Ltd bought a new stake in Bandwidth in the 4th quarter worth approximately $25,000. Institutional investors own 68.53% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BAND. JMP Securities reaffirmed a "market outperform" rating and set a $36.00 price objective on shares of Bandwidth in a research note on Thursday, May 15th. Needham & Company LLC began coverage on Bandwidth in a research note on Wednesday, May 7th. They set a "buy" rating and a $20.00 price objective on the stock. Morgan Stanley dropped their target price on shares of Bandwidth from $18.00 to $11.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. William Blair reiterated an "outperform" rating on shares of Bandwidth in a report on Friday, February 21st. Finally, Barclays dropped their target price on shares of Bandwidth from $25.00 to $22.00 and set an "overweight" rating for the company 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 given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus 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.