Bandwidth Inc. (NASDAQ:BAND) CFO Sells $37,462.05 in Stock

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) CFO Daryl Raiford sold 2,655 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $14.11, for a total value of $37,462.05. Following the completion of the transaction, the chief financial officer now owns 125,525 shares in the company, valued at $1,771,157.75. This represents a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 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 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

NASDAQ:BAND traded down $0.19 during mid-day trading on Thursday, reaching $14.23. The stock had a trading volume of 221,700 shares, compared to its average volume of 286,993. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a market capitalization of $423.53 million, a price-to-earnings ratio of -24.96 and a beta of 1.88. Bandwidth Inc. has a twelve month low of $11.33 and a twelve month high of $23.90. The business has a 50 day simple moving average of $13.16 and a 200 day simple moving average of $15.94.

Bandwidth (NASDAQ:BAND - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $174.24 million during the quarter, compared to analysts' expectations of $168.96 million. During the same period last year, the company posted $0.27 earnings per share. The firm's quarterly revenue was up 1.8% compared to the same quarter last year. On average, analysts expect that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BAND has been the topic of a number of research reports. Barclays decreased their price target on Bandwidth from $25.00 to $22.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. JMP Securities reaffirmed a "market outperform" rating and set a $36.00 price objective on shares of Bandwidth in a research report on Thursday, May 15th. Robert W. Baird cut their price objective on Bandwidth from $20.00 to $15.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Morgan Stanley cut their price objective on Bandwidth from $18.00 to $11.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 16th. Finally, William Blair reaffirmed an "outperform" rating on shares of Bandwidth in a research report on Friday, February 21st. 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. According to data from MarketBeat.com, Bandwidth currently has an average rating of "Moderate Buy" and an average target price of $20.80.

Institutional Trading of Bandwidth

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers grew its stake in Bandwidth by 3.7% in the 1st quarter. Rhumbline Advisers now owns 35,603 shares of the company's stock worth $466,000 after acquiring an additional 1,255 shares during the period. Palogic Value Management L.P. boosted its holdings in shares of Bandwidth by 10.0% in the 1st quarter. Palogic Value Management L.P. now owns 220,000 shares of the company's stock valued at $2,882,000 after purchasing an additional 20,000 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Bandwidth by 303.1% in the 1st quarter. AQR Capital Management LLC now owns 393,907 shares of the company's stock valued at $5,160,000 after purchasing an additional 296,199 shares during the last quarter. PDT Partners LLC acquired a new stake in shares of Bandwidth during the 1st quarter worth $470,000. Finally, Panagora Asset Management Inc. raised its position in shares of Bandwidth by 7.4% in the 1st quarter. Panagora Asset Management Inc. now owns 143,177 shares of the company's stock worth $1,876,000 after buying an additional 9,913 shares during the period. 68.53% of the stock is owned by hedge funds and other institutional investors.

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.