Daryl Raiford Sells 2,655 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) CFO Daryl Raiford sold 2,655 shares of Bandwidth stock in a transaction on Friday, May 30th. The shares were sold at an average price of $14.11, for a total transaction of $37,462.05. Following the transaction, the chief financial officer now owns 125,525 shares in the company, valued at approximately $1,771,157.75. This trade represents a 2.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 stock was sold at an average price of $14.40, for a total transaction 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 transaction of $32,311.51.

Bandwidth Trading Up 5.1%

BAND traded up $0.72 during trading on Friday, hitting $14.95. 356,518 shares of the stock were exchanged, compared to its average volume of 287,877. The firm has a 50 day simple moving average of $13.21 and a 200 day simple moving average of $15.88. The firm has a market cap of $444.96 million, a price-to-earnings ratio of -26.23 and a beta of 1.88. Bandwidth Inc. has a 1 year low of $11.33 and a 1 year high of $23.90. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.34 and a current ratio of 1.34.

Bandwidth (NASDAQ:BAND - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.36 earnings per share 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 firm had revenue of $174.24 million during the quarter, compared to analysts' expectations of $168.96 million. During the same quarter in the prior year, the company earned $0.27 EPS. The company's revenue was up 1.8% compared to the same quarter last year. As a group, equities analysts expect that Bandwidth Inc. will post 0.22 EPS for the current year.

Institutional Investors Weigh In On Bandwidth

Several hedge funds have recently modified their holdings of BAND. Vanguard Group Inc. lifted its position in Bandwidth by 0.9% during the first quarter. Vanguard Group Inc. now owns 1,785,698 shares of the company's stock valued at $23,393,000 after acquiring an additional 16,671 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Bandwidth by 9.9% during the 4th 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 in the last quarter. Renaissance Technologies LLC increased its stake in Bandwidth by 15.3% during the 4th quarter. Renaissance Technologies LLC now owns 651,300 shares of the company's stock valued at $11,085,000 after purchasing an additional 86,200 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Bandwidth by 16.6% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 611,880 shares of the company's stock valued at $8,016,000 after purchasing an additional 87,294 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Bandwidth during the 1st quarter valued at approximately $7,916,000. Hedge funds and other institutional investors own 68.53% of the company's stock.

Analyst Upgrades and Downgrades

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