Bandwidth Inc. (NASDAQ:BAND) COO Devesh Agarwal Sells 1,804 Shares

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) COO Devesh Agarwal sold 1,804 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $14.47, for a total value of $26,103.88. Following the transaction, the chief operating officer now owns 57,689 shares of the company's stock, valued at approximately $834,759.83. This trade represents a 3.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Devesh Agarwal also recently made the following trade(s):

• On Monday, March 3rd, Devesh Agarwal sold 6,538 shares of Bandwidth stock. The shares were sold at an average price of $15.70, for a total value of $102,646.60.

Bandwidth Trading Up 0.7%

BAND stock traded up $0.10 during midday trading on Tuesday, reaching $14.50. The company's stock had a trading volume of 236,821 shares, compared to its average volume of 287,896. 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 stock has a fifty day simple moving average of $13.14 and a two-hundred day simple moving average of $15.95. Bandwidth Inc. has a 1 year low of $11.33 and a 1 year high of $23.90. The firm has a market capitalization of $431.56 million, a price-to-earnings ratio of -25.44 and a beta of 1.88.

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

Institutional Trading of Bandwidth

A number of hedge funds and other institutional investors have recently bought and sold shares of BAND. Nuveen LLC purchased a new stake in Bandwidth in the first quarter worth $7,916,000. AQR Capital Management LLC grew its position in shares of 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 buying an additional 296,199 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of 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 buying an additional 200,387 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of 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 buying an additional 133,715 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of 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 buying an additional 112,269 shares in the last quarter. Hedge funds and other institutional investors own 68.53% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Robert W. Baird dropped their price target on Bandwidth from $20.00 to $15.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Barclays dropped their price target on Bandwidth from $25.00 to $22.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. William Blair restated an "outperform" rating on shares of Bandwidth 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 report on Thursday, May 15th. Finally, Needham & Company LLC began coverage on Bandwidth in a report on Wednesday, May 7th. They set a "buy" rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company 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.