Bandwidth Inc. (NASDAQ:BAND - Get Free Report) insider Devin M. Krupka sold 1,229 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $14.47, for a total transaction of $17,783.63. Following the sale, the insider now directly owns 23,401 shares in the company, valued at $338,612.47. This trade represents a 4.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Bandwidth Stock Up 0.7%
NASDAQ BAND traded up $0.10 during trading hours on Tuesday, hitting $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 market capitalization of $431.56 million, a PE ratio of -25.44 and a beta of 1.88. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90. Bandwidth Inc. has a 52 week low of $11.33 and a 52 week high of $23.90. The company's 50-day simple moving average is $13.14 and its two-hundred day simple moving average is $15.95.
Bandwidth (NASDAQ:BAND - Get Free Report) last posted 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. Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. The company had revenue of $174.24 million for the quarter, compared to analyst estimates of $168.96 million. During the same quarter last year, the company earned $0.27 earnings per share. The company's revenue for the quarter was up 1.8% on a year-over-year basis. Research analysts anticipate that Bandwidth Inc. will post 0.22 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
BAND has been the subject of several research analyst reports. JMP Securities reiterated a "market outperform" rating and issued a $36.00 price objective on shares of Bandwidth in a research note on Thursday, May 15th. Barclays decreased their price target on shares of Bandwidth from $25.00 to $22.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Needham & Company LLC began coverage on shares of Bandwidth in a research report on Wednesday, May 7th. They set a "buy" rating and a $20.00 price objective on the stock. Robert W. Baird decreased their target price on Bandwidth from $20.00 to $15.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Finally, Morgan Stanley dropped their price target on Bandwidth from $18.00 to $11.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th. One equities 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. According to data from MarketBeat.com, Bandwidth presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.80.
Check Out Our Latest Analysis on Bandwidth
Institutional Trading of Bandwidth
Institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Bandwidth by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,185 shares of the company's stock worth $241,000 after purchasing 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 during the last quarter. Rhumbline Advisers lifted its holdings in Bandwidth by 3.7% during the first 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. SG Americas Securities LLC boosted its position in Bandwidth by 14.5% in the fourth 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 last quarter. Finally, Covestor Ltd purchased a new position in Bandwidth in the fourth quarter worth $25,000. Hedge funds and other institutional investors own 68.53% of the company's stock.
Bandwidth Company Profile
(
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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.
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