Bandwidth Inc. (NASDAQ:BAND) Shares Sold by Intrinsic Edge Capital Management LLC

Intrinsic Edge Capital Management LLC lowered its holdings in shares of Bandwidth Inc. (NASDAQ:BAND - Free Report) by 33.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 221,058 shares of the company's stock after selling 113,376 shares during the quarter. Intrinsic Edge Capital Management LLC owned 0.80% of Bandwidth worth $3,762,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in Bandwidth by 10.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,182 shares of the company's stock worth $293,000 after purchasing an additional 1,658 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Bandwidth by 9.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company's stock worth $21,260,000 after acquiring an additional 112,269 shares during the period. Jump Financial LLC grew its holdings in Bandwidth by 43.6% during the 4th quarter. Jump Financial LLC now owns 23,688 shares of the company's stock worth $403,000 after acquiring an additional 7,188 shares in the last quarter. Barclays PLC increased its position in Bandwidth by 2.6% during the 4th quarter. Barclays PLC now owns 230,269 shares of the company's stock valued at $3,919,000 after purchasing an additional 5,772 shares during the period. Finally, Covestor Ltd bought a new stake in shares of Bandwidth in the 4th quarter valued at about $25,000. 68.53% of the stock is currently owned by hedge funds and other institutional investors.

Bandwidth Stock Up 0.3 %

Bandwidth stock traded up $0.04 during mid-day trading on Thursday, reaching $12.46. 62,506 shares of the company's stock were exchanged, compared to its average volume of 289,204. Bandwidth Inc. has a twelve month low of $11.33 and a twelve month high of $25.02. The company has a market cap of $356.63 million, a P/E ratio of -21.88 and a beta of 1.89. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.90. The company has a fifty day moving average of $13.80 and a 200-day moving average of $16.77.

Bandwidth (NASDAQ:BAND - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.36). The business had revenue of $209.97 million during the quarter, compared to analysts' expectations of $203.68 million. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. During the same period last year, the company earned $0.38 EPS. Sell-side analysts expect that Bandwidth Inc. will post 0.22 EPS for the current year.

Insiders Place Their Bets

In related news, General Counsel Richard Brandon Asbill sold 5,629 shares of Bandwidth stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.70, for a total transaction of $88,375.30. Following the completion of the transaction, the general counsel now directly owns 57,475 shares of the company's stock, valued at approximately $902,357.50. The trade was a 8.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David A. Morken sold 13,653 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $15.70, for a total transaction of $214,352.10. Following the completion of the sale, the chief executive officer now owns 142,439 shares in the company, valued at $2,236,292.30. This represents a 8.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,721 shares of company stock worth $992,965. 6.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BAND. Morgan Stanley dropped 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. William Blair reaffirmed an "outperform" rating on shares of Bandwidth in a research report on Friday, February 21st. Barclays dropped their target price 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, Needham & Company LLC reissued a "hold" rating on shares of Bandwidth in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $27.17.

Bandwidth 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.