Insider Selling: Bandwidth Inc. (NASDAQ:BAND) CFO Sells 1,849 Shares of Stock

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) CFO Daryl Raiford sold 1,849 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $15.46, for a total transaction of $28,585.54. Following the sale, the chief financial officer directly owned 122,548 shares of the company's stock, valued at $1,894,592.08. This trade represents a 1.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 transaction 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 transaction of $37,872.00.
• On Friday, May 30th, Daryl Raiford sold 2,655 shares of Bandwidth stock. The shares were sold at an average price of $14.11, for a total transaction of $37,462.05.
• 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 Stock Performance

Shares of BAND stock traded down $0.77 during mid-day trading on Thursday, reaching $15.14. 282,948 shares of the company's stock traded hands, compared to its average volume of 284,772. Bandwidth Inc. has a 12 month low of $11.33 and a 12 month high of $23.90. The firm has a 50 day moving average price of $14.90 and a two-hundred day moving average price of $15.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.31 and a current ratio of 1.31. The firm has a market capitalization of $450.57 million, a PE ratio of -43.26 and a beta of 1.84.

Bandwidth (NASDAQ:BAND - Get Free Report) last issued its quarterly earnings data 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 0.14% and a positive return on equity of 1.46%. The firm had revenue of $174.24 million during the quarter, compared to the consensus estimate of $168.96 million. During the same quarter in the previous year, the firm posted $0.27 EPS. The company's revenue for the quarter was up 1.8% compared to the same quarter last year. On average, research analysts forecast that Bandwidth Inc. will post 0.22 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on BAND shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 target price on shares of Bandwidth in a research report on Friday, June 13th. Morgan Stanley cut their target price on shares of Bandwidth from $18.00 to $11.00 and set an "underweight" rating for the company in a research report on Wednesday, April 16th. JMP Securities reaffirmed a "market outperform" rating and issued a $36.00 target price on shares of Bandwidth in a research report on Thursday, May 15th. Finally, Robert W. Baird cut their target price on shares of Bandwidth from $20.00 to $15.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $20.80.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Covestor Ltd purchased a new position in shares of Bandwidth during the 4th quarter valued at $25,000. New Age Alpha Advisors LLC purchased a new position in shares of Bandwidth during the 4th quarter valued at $50,000. US Bancorp DE lifted its stake in shares of Bandwidth by 11,281.3% during the 1st quarter. US Bancorp DE now owns 5,463 shares of the company's stock valued at $72,000 after buying an additional 5,415 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Bandwidth during the 1st quarter valued at $72,000. Finally, GAMMA Investing LLC lifted its stake in Bandwidth by 16,036.6% in the 1st quarter. GAMMA Investing LLC now owns 6,616 shares of the company's stock worth $87,000 after purchasing an additional 6,575 shares in the last quarter. Hedge funds and other institutional investors own 68.53% of the company's stock.

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.