Devesh Agarwal Sells 4,066 Shares of Bandwidth (NASDAQ:BAND) Stock

Key Points

• Bandwidth COO Devesh Agarwal sold 4,066 shares on May 29 at an average price of $58.85, for proceeds of about $239,284. After the sale, he still held 68,579 shares, a 5.6% reduction in his ownership.
• The COO has been actively trimming his stake, with additional recent sales of 15,000 shares on May 20 and more than 20,000 shares combined on May 13 and May 14.
• Bandwidth’s stock has surged sharply, trading up to $70.89, near its 52-week high of $71.76, after the company beat quarterly EPS and revenue estimates and issued guidance above expectations.

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) COO Devesh Agarwal sold 4,066 shares of the firm's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $58.85, for a total transaction of $239,284.10. Following the completion of the transaction, the chief operating officer directly owned 68,579 shares in the company, valued at $4,035,874.15. This represents a 5.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Wednesday, May 20th, Devesh Agarwal sold 15,000 shares of Bandwidth stock. The stock was sold at an average price of $57.24, for a total value of $858,600.00.
• On Thursday, May 14th, Devesh Agarwal sold 8,251 shares of Bandwidth stock. The stock was sold at an average price of $52.11, for a total value of $429,959.61.
• On Wednesday, May 13th, Devesh Agarwal sold 11,749 shares of Bandwidth stock. The shares were sold at an average price of $52.14, for a total value of $612,592.86.

Bandwidth Price Performance

Shares of NASDAQ BAND traded up $5.92 during midday trading on Monday, hitting $70.89. The stock had a trading volume of 1,730,440 shares, compared to its average volume of 634,328. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.37. The stock has a 50 day simple moving average of $33.10 and a 200-day simple moving average of $21.01. The company has a market capitalization of $2.27 billion, a PE ratio of -186.55 and a beta of 2.93. Bandwidth Inc. has a 1 year low of $12.50 and a 1 year high of $71.76.

Bandwidth (NASDAQ:BAND - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.32 by $0.06. Bandwidth had a positive return on equity of 1.47% and a negative net margin of 0.64%.The firm had revenue of $208.78 million during the quarter, compared to analysts' expectations of $201.58 million. Bandwidth has set its FY 2026 guidance at 1.770-1.830 EPS and its Q2 2026 guidance at 0.350-0.370 EPS. On average, sell-side analysts expect that Bandwidth Inc. will post 0.55 EPS for the current fiscal year.

Analyst Ratings Changes

BAND has been the subject of a number of research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Bandwidth in a research report on Monday, April 20th. Citizens Jmp boosted their price target on shares of Bandwidth from $45.00 to $70.00 and gave the stock a "market outperform" rating in a research report on Friday, May 15th. Wall Street Zen cut shares of Bandwidth from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 16th. Citigroup reiterated an "outperform" rating on shares of Bandwidth in a report on Thursday, April 30th. Finally, B. Riley Financial raised their target price on shares of Bandwidth from $20.00 to $27.00 and gave the stock a "buy" rating in a research note on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $43.25.

Institutional Investors Weigh In On Bandwidth

Hedge funds have recently modified their holdings of the company. Empowered Funds LLC increased its position in Bandwidth by 9.9% during the first quarter. Empowered Funds LLC now owns 154,432 shares of the company's stock worth $2,752,000 after purchasing an additional 13,961 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in Bandwidth by 248.2% in the 1st quarter. Quantinno Capital Management LP now owns 76,836 shares of the company's stock valued at $1,369,000 after purchasing an additional 54,771 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Bandwidth by 4.2% in the 1st quarter. Renaissance Technologies LLC now owns 644,981 shares of the company's stock valued at $11,494,000 after purchasing an additional 26,081 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Bandwidth by 299.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 688,430 shares of the company's stock valued at $12,268,000 after buying an additional 516,117 shares during the period. Finally, Walleye Capital LLC purchased a new stake in shares of Bandwidth in the 1st quarter valued at approximately $1,069,000. Hedge funds and other institutional investors own 68.53% of the company's stock.

Bandwidth Company Profile

Bandwidth Inc operates a cloud-based communications platform that provides voice, messaging and emergency services APIs for enterprises and developers. Through its proprietary network and software-as-a-service model, the company enables customers to integrate programmable voice calls, text messaging and 9-1-1 routing into their applications. Bandwidth's solutions aim to reduce complexity and improve reliability in mission-critical communications, serving industries such as healthcare, financial services, on-demand mobility and customer engagement.

Founded in 1999 in Raleigh, North Carolina by co-founders David Morken and Henry Kaestner, Bandwidth initially focused on voice-over-IP infrastructure before evolving into a full communications API provider.

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