37,812 Shares in Bandwidth Inc. (NASDAQ:BAND) Bought by XTX Topco Ltd

XTX Topco Ltd bought a new position in shares of Bandwidth Inc. (NASDAQ:BAND - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 37,812 shares of the company's stock, valued at approximately $495,000. XTX Topco Ltd owned 0.13% of Bandwidth at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in Bandwidth by 53.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 21,876 shares of the company's stock valued at $287,000 after buying an additional 7,661 shares during the period. CWM LLC increased its holdings in Bandwidth by 326.8% in the 1st quarter. CWM LLC now owns 7,460 shares of the company's stock valued at $98,000 after buying an additional 5,712 shares during the period. Vanguard Group Inc. increased its holdings in Bandwidth by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 1,769,027 shares of the company's stock valued at $30,109,000 after buying an additional 73,623 shares during the period. Two Sigma Investments LP increased its holdings in Bandwidth by 8.9% in the 4th quarter. Two Sigma Investments LP now owns 108,338 shares of the company's stock valued at $1,844,000 after buying an additional 8,813 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Bandwidth by 9.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company's stock valued at $21,260,000 after buying an additional 112,269 shares during the period. Institutional investors own 68.53% of the company's stock.

Analysts Set New Price Targets

BAND has been the topic of several analyst reports. JMP Securities reissued a "market outperform" rating and issued a $36.00 price target on shares of Bandwidth in a report on Thursday, May 15th. Morgan Stanley lowered their price target on shares of Bandwidth from $18.00 to $11.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Needham & Company LLC reissued a "buy" rating and issued a $20.00 price target on shares of Bandwidth in a report on Friday, June 13th. Finally, Robert W. Baird lowered their price target on shares of Bandwidth from $20.00 to $15.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Bandwidth has an average rating of "Moderate Buy" and an average price target of $20.80.

Bandwidth Stock Down 0.8%

BAND opened at $13.62 on Friday. The firm's 50-day simple moving average is $14.87 and its 200-day simple moving average is $14.85. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.31 and a current ratio of 1.31. Bandwidth Inc. has a twelve month low of $11.33 and a twelve month high of $23.00. The firm has a market cap of $405.33 million, a price-to-earnings ratio of -40.06 and a beta of 1.80.

Bandwidth (NASDAQ:BAND - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.06. Bandwidth had a negative net margin of 1.32% and a positive return on equity of 1.43%. The business had revenue of $180.01 million for the quarter, compared to analyst estimates of $178.87 million. During the same quarter in the prior year, the firm earned $0.29 EPS. The firm's quarterly revenue was up 3.4% compared to the same quarter last year. Equities research analysts anticipate that Bandwidth Inc. will post 0.22 EPS for the current fiscal year.

Insider Buying and Selling at Bandwidth

In related news, CFO Daryl Raiford sold 3,188 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $14.47, for a total transaction of $46,130.36. Following the transaction, the chief financial officer owned 119,707 shares in the company, valued at $1,732,160.29. This represents a 2.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Richard Brandon Asbill sold 1,914 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $14.47, for a total transaction of $27,695.58. Following the transaction, the general counsel owned 47,014 shares in the company, valued at approximately $680,292.58. This trade represents a 3.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,596 shares of company stock worth $658,682 over the last quarter. Corporate insiders own 6.50% 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.

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