Assenagon Asset Management S.A. Sells 228,266 Shares of Bandwidth Inc. $BAND

Key Points

• Assenagon Asset Management reduced its Bandwidth stake by 46.4%, selling 228,266 shares and retaining 263,607 shares valued at approximately $16.7 million. Institutional investors collectively own 68.53% of BAND.
• Bandwidth reported quarterly revenue of $219.9 million, up 22.2% year over year, and adjusted earnings of $0.37 per share, slightly exceeding analyst expectations. The company issued third-quarter EPS guidance of $0.45–$0.49.
• Analyst sentiment remains positive, with five Buy ratings and two Holds, producing a consensus “Moderate Buy” rating and an average price target of $61.75, although insiders have sold 87,844 shares worth about $5.4 million over the past three months.

Assenagon Asset Management S.A. cut its holdings in shares of Bandwidth Inc. (NASDAQ:BAND - Free Report) by 46.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 263,607 shares of the company's stock after selling 228,266 shares during the period. Assenagon Asset Management S.A. owned 0.82% of Bandwidth worth $16,686,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BAND. Empowered Funds LLC boosted its holdings in Bandwidth by 9.9% in the first quarter. Empowered Funds LLC now owns 154,432 shares of the company's stock valued at $2,752,000 after acquiring an additional 13,961 shares in the last quarter. Quantinno Capital Management LP raised 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 worth $1,369,000 after purchasing an additional 54,771 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Bandwidth by 4.2% in the 1st quarter. Renaissance Technologies LLC now owns 644,981 shares of the company's stock worth $11,494,000 after purchasing an additional 26,081 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position 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 worth $12,268,000 after purchasing an additional 516,117 shares during the period. Finally, Walleye Capital LLC bought a new stake in shares of Bandwidth during the 1st quarter valued at about $1,069,000. Institutional investors own 68.53% of the company's stock.

Bandwidth Stock Up 5.5%

Shares of Bandwidth stock opened at $52.71 on Tuesday. Bandwidth Inc. has a 1 year low of $12.50 and a 1 year high of $79.08. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -181.76 and a beta of 2.96. The company has a 50-day moving average of $59.55 and a 200 day moving average of $37.27. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.04 and a quick ratio of 2.04.

Bandwidth (NASDAQ:BAND - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. Bandwidth had a net margin of 0.27% and a return on equity of 1.85%. The business had revenue of $219.90 million for the quarter, compared to analyst estimates of $217.62 million. The company's revenue was up 22.2% compared to the same quarter last year. Bandwidth has set its Q3 2026 guidance at 0.450-0.490 EPS and its FY 2026 guidance at 1.710-1.790 EPS. As a group, sell-side analysts anticipate that Bandwidth Inc. will post 0.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BAND shares. Weiss Ratings upgraded shares of Bandwidth from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Friday, July 31st. Zacks Research lowered shares of Bandwidth from a "strong-buy" rating to a "hold" rating in a report on Friday, July 3rd. Wall Street Zen cut Bandwidth from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 28th. Needham & Company LLC upped their target price on Bandwidth from $45.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, May 14th. Finally, Citigroup reissued a "market outperform" rating on shares of Bandwidth in a research report on Monday, July 20th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $61.75.

Insider Buying and Selling

In other Bandwidth news, insider Rebecca Bottorff sold 2,176 shares of Bandwidth stock in a transaction on Friday, May 29th. The stock was sold at an average price of $58.85, for a total transaction of $128,057.60. Following the completion of the transaction, the insider owned 5,620 shares in the company, valued at approximately $330,737. The trade was a 27.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daryl E. Raiford sold 4,228 shares of the business's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $64.15, for a total value of $271,226.20. Following the completion of the sale, the chief financial officer directly owned 42,919 shares in the company, valued at $2,753,253.85. This trade represents a 8.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 87,844 shares of company stock worth $5,418,471 over the last three months. Corporate insiders own 5.26% 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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