Acadian Asset Management LLC Decreases Holdings in Bandwidth Inc. $BAND

Key Points

• Acadian Asset Management LLC reduced its stake in Bandwidth Inc. by 7.2%, selling 58,652 shares, leaving them with approximately 760,823 shares valued at about $9.96 million.
• Bands' shares opened at $16.41 and have a 52-week range between $11.33 and $23.00, with a market capitalization of $494.61 million.
• Analysts rate Bandwidth with a consensus of Moderate Buy and set a target price of around $20.80, with the latest quarterly earnings showing a revenue increase of 3.4% year-over-year.

Acadian Asset Management LLC decreased its position in shares of Bandwidth Inc. (NASDAQ:BAND - Free Report) by 7.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 760,823 shares of the company's stock after selling 58,652 shares during the quarter. Acadian Asset Management LLC owned approximately 2.56% of Bandwidth worth $9,964,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Bandwidth by 53.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 21,876 shares of the company's stock worth $287,000 after purchasing an additional 7,661 shares during the last quarter. CWM LLC grew its holdings in shares of Bandwidth by 326.8% during the first quarter. CWM LLC now owns 7,460 shares of the company's stock worth $98,000 after purchasing an additional 5,712 shares during the last quarter. Two Sigma Investments LP grew its holdings in shares of Bandwidth by 8.9% during the fourth quarter. Two Sigma Investments LP now owns 108,338 shares of the company's stock worth $1,844,000 after purchasing an additional 8,813 shares during the last quarter. Nuveen LLC purchased a new position in shares of Bandwidth during the first quarter worth about $7,916,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Bandwidth by 10.7% during 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 during the last quarter. Hedge funds and other institutional investors own 68.53% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on BAND. Wedbush reiterated an "outperform" rating on shares of Bandwidth in a research note on Wednesday. Needham & Company LLC reissued a "buy" rating and set a $20.00 price target on shares of Bandwidth in a report on Friday, June 13th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $20.80.

Bandwidth Stock Performance

Shares of NASDAQ BAND traded down $0.16 during midday trading on Thursday, reaching $18.13. 116,567 shares of the company were exchanged, compared to its average volume of 288,078. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.64. Bandwidth Inc. has a 1 year low of $11.33 and a 1 year high of $23.00. The stock has a fifty day simple moving average of $14.97 and a 200 day simple moving average of $14.33. The stock has a market cap of $546.32 million, a P/E ratio of -53.29 and a beta of 1.81.

Bandwidth (NASDAQ:BAND - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.06. Bandwidth had a positive return on equity of 1.43% and a negative net margin of 1.32%.The firm had revenue of $180.01 million for the quarter, compared to analyst estimates of $178.87 million. During the same quarter last year, the company posted $0.29 earnings per share. The business's revenue was up 3.4% on a year-over-year basis. Bandwidth has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, research analysts forecast that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Bandwidth

In other Bandwidth news, CFO Daryl Raiford sold 14,143 shares of Bandwidth stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $15.47, for a total value of $218,792.21. Following the sale, the chief financial officer owned 90,395 shares of the company's stock, valued at approximately $1,398,410.65. The trade was a 13.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Richard Brandon Asbill sold 1,852 shares of Bandwidth stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $15.09, for a total value of $27,946.68. Following the completion of the sale, the general counsel directly owned 51,617 shares in the company, valued at $778,900.53. This represents a 3.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,911 shares of company stock valued at $1,010,613. 6.50% of the stock is owned by corporate insiders.

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.