Engineers Gate Manager LP Invests $2.22 Million in Bandwidth Inc. $BAND

Key Points

• Engineers Gate Manager LP acquired 35,043 Bandwidth shares worth approximately $2.22 million, representing about 0.11% of the company. Institutional investors and hedge funds collectively own 68.53% of Bandwidth.
• Analyst sentiment remains generally positive: five analysts rate the stock Buy and three rate it Hold, producing a consensus “Moderate Buy” rating and an average price target of $59.80.
• Bandwidth slightly exceeded quarterly expectations, reporting $0.37 in earnings per share versus the $0.36 estimate and $219.9 million in revenue, up 22.2% year over year. Meanwhile, insiders sold 23,550 shares worth about $1.15 million over the past 90 days.

Engineers Gate Manager LP purchased a new stake in shares of Bandwidth Inc. (NASDAQ:BAND - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,043 shares of the company's stock, valued at approximately $2,218,000. Engineers Gate Manager LP owned about 0.11% of Bandwidth at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. TD Waterhouse Canada Inc. acquired a new position in Bandwidth during the 2nd quarter worth $70,000. Integrated Wealth Concepts LLC bought a new position in Bandwidth in the 2nd quarter valued at $94,000. Corient Private Wealth LP acquired a new stake in shares of Bandwidth in the 2nd quarter valued at $238,000. Diversified Trust Co acquired a new stake in shares of Bandwidth in the 1st quarter valued at $184,000. Finally, IMC Chicago LLC bought a new stake in shares of Bandwidth during the first quarter worth $218,000. Institutional investors and hedge funds own 68.53% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. B. Riley Financial upped their price target on Bandwidth from $55.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, July 9th. Needham & Company LLC reiterated a "buy" rating on shares of Bandwidth in a research report on Thursday, August 20th. Weiss Ratings cut Bandwidth from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, August 27th. Wall Street Zen downgraded shares of Bandwidth from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 28th. Finally, Citigroup restated 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 three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $59.80.

Bandwidth Stock Performance

Shares of Bandwidth stock opened at $48.97 on Tuesday. The firm has a fifty day moving average of $54.40 and a two-hundred day moving average of $43.58. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -168.86 and a beta of 3.03. Bandwidth Inc. has a 52 week low of $12.50 and a 52 week high of $79.08. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.04 and a current ratio of 2.04.

Bandwidth (NASDAQ:BAND - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.01. Bandwidth had a return on equity of 1.85% and a net margin of 0.27%.The company had revenue of $219.90 million for the quarter, compared to the consensus estimate of $217.62 million. The business's revenue for the quarter was up 22.2% on a year-over-year basis. 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, equities research analysts predict that Bandwidth Inc. will post 0.65 EPS for the current year.

Insider Transactions at Bandwidth

In other news, insider Rebecca Bottorff sold 2,713 shares of the company's stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $49.15, for a total value of $133,343.95. Following the completion of the sale, the insider directly owned 10,704 shares of the company's stock, valued at $526,101.60. This represents a 20.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David A. Morken sold 5,128 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $49.15, for a total transaction of $252,041.20. Following the completion of the sale, the chief executive officer owned 6,702 shares in the company, valued at $329,403.30. This represents a 43.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 23,550 shares of company stock valued at $1,154,782. Corporate insiders own 5.26% of the company's stock.

Bandwidth Company Profile

Bandwidth Inc is a cloud communications company that provides application programming interfaces (APIs) and communications services for businesses, software developers and service providers. Its platform enables organizations to integrate voice calling, text messaging and other communications capabilities into applications, websites and business workflows.

The company's offerings include voice and messaging APIs, toll-free and local telephone numbers, emergency communications and 911 access, authentication and related communications tools.

Want to see what other hedge funds are holding BAND? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bandwidth Inc. (NASDAQ:BAND - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.