Jane Street Group LLC Raises Stake in Bandwidth Inc. (NASDAQ:BAND)

Jane Street Group LLC raised its holdings in shares of Bandwidth Inc. (NASDAQ:BAND - Free Report) by 82.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,550 shares of the company's stock after acquiring an additional 29,127 shares during the period. Jane Street Group LLC owned about 0.23% of Bandwidth worth $1,099,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Bandwidth by 61.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 524,586 shares of the company's stock worth $8,928,000 after purchasing an additional 200,387 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Bandwidth by 88.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 285,559 shares of the company's stock worth $4,860,000 after buying an additional 133,715 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of 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 acquiring an additional 112,269 shares during the last quarter. Segall Bryant & Hamill LLC lifted its stake in shares of Bandwidth by 260.3% in the 4th quarter. Segall Bryant & Hamill LLC now owns 122,087 shares of the company's stock valued at $2,078,000 after acquiring an additional 88,198 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Bandwidth by 15.3% during the 4th quarter. Renaissance Technologies LLC now owns 651,300 shares of the company's stock valued at $11,085,000 after acquiring an additional 86,200 shares during the period. 68.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BAND has been the topic of a number of analyst reports. Needham & Company LLC began coverage on Bandwidth in a research note on Wednesday, May 7th. They issued a "buy" rating and a $20.00 price target on the stock. JMP Securities restated a "market outperform" rating and issued a $36.00 target price on shares of Bandwidth in a report on Thursday, May 15th. Robert W. Baird lowered their price target on shares of Bandwidth from $20.00 to $15.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Barclays dropped their price target on shares of Bandwidth from $25.00 to $22.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Finally, Morgan Stanley decreased their price objective on shares of Bandwidth from $18.00 to $11.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Bandwidth presently has an average rating of "Moderate Buy" and an average target price of $20.80.

Bandwidth Price Performance

BAND opened at $13.71 on Thursday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $408.05 million, a PE ratio of -24.05 and a beta of 1.88. The stock's 50 day moving average price is $13.26 and its 200-day moving average price is $16.29. Bandwidth Inc. has a 52-week low of $11.33 and a 52-week high of $23.90.

Bandwidth (NASDAQ:BAND - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. The business had revenue of $174.24 million during the quarter, compared to analyst estimates of $168.96 million. During the same period in the prior year, the business earned $0.27 EPS. The company's revenue for the quarter was up 1.8% on a year-over-year basis. On average, equities research analysts predict that Bandwidth Inc. will post 0.22 EPS for the current year.

Insiders Place Their Bets

In other Bandwidth news, COO Devesh Agarwal sold 6,538 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $15.70, for a total transaction of $102,646.60. Following the completion of the sale, the chief operating officer now directly owns 53,413 shares in the company, valued at approximately $838,584.10. The trade was a 10.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Richard Brandon Asbill sold 9,878 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $15.24, for a total value of $150,540.72. Following the transaction, the general counsel now directly owns 42,475 shares in the company, valued at $647,319. The trade was a 18.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,721 shares of company stock valued at $992,965. Insiders own 6.50% of the company's stock.

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.

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