Jane Street Group LLC Buys 29,127 Shares of Bandwidth Inc. (NASDAQ:BAND)

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

A number of other institutional investors also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Bandwidth by 1.6% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 43,366 shares of the company's stock worth $738,000 after purchasing an additional 699 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Bandwidth by 14.5% during the fourth quarter. SG Americas Securities LLC now owns 11,102 shares of the company's stock worth $189,000 after purchasing an additional 1,407 shares during the period. Covestor Ltd purchased a new stake in shares of Bandwidth during the fourth quarter worth about $25,000. Price T Rowe Associates Inc. MD boosted 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 period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Bandwidth by 2.2% during the fourth quarter. Bank of New York Mellon Corp now owns 83,175 shares of the company's stock worth $1,416,000 after purchasing an additional 1,811 shares during the period. 68.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, General Counsel Richard Brandon Asbill sold 9,878 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $15.24, for a total value of $150,540.72. Following the completion of the sale, the general counsel now directly owns 42,475 shares in the company, valued at $647,319. This represents a 18.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Devesh Agarwal sold 6,538 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.70, for a total value of $102,646.60. Following the completion of the sale, the chief operating officer now owns 53,413 shares of the company's stock, valued at $838,584.10. The trade was a 10.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,721 shares of company stock valued at $992,965. Company insiders own 6.50% of the company's stock.

Bandwidth Stock Up 5.1%

Shares of NASDAQ BAND traded up $0.71 on Tuesday, reaching $14.51. 265,282 shares of the company's stock traded hands, compared to its average volume of 287,565. Bandwidth Inc. has a 12 month low of $11.33 and a 12 month high of $23.90. The business's 50 day simple moving average is $13.19 and its two-hundred day simple moving average is $16.12. The company has a market cap of $431.86 million, a price-to-earnings ratio of -25.46 and a beta of 1.88. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.90.

Bandwidth (NASDAQ:BAND - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.07. The company had revenue of $174.24 million during the quarter, compared to the consensus estimate of $168.96 million. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. The firm's quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share. As a group, equities research analysts forecast that Bandwidth Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BAND has been the subject of a number of analyst reports. Barclays dropped their target price on shares of Bandwidth from $25.00 to $22.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Morgan Stanley dropped their target price on shares of Bandwidth from $18.00 to $11.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Robert W. Baird lowered their price objective 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. Needham & Company LLC initiated coverage on shares of Bandwidth in a report on Wednesday, May 7th. They issued a "buy" rating and a $20.00 price objective for the company. Finally, JMP Securities restated a "market outperform" rating and issued a $36.00 price objective on shares of Bandwidth in a report on Thursday, May 15th. One equities 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 has an average rating of "Moderate Buy" and a consensus target price of $20.80.

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.