Mackenzie Financial Corp bought a new position in Bandwidth Inc. (NASDAQ:BAND - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 26,821 shares of the company's stock, valued at approximately $456,000. Mackenzie Financial Corp owned 0.10% of Bandwidth at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Covestor Ltd bought a new position in Bandwidth in the 4th quarter worth about $25,000. New Age Alpha Advisors LLC bought a new position in Bandwidth during the 4th quarter valued at about $50,000. SBI Securities Co. Ltd. bought a new position in Bandwidth during the 4th quarter valued at about $69,000. one8zero8 LLC bought a new position in Bandwidth during the 4th quarter valued at about $170,000. Finally, SG Americas Securities LLC lifted its stake in Bandwidth by 14.5% during the 4th quarter. SG Americas Securities LLC now owns 11,102 shares of the company's stock valued at $189,000 after acquiring an additional 1,407 shares during the period. Institutional investors own 68.53% of the company's stock.
Bandwidth Stock Performance
NASDAQ BAND traded up $0.72 on Friday, reaching $14.95. 356,518 shares of the stock were exchanged, compared to its average volume of 287,877. Bandwidth Inc. has a one year low of $11.33 and a one year high of $23.90. The firm has a market capitalization of $444.96 million, a PE ratio of -26.23 and a beta of 1.88. The company's 50-day simple moving average is $13.21 and its two-hundred day simple moving average is $15.88. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90.
Bandwidth (NASDAQ:BAND - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.36 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $174.24 million for the quarter, compared to analysts' expectations of $168.96 million. During the same quarter last year, the business earned $0.27 EPS. The firm's revenue was up 1.8% compared to the same quarter last year. Analysts expect that Bandwidth Inc. will post 0.22 EPS for the current fiscal year.
Insiders Place Their Bets
In other Bandwidth news, CFO Daryl Raiford sold 3,188 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $14.47, for a total transaction of $46,130.36. Following the completion of the sale, the chief financial officer now directly owns 119,707 shares of the company's stock, valued at $1,732,160.29. This trade represents a 2.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Richard Brandon Asbill sold 1,914 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $14.47, for a total transaction of $27,695.58. Following the sale, the general counsel now directly owns 47,014 shares of the company's stock, valued at approximately $680,292.58. This trade represents a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,676 shares of company stock worth $355,922. Company insiders own 6.50% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on BAND shares. JMP Securities restated a "market outperform" rating and set a $36.00 target price on shares of Bandwidth in a research note on Thursday, May 15th. Robert W. Baird cut their target price on shares of Bandwidth from $20.00 to $15.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. William Blair reaffirmed an "outperform" rating on shares of Bandwidth in a research report on Friday, February 21st. Needham & Company LLC assumed coverage on shares of Bandwidth in a research report on Wednesday, May 7th. They issued a "buy" rating and a $20.00 target price for the company. Finally, Morgan Stanley lowered their price objective on shares of Bandwidth from $18.00 to $11.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $20.80.
View Our Latest Report on Bandwidth
About Bandwidth
(
Free Report)
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.
Featured Stories
Before you consider Bandwidth, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bandwidth wasn't on the list.
While Bandwidth currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
