Nuveen Asset Management LLC Reduces Holdings in Bandwidth Inc. (NASDAQ:BAND)

Nuveen Asset Management LLC decreased its stake in shares of Bandwidth Inc. (NASDAQ:BAND - Free Report) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 594,278 shares of the company's stock after selling 18,297 shares during the period. Nuveen Asset Management LLC owned approximately 2.16% of Bandwidth worth $10,115,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BAND. Charles Schwab Investment Management Inc. grew its position in shares of Bandwidth by 12.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 300,076 shares of the company's stock valued at $5,107,000 after acquiring an additional 32,709 shares during the period. Versor Investments LP raised its stake in Bandwidth by 136.1% in the 4th quarter. Versor Investments LP now owns 27,757 shares of the company's stock worth $472,000 after purchasing an additional 16,000 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new position in shares of Bandwidth in the 4th quarter valued at approximately $384,000. Vanguard Group Inc. raised its position in shares of Bandwidth by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 1,769,027 shares of the company's stock valued at $30,109,000 after buying an additional 73,623 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Bandwidth by 9.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company's stock valued at $21,260,000 after purchasing an additional 112,269 shares during the last quarter. Institutional investors own 68.53% of the company's stock.

Wall Street Analysts Forecast Growth

BAND has been the topic of a number of research reports. Needham & Company LLC initiated coverage on shares of Bandwidth in a report on Wednesday, May 7th. They set a "buy" rating and a $20.00 target price on the stock. Robert W. Baird dropped their price target on shares of Bandwidth from $20.00 to $15.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Barclays dropped their target price on shares of Bandwidth from $25.00 to $22.00 and set an "overweight" rating on the stock in a research 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 on the stock in a research report on Wednesday, April 16th. Finally, JMP Securities restated a "market outperform" rating and set a $36.00 price objective on shares of Bandwidth in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Bandwidth currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.80.

Bandwidth Stock Performance

BAND traded down $0.33 during trading on Thursday, hitting $14.41. 183,719 shares of the company traded hands, compared to its average volume of 287,675. The firm has a market cap of $428.88 million, a P/E ratio of -25.28 and a beta of 1.88. The stock's fifty day moving average is $13.16 and its 200 day moving average is $16.07. 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 Inc. has a one year low of $11.33 and a one year high of $23.90.

Bandwidth (NASDAQ:BAND - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.36 earnings per share 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 firm had revenue of $174.24 million during the quarter, compared to analyst estimates of $168.96 million. During the same quarter last year, the business earned $0.27 earnings per share. The company's quarterly revenue was up 1.8% on a year-over-year basis. As a group, equities analysts predict that Bandwidth Inc. will post 0.22 EPS for the current fiscal year.

Insider Activity at Bandwidth

In other Bandwidth news, General Counsel Richard Brandon Asbill sold 5,629 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 $88,375.30. Following the transaction, the general counsel now directly owns 57,475 shares of the company's stock, valued at approximately $902,357.50. The trade was a 8.92% 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, insider Devin M. Krupka sold 3,770 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 $59,189.00. Following the transaction, the insider now directly owns 19,188 shares in the company, valued at approximately $301,251.60. The trade was a 16.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,721 shares of company stock valued at $992,965 over the last three months. 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.