Palogic Value Management L.P. Has $2.88 Million Stake in Bandwidth Inc. $BAND

Key Points

• Palogic Value Management L.P. increased its position in Bandwidth Inc. by 10.0%, now holding 220,000 shares valued at approximately $2.88 million.
• Several institutional investors have significantly raised their stakes, including US Bancorp DE with an increase of 11,281.3%.
• Bandwidth's stock is currently trading at $15.70, with brokerages projecting a moderate buy rating and an average target price of $20.80.

Palogic Value Management L.P. raised its position in Bandwidth Inc. (NASDAQ:BAND - Free Report) by 10.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 220,000 shares of the company's stock after purchasing an additional 20,000 shares during the quarter. Bandwidth accounts for approximately 1.2% of Palogic Value Management L.P.'s holdings, making the stock its 26th largest holding. Palogic Value Management L.P. owned 0.74% of Bandwidth worth $2,882,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of BAND. Price T Rowe Associates Inc. MD raised its stake in shares of Bandwidth by 10.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,182 shares of the company's stock valued at $293,000 after purchasing an additional 1,658 shares during the period. Northern Trust Corp raised its stake in shares of Bandwidth by 2.9% in the 4th quarter. Northern Trust Corp now owns 232,725 shares of the company's stock valued at $3,961,000 after purchasing an additional 6,459 shares during the period. Jane Street Group LLC raised its stake in shares of Bandwidth by 82.2% in the 4th quarter. Jane Street Group LLC now owns 64,550 shares of the company's stock valued at $1,099,000 after purchasing an additional 29,127 shares during the period. Algert Global LLC raised its stake in shares of Bandwidth by 10.4% in the 4th quarter. Algert Global LLC now owns 18,280 shares of the company's stock valued at $311,000 after purchasing an additional 1,720 shares during the period. Finally, Balyasny Asset Management L.P. raised its stake in shares of Bandwidth by 113.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 46,066 shares of the company's stock valued at $784,000 after purchasing an additional 24,508 shares during the period. Institutional investors and hedge funds own 68.53% of the company's stock.

Insider Transactions at Bandwidth

In other news, General Counsel Richard Brandon Asbill sold 1,852 shares of the business's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $15.09, for a total transaction of $27,946.68. Following the completion of the sale, the general counsel owned 51,617 shares in the company, valued at $778,900.53. The trade was a 3.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Daryl Raiford sold 14,143 shares of the business's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $15.47, for a total value of $218,792.21. Following the sale, the chief financial officer owned 90,395 shares of the company's stock, valued at approximately $1,398,410.65. This represents a 13.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,911 shares of company stock worth $1,010,613 over the last quarter. Company insiders own 6.50% of the company's stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC restated a "buy" rating and issued a $20.00 price objective on shares of Bandwidth in a report on Friday, June 13th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Bandwidth has a consensus rating of "Moderate Buy" and an average target price of $20.80.

Bandwidth Stock Performance

Bandwidth stock traded up $0.01 during midday trading on Friday, reaching $16.41. 314,602 shares of the company's stock were exchanged, compared to its average volume of 222,066. Bandwidth Inc. has a 52 week low of $11.33 and a 52 week high of $23.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.31 and a current ratio of 1.31. The firm has a market cap of $494.61 million, a price-to-earnings ratio of -48.26 and a beta of 1.81. The stock's 50-day simple moving average is $14.89 and its 200 day simple moving average is $14.29.

Bandwidth (NASDAQ:BAND - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.06. Bandwidth had a positive return on equity of 1.43% and a negative net margin of 1.32%.The business had revenue of $180.01 million during the quarter, compared to analysts' expectations of $178.87 million. During the same quarter last year, the company posted $0.29 earnings per share. Bandwidth's quarterly revenue was up 3.4% on a year-over-year basis. Bandwidth has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, analysts expect that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.

About Bandwidth

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.