Walleye Capital LLC Makes New Investment in Bandwidth Inc. $BAND

Key Points

• Walleye Capital LLC opened a new position in Bandwidth, buying 59,997 shares worth about $1.07 million in the first quarter and taking roughly 0.19% ownership.
• Other institutional investors also added to their Bandwidth holdings, and hedge funds and institutions now own about 68.53% of the company’s stock.
• Bandwidth reported better-than-expected quarterly results, with EPS of $0.38 versus a $0.32 estimate and revenue of $208.78 million topping forecasts; analysts currently rate the stock Moderate Buy with a consensus target of $61.75.

Walleye Capital LLC bought a new stake in Bandwidth Inc. (NASDAQ:BAND - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 59,997 shares of the company's stock, valued at approximately $1,069,000. Walleye Capital LLC owned about 0.19% of Bandwidth as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BAND. Deutsche Bank AG increased its stake in shares of Bandwidth by 6.0% during the fourth quarter. Deutsche Bank AG now owns 18,343 shares of the company's stock worth $283,000 after acquiring an additional 1,043 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in Bandwidth by 2.1% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 53,681 shares of the company's stock valued at $895,000 after buying an additional 1,129 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Bandwidth by 3.6% during the 4th quarter. Franklin Resources Inc. now owns 58,141 shares of the company's stock worth $898,000 after purchasing an additional 2,043 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Bandwidth by 8.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,896 shares of the company's stock valued at $462,000 after buying an additional 2,250 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Bandwidth by 183.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,776 shares of the company's stock valued at $60,000 after purchasing an additional 2,445 shares during the last quarter. Hedge funds and other institutional investors own 68.53% of the company's stock.

Wall Street Analysts Forecast Growth

BAND has been the topic of a number of recent research reports. Needham & Company LLC boosted their price objective on Bandwidth from $45.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, May 14th. Zacks Research lowered Bandwidth from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 3rd. Citigroup reissued a "market outperform" rating on shares of Bandwidth in a report on Monday. Citizens Jmp upped their price target on shares of Bandwidth from $70.00 to $86.00 and gave the stock a "market outperform" rating in a research report on Monday, July 20th. Finally, Wall Street Zen downgraded Bandwidth from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 28th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Bandwidth presently has an average rating of "Moderate Buy" and a consensus price target of $61.75.

Bandwidth Stock Performance

Shares of NASDAQ BAND opened at $59.80 on Friday. The business's 50-day moving average price is $62.60 and its two-hundred day moving average price is $34.63. Bandwidth Inc. has a one year low of $12.50 and a one year high of $79.08. The company has a market capitalization of $1.91 billion, a P/E ratio of -157.37 and a beta of 2.92. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.94 and a quick ratio of 0.94.

Bandwidth (NASDAQ:BAND - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.06. Bandwidth had a negative net margin of 0.64% and a positive return on equity of 1.47%. The company had revenue of $208.78 million for the quarter, compared to analyst estimates of $201.58 million. Bandwidth has set its FY 2026 guidance at 1.770-1.830 EPS and its Q2 2026 guidance at 0.350-0.370 EPS. Analysts anticipate that Bandwidth Inc. will post 0.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Devin M. Krupka sold 1,198 shares of the business's stock in a transaction on Friday, May 29th. The shares were sold at an average price of $58.85, for a total value of $70,502.30. Following the sale, the insider owned 26,371 shares of the company's stock, valued at $1,551,933.35. The trade was a 4.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Devesh Agarwal sold 4,066 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $58.85, for a total value of $239,284.10. Following the completion of the transaction, the chief operating officer owned 68,579 shares of the company's stock, valued at approximately $4,035,874.15. This represents a 5.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 127,269 shares of company stock valued at $7,192,523 in the last ninety days. 5.26% of the stock is currently owned by insiders.

Bandwidth Profile

Bandwidth Inc operates a cloud-based communications platform that provides voice, messaging and emergency services APIs for enterprises and developers. Through its proprietary network and software-as-a-service model, the company enables customers to integrate programmable voice calls, text messaging and 9-1-1 routing into their applications. Bandwidth's solutions aim to reduce complexity and improve reliability in mission-critical communications, serving industries such as healthcare, financial services, on-demand mobility and customer engagement.

Founded in 1999 in Raleigh, North Carolina by co-founders David Morken and Henry Kaestner, Bandwidth initially focused on voice-over-IP infrastructure before evolving into a full communications API provider.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.