Insider Selling: Bandwidth Inc. (NASDAQ:BAND) CEO Sells 4,999 Shares of Stock

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) CEO David A. Morken sold 4,999 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $14.47, for a total value of $72,335.53. Following the sale, the chief executive officer now owns 6,964 shares in the company, valued at approximately $100,769.08. The trade was a 41.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Bandwidth Stock Performance

Shares of BAND stock traded up $0.10 on Tuesday, hitting $14.50. The company had a trading volume of 236,821 shares, compared to its average volume of 287,896. The firm has a market cap of $431.56 million, a P/E ratio of -25.44 and a beta of 1.88. The company has a 50-day moving average price of $13.14 and a 200-day moving average price of $15.95. 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 twelve month low of $11.33 and a twelve month high of $23.90.

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

Analyst Ratings Changes

BAND has been the topic of several research analyst reports. Needham & Company LLC initiated coverage on Bandwidth in a research note on Wednesday, May 7th. They set a "buy" rating and a $20.00 price target on the stock. JMP Securities reiterated a "market outperform" rating and set a $36.00 price target on shares of Bandwidth in a research note on Thursday, May 15th. William Blair reiterated an "outperform" rating on shares of Bandwidth in a research note on Friday, February 21st. Barclays dropped their price target on Bandwidth from $25.00 to $22.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Finally, Robert W. Baird dropped their price target on Bandwidth from $20.00 to $15.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $20.80.

Hedge Funds Weigh In On Bandwidth

Institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Bandwidth by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,185 shares of the company's stock worth $241,000 after purchasing an additional 608 shares during the period. Dynamic Technology Lab Private Ltd raised its holdings in Bandwidth by 1.6% in the 4th 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. Rhumbline Advisers raised its holdings in Bandwidth by 3.7% in the 1st quarter. Rhumbline Advisers now owns 35,603 shares of the company's stock worth $466,000 after purchasing an additional 1,255 shares during the period. SG Americas Securities LLC raised its holdings in Bandwidth by 14.5% in the 4th 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. Finally, Covestor Ltd acquired a new position in Bandwidth in the 4th quarter worth about $25,000. Institutional investors and hedge funds own 68.53% of the company's stock.

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.