Daryl Raiford Sells 3,188 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) CFO Daryl Raiford sold 3,188 shares of Bandwidth stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $14.47, for a total transaction of $46,130.36. Following the sale, the chief financial officer now directly owns 119,707 shares of the company's stock, valued at $1,732,160.29. The trade was a 2.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Daryl Raiford also recently made the following trade(s):

• On Monday, June 2nd, Daryl Raiford sold 2,630 shares of Bandwidth stock. The stock was sold at an average price of $14.40, for a total transaction of $37,872.00.
• On Friday, May 30th, Daryl Raiford sold 2,655 shares of Bandwidth stock. The shares were sold at an average price of $14.11, for a total transaction of $37,462.05.
• On Thursday, May 29th, Daryl Raiford sold 2,233 shares of Bandwidth stock. The shares were sold at an average price of $14.47, for a total transaction of $32,311.51.

Bandwidth Trading Up 5.1%

Shares of NASDAQ:BAND traded up $0.72 during trading on Friday, reaching $14.95. The stock had a trading volume of 356,518 shares, compared to its average volume of 287,877. The stock has a market cap of $444.96 million, a price-to-earnings ratio of -26.23 and a beta of 1.88. Bandwidth Inc. has a 52 week low of $11.33 and a 52 week high of $23.90. The firm's fifty day moving average is $13.21 and its 200 day moving average is $15.88. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.34 and a current ratio of 1.34.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Barclays dropped their target price on shares of Bandwidth from $25.00 to $22.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. William Blair reiterated an "outperform" rating on shares of Bandwidth in a research report on Friday, February 21st. JMP Securities reiterated a "market outperform" rating and set a $36.00 price objective on shares of Bandwidth in a research report on Thursday, May 15th. Morgan Stanley decreased their price target on shares of Bandwidth from $18.00 to $11.00 and set an "underweight" rating for the company in a research report on Wednesday, April 16th. Finally, Needham & Company LLC started coverage on shares of Bandwidth in a research report on Wednesday, May 7th. They issued a "buy" rating and a $20.00 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bandwidth currently has a consensus rating of "Moderate Buy" and an average target price of $20.80.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Bandwidth by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,185 shares of the company's stock worth $241,000 after buying an additional 608 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its stake in shares of Bandwidth by 1.6% in the fourth 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 in the last quarter. Rhumbline Advisers increased its stake in shares of Bandwidth by 3.7% in the first quarter. Rhumbline Advisers now owns 35,603 shares of the company's stock worth $466,000 after purchasing an additional 1,255 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Bandwidth by 14.5% in the fourth 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 in the last quarter. Finally, Covestor Ltd purchased a new position in shares of Bandwidth in the fourth quarter worth about $25,000. Institutional investors and hedge funds own 68.53% of the company's stock.

Bandwidth Company 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.