Insider Selling: Bandwidth Inc. (NASDAQ:BAND) CFO Sells 3,188 Shares of Stock

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

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

Bandwidth Trading Down 1.3%

BAND stock traded down $0.19 during midday trading on Thursday, hitting $14.23. The stock had a trading volume of 221,700 shares, compared to its average volume of 286,993. The firm has a market cap of $423.53 million, a P/E ratio of -24.96 and a beta of 1.88. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90. Bandwidth Inc. has a 1-year low of $11.33 and a 1-year high of $23.90. The business has a fifty day moving average price of $13.16 and a two-hundred day moving average price of $15.94.

Bandwidth (NASDAQ:BAND - Get Free Report) last posted 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 company had revenue of $174.24 million for the quarter, compared to analyst estimates of $168.96 million. During the same quarter in the prior year, the business posted $0.27 EPS. The firm's revenue was up 1.8% compared to the same quarter last year. On average, sell-side analysts predict that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Covestor Ltd purchased a new stake in Bandwidth in the 4th quarter worth approximately $25,000. New Age Alpha Advisors LLC purchased a new position in shares of Bandwidth in the fourth quarter valued at about $50,000. SBI Securities Co. Ltd. purchased a new position in Bandwidth during the 4th quarter valued at about $69,000. US Bancorp DE increased its holdings in Bandwidth by 11,281.3% during the 1st quarter. US Bancorp DE now owns 5,463 shares of the company's stock valued at $72,000 after purchasing an additional 5,415 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Bandwidth during the first quarter valued at about $72,000. 68.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BAND shares. Needham & Company LLC started coverage on Bandwidth in a research note on Wednesday, May 7th. They issued a "buy" rating and a $20.00 price target on the stock. Barclays lowered their target price on Bandwidth from $25.00 to $22.00 and set an "overweight" rating for the company in a report on Friday, February 21st. JMP Securities restated a "market outperform" rating and set a $36.00 price objective on shares of Bandwidth in a research note on Thursday, May 15th. Robert W. Baird reduced their price objective on shares of Bandwidth from $20.00 to $15.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Finally, Morgan Stanley cut their target price on shares of Bandwidth from $18.00 to $11.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. One 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. According to MarketBeat.com, Bandwidth currently has a consensus rating of "Moderate Buy" and an average target price of $20.80.

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.