Insider Selling: Bandwidth Inc. (NASDAQ:BAND) COO Sells 2,132 Shares of Stock

Key Points

• Devesh Agarwal, COO of Bandwidth Inc., sold 2,132 shares of the company's stock for approximately $28,355.60, reducing his ownership by 3.28% to 62,927 shares.
• Bandwidth stock traded down to $13.10, with a market capitalization of $394.83 million and a negative price-to-earnings ratio of -38.53.
• Recent analyst ratings show mixed outlooks, with price targets ranging from $11.00 to $36.00, indicating varying opinions on the stock's potential performance.

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) COO Devesh Agarwal sold 2,132 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $13.30, for a total transaction of $28,355.60. Following the completion of the transaction, the chief operating officer directly owned 62,927 shares in the company, valued at $836,929.10. This trade represents a 3.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Devesh Agarwal also recently made the following trade(s):

• On Thursday, May 29th, Devesh Agarwal sold 1,804 shares of Bandwidth stock. The stock was sold at an average price of $14.47, for a total transaction of $26,103.88.

Bandwidth Stock Performance

Shares of Bandwidth stock traded down $0.27 during trading hours on Monday, hitting $13.10. 244,043 shares of the company's stock traded hands, compared to its average volume of 294,727. The stock has a market capitalization of $394.83 million, a price-to-earnings ratio of -38.53 and a beta of 1.80. Bandwidth Inc. has a 12-month low of $11.33 and a 12-month high of $23.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.31 and a quick ratio of 1.31. The company has a fifty day simple moving average of $14.83 and a 200-day simple moving average of $14.78.

Bandwidth (NASDAQ:BAND - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.06. The business had revenue of $180.01 million during the quarter, compared to the consensus estimate of $178.87 million. Bandwidth had a negative net margin of 1.32% and a positive return on equity of 1.43%. The firm's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.29 earnings per share. Equities research analysts anticipate that Bandwidth Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BAND shares. Morgan Stanley cut their price target on Bandwidth from $18.00 to $11.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. 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. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 target price on shares of Bandwidth in a report on Friday, June 13th. Finally, Robert W. Baird dropped their price target on shares of Bandwidth from $20.00 to $15.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $20.80.

Hedge Funds Weigh In On Bandwidth

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BAND. Covestor Ltd bought a new stake in shares of Bandwidth during the fourth quarter valued at about $25,000. US Bancorp DE boosted its position in shares of 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 acquiring an additional 5,415 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Bandwidth during the first quarter worth about $72,000. GAMMA Investing LLC grew its holdings in shares of Bandwidth by 16,036.6% during the first quarter. GAMMA Investing LLC now owns 6,616 shares of the company's stock worth $87,000 after purchasing an additional 6,575 shares in the last quarter. Finally, CWM LLC increased its position in shares of Bandwidth by 326.8% in the first quarter. CWM LLC now owns 7,460 shares of the company's stock worth $98,000 after purchasing an additional 5,712 shares during the last quarter. Institutional investors 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.

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