Jacobs Levy Equity Management Inc. Decreases Stock Position in Bandwidth Inc. (NASDAQ:BAND)

Jacobs Levy Equity Management Inc. cut its holdings in Bandwidth Inc. (NASDAQ:BAND - Free Report) by 10.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 518,607 shares of the company's stock after selling 61,198 shares during the period. Jacobs Levy Equity Management Inc. owned 1.89% of Bandwidth worth $8,827,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Covestor Ltd purchased a new stake in shares of Bandwidth during the fourth quarter worth $25,000. New Age Alpha Advisors LLC bought a new stake in shares of Bandwidth during the 4th quarter valued at $50,000. SBI Securities Co. Ltd. purchased a new stake in Bandwidth during the 4th quarter worth about $69,000. one8zero8 LLC purchased a new stake in Bandwidth during the 4th quarter worth about $170,000. Finally, SG Americas Securities LLC boosted its stake 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. 68.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BAND has been the topic of several analyst reports. Robert W. Baird decreased their price target on Bandwidth from $20.00 to $15.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. JMP Securities reaffirmed a "market outperform" rating and set a $36.00 target price on shares of Bandwidth in a report on Thursday. Morgan Stanley cut their price target on shares of Bandwidth from $18.00 to $11.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. William Blair restated an "outperform" rating on shares of Bandwidth in a research report on Friday, February 21st. Finally, Barclays decreased their price target on shares of Bandwidth from $25.00 to $22.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $20.80.

Insider Transactions at Bandwidth

In related news, insider Devin M. Krupka sold 3,770 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $15.70, for a total value of $59,189.00. Following the completion of the sale, the insider now owns 19,188 shares in the company, valued at $301,251.60. The trade was a 16.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Richard Brandon Asbill sold 5,629 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $15.70, for a total transaction of $88,375.30. Following the transaction, the general counsel now owns 57,475 shares in the company, valued at $902,357.50. The trade was a 8.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 63,721 shares of company stock worth $992,965. 6.50% of the stock is currently owned by corporate insiders.

Bandwidth Price Performance

BAND stock traded down $0.22 during midday trading on Monday, reaching $14.25. The company had a trading volume of 34,638 shares, compared to its average volume of 286,531. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.34 and a quick ratio of 1.34. Bandwidth Inc. has a 1 year low of $11.33 and a 1 year high of $23.90. The company has a market capitalization of $423.97 million, a P/E ratio of -24.92 and a beta of 1.88. The firm has a 50-day moving average price of $13.31 and a 200-day moving average price of $16.36.

Bandwidth (NASDAQ:BAND - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.36 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $168.96 million. During the same period in the previous year, the firm posted $0.27 EPS. The firm's revenue was up 1.8% compared to the same quarter last year. On average, research analysts anticipate that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.

Bandwidth 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.