Bandwidth Inc. (NASDAQ:BAND - Get Free Report) insider Kade Ross sold 1,691 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $14.47, for a total value of $24,468.77. Following the completion of the transaction, the insider now owns 67,187 shares in the company, valued at approximately $972,195.89. The trade was a 2.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Bandwidth Stock Performance
NASDAQ:BAND traded up $0.10 during mid-day trading on Tuesday, reaching $14.50. 236,821 shares of the stock were exchanged, compared to its average volume of 287,896. The company has a 50 day simple moving average of $13.14 and a 200-day simple moving average of $15.95. The stock has a market capitalization of $431.56 million, a P/E ratio of -25.44 and a beta of 1.88. 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 1 year low of $11.33 and a 1 year high of $23.90.
Bandwidth (NASDAQ:BAND - Get Free Report) last posted its quarterly earnings data 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 positive return on equity of 0.53% and a negative net margin of 0.87%. The company had revenue of $174.24 million during the quarter, compared to analysts' expectations of $168.96 million. During the same period last year, the firm earned $0.27 EPS. The firm's revenue for the quarter was up 1.8% on a year-over-year basis. Analysts anticipate that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.
Institutional Trading of Bandwidth
A number of hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 acquiring an additional 608 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in shares of Bandwidth by 1.6% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 43,366 shares of the company's stock worth $738,000 after acquiring an additional 699 shares during the period. Rhumbline Advisers increased its stake in shares of Bandwidth by 3.7% during the first quarter. Rhumbline Advisers now owns 35,603 shares of the company's stock worth $466,000 after acquiring an additional 1,255 shares during the period. SG Americas Securities LLC increased its stake in shares of Bandwidth by 14.5% during the fourth quarter. SG Americas Securities LLC now owns 11,102 shares of the company's stock worth $189,000 after acquiring an additional 1,407 shares during the period. Finally, Covestor Ltd acquired a new position in shares of Bandwidth during the fourth quarter worth about $25,000. 68.53% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on BAND shares. Barclays dropped their price objective on Bandwidth from $25.00 to $22.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. William Blair reiterated an "outperform" rating on shares of Bandwidth in a report on Friday, February 21st. JMP Securities reiterated a "market outperform" rating and issued a $36.00 price objective on shares of Bandwidth in a report on Thursday, May 15th. Morgan Stanley dropped their price objective on Bandwidth from $18.00 to $11.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Finally, Robert W. Baird dropped their price objective on Bandwidth from $20.00 to $15.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. One 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 company currently has a consensus rating of "Moderate Buy" and an average price target of $20.80.
Get Our Latest Stock Analysis on Bandwidth
Bandwidth Company Profile
(
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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.
Further Reading
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