Bandwidth Inc. (NASDAQ:BAND) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in shares of Bandwidth Inc. (NASDAQ:BAND - Free Report) by 3.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,480,343 shares of the company's stock after purchasing an additional 43,411 shares during the quarter. Vanguard Group Inc. owned approximately 5.77% of Bandwidth worth $16,683,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Deutsche Bank AG increased its position in shares of Bandwidth by 13.5% during the third quarter. Deutsche Bank AG now owns 16,735 shares of the company's stock worth $189,000 after purchasing an additional 1,986 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Bandwidth during the 3rd quarter valued at about $243,000. Ameriprise Financial Inc. raised its stake in Bandwidth by 13.9% in the third quarter. Ameriprise Financial Inc. now owns 573,226 shares of the company's stock valued at $6,460,000 after buying an additional 70,156 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Bandwidth by 51.1% in the third quarter. AQR Capital Management LLC now owns 259,759 shares of the company's stock worth $2,927,000 after acquiring an additional 87,880 shares in the last quarter. Finally, B. Riley Asset Management LLC purchased a new stake in shares of Bandwidth during the third quarter worth about $682,000. Institutional investors own 68.53% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Barclays increased their price objective on shares of Bandwidth from $20.00 to $22.00 and gave the company an "overweight" rating in a research report on Thursday, February 29th. KeyCorp boosted their price objective on shares of Bandwidth from $16.00 to $21.00 and gave the company an "overweight" rating in a report on Thursday, February 29th. Finally, Canaccord Genuity Group raised their target price on Bandwidth from $36.00 to $38.00 and gave the stock a "buy" rating in a research note on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $19.71.

Insider Activity

In other news, COO Anthony Bartolo sold 7,798 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $18.75, for a total value of $146,212.50. Following the completion of the sale, the chief operating officer now owns 76,469 shares of the company's stock, valued at approximately $1,433,793.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 13,034 shares of company stock worth $245,788 in the last quarter. Corporate insiders own 5.80% of the company's stock.

Bandwidth Stock Performance

NASDAQ:BAND traded down $0.33 during mid-day trading on Monday, hitting $17.01. The company's stock had a trading volume of 271,990 shares, compared to its average volume of 361,244. The business's fifty day moving average is $16.96 and its two-hundred day moving average is $13.97. The stock has a market cap of $446.85 million, a price-to-earnings ratio of -16.20 and a beta of 1.49. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.06 and a quick ratio of 2.06. Bandwidth Inc. has a 1 year low of $9.34 and a 1 year high of $21.68.

Bandwidth (NASDAQ:BAND - Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). The firm had revenue of $165.00 million for the quarter, compared to analyst estimates of $154.17 million. Bandwidth had a negative net margin of 2.72% and a negative return on equity of 3.10%. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.04 EPS. Analysts anticipate that Bandwidth Inc. will post 0.19 EPS for the current fiscal year.

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.