Bandwidth Inc. (NASDAQ:BAND) Insider Sells $33,758.51 in Stock

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) insider Rebecca Bottorff sold 2,333 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $14.47, for a total transaction of $33,758.51. Following the transaction, the insider now owns 60,220 shares of the company's stock, valued at $871,383.40. The trade was a 3.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Bandwidth Stock Performance

Shares of BAND traded up $0.10 during trading hours on Tuesday, hitting $14.50. The company had a trading volume of 236,821 shares, compared to its average volume of 287,896. The firm has a market cap of $431.56 million, a price-to-earnings ratio of -25.44 and a beta of 1.88. The business has a fifty day moving average of $13.14 and a 200-day moving average of $15.95. Bandwidth Inc. has a 12 month low of $11.33 and a 12 month high of $23.90. 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 (NASDAQ:BAND - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.07. The company had revenue of $174.24 million for the quarter, compared to analyst estimates of $168.96 million. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. The company's revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 earnings per share. Equities analysts anticipate that Bandwidth Inc. will post 0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Bandwidth

Several large investors have recently modified their holdings of BAND. Covestor Ltd bought a new position in Bandwidth during the fourth quarter worth about $25,000. New Age Alpha Advisors LLC bought a new position in Bandwidth during the fourth quarter worth about $50,000. SBI Securities Co. Ltd. bought a new position in Bandwidth during the fourth quarter worth about $69,000. US Bancorp DE increased its position in Bandwidth by 11,281.3% during the first quarter. US Bancorp DE now owns 5,463 shares of the company's stock worth $72,000 after acquiring an additional 5,415 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new position in Bandwidth during the first quarter worth about $72,000. 68.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BAND. Barclays reduced their target price on shares of 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 target price on shares of Bandwidth in a report on Thursday, May 15th. Morgan Stanley reduced their target price 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. Needham & Company LLC initiated coverage on shares of Bandwidth in a research note on Wednesday, May 7th. They issued a "buy" rating and a $20.00 price target for the company. Finally, William Blair reiterated an "outperform" rating on shares of Bandwidth in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Bandwidth has an average rating of "Moderate Buy" and an average target price of $20.80.

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.