Bandwidth Inc. (NASDAQ:BAND) Shares Acquired by Barclays PLC

Barclays PLC lifted its stake in shares of Bandwidth Inc. (NASDAQ:BAND) by 9.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 224,497 shares of the company’s stock after acquiring an additional 18,778 shares during the quarter. Barclays PLC’s holdings in Bandwidth were worth $3,931,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of BAND. Innealta Capital LLC purchased a new position in shares of Bandwidth in the 2nd quarter valued at about $30,000. nVerses Capital LLC raised its holdings in Bandwidth by 80.0% in the third quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $32,000 after acquiring an additional 800 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new stake in Bandwidth in the second quarter valued at approximately $35,000. Quarry LP grew its holdings in Bandwidth by 157.6% during the 3rd quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after acquiring an additional 1,245 shares in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in Bandwidth during the 2nd quarter worth approximately $57,000. 68.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Bandwidth

In other Bandwidth news, General Counsel Richard Brandon Asbill sold 5,561 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $21.26, for a total transaction of $118,226.86. Following the sale, the general counsel now directly owns 41,825 shares in the company, valued at approximately $889,199.50. The trade was a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daryl Raiford sold 4,371 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $20.70, for a total transaction of $90,479.70. Following the completion of the sale, the chief financial officer now directly owns 93,451 shares in the company, valued at approximately $1,934,435.70. The trade was a 4.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 44,733 shares of company stock valued at $948,310. Corporate insiders own 6.20% of the company’s stock.

Bandwidth Price Performance

Shares of NASDAQ BAND opened at $18.12 on Monday. The stock has a market cap of $498.48 million, a P/E ratio of -19.48 and a beta of 1.51. Bandwidth Inc. has a twelve month low of $11.90 and a twelve month high of $25.02. The stock has a 50 day moving average of $19.26 and a two-hundred day moving average of $18.15. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.83.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. The company had revenue of $193.90 million during the quarter, compared to analysts’ expectations of $182.05 million. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The firm’s revenue for the quarter was up 27.6% on a year-over-year basis. During the same period last year, the firm earned $0.03 EPS. On average, research analysts forecast that Bandwidth Inc. will post 0.08 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Robert W. Baird increased their target price on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, November 1st. JMP Securities reissued a “market outperform” rating and set a $36.00 target price on shares of Bandwidth in a research report on Tuesday, August 27th. Morgan Stanley boosted their target price on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $28.83.

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.