Bandwidth Inc. (NASDAQ:BAND) CEO David A. Morken Sells 13,653 Shares of Stock

Bandwidth Inc. (NASDAQ:BAND) CEO David A. Morken sold 13,653 shares of the firm’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 transaction of $214,352.10. Following the sale, the chief executive officer now directly owns 142,439 shares of the company’s stock, valued at $2,236,292.30. The trade was a 8.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Bandwidth Price Performance

Shares of NASDAQ:BAND opened at $15.17 on Wednesday. The company has a market cap of $434.23 million, a PE ratio of -26.61 and a beta of 1.57. Bandwidth Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $25.02. The firm has a 50-day simple moving average of $17.17 and a 200 day simple moving average of $17.90. 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) last posted its earnings results on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.36). The company had revenue of $209.97 million for the quarter, compared to the consensus estimate of $203.68 million. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. During the same period last year, the company posted $0.38 earnings per share. On average, sell-side analysts anticipate that Bandwidth Inc. will post 0.22 EPS for the current year.

Institutional Investors Weigh In On Bandwidth

Several large investors have recently added to or reduced their stakes in BAND. Mackenzie Financial Corp bought a new stake in Bandwidth in the fourth quarter valued at $456,000. Squarepoint Ops LLC increased its holdings in shares of Bandwidth by 49.8% in the 4th quarter. Squarepoint Ops LLC now owns 44,355 shares of the company’s stock worth $755,000 after acquiring an additional 14,754 shares during the period. Two Sigma Investments LP lifted its position in Bandwidth by 8.9% in the 4th quarter. Two Sigma Investments LP now owns 108,338 shares of the company’s stock valued at $1,844,000 after purchasing an additional 8,813 shares during the last quarter. Millennium Management LLC boosted its stake in Bandwidth by 213.5% during the 4th quarter. Millennium Management LLC now owns 136,442 shares of the company’s stock valued at $2,322,000 after purchasing an additional 92,915 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Bandwidth by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,185 shares of the company’s stock valued at $241,000 after purchasing an additional 608 shares during the period. 68.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on BAND shares. Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a research note on Friday, February 21st. William Blair reaffirmed an “outperform” rating on shares of Bandwidth in a research report on Friday, February 21st. Morgan Stanley lifted their price target on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th. Finally, Barclays cut their price objective on Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $28.33.

About Bandwidth

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.