Richard Brandon Asbill Sells 9,878 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) General Counsel Richard Brandon Asbill sold 9,878 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $15.24, for a total transaction of $150,540.72. Following the sale, the general counsel now owns 42,475 shares of the company’s stock, valued at approximately $647,319. The trade was a 18.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Richard Brandon Asbill also recently made the following trade(s):

• On Monday, March 3rd, Richard Brandon Asbill sold 5,629 shares of Bandwidth stock. The shares were sold at an average price of $15.70, for a total transaction of $88,375.30.
• On Tuesday, January 21st, Richard Brandon Asbill sold 499 shares of Bandwidth stock. The shares were sold at an average price of $16.01, for a total transaction of $7,988.99.
• On Monday, January 6th, Richard Brandon Asbill sold 822 shares of Bandwidth stock. The shares were sold at an average price of $17.39, for a total transaction of $14,294.58.

Bandwidth Stock Performance

BAND stock opened at $15.13 on Friday. The company has a market capitalization of $433.08 million, a P/E ratio of -26.54 and a beta of 1.57. The company has a 50-day simple moving average of $16.98 and a 200 day simple moving average of $17.84. Bandwidth Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $25.02. 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 quarterly earnings data on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.36). The company had revenue of $209.97 million during the quarter, compared to analyst estimates of $203.68 million. Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. During the same period in the previous year, the company earned $0.38 EPS. Sell-side analysts predict that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bandwidth

Institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC lifted its holdings in Bandwidth by 70.3% in the 3rd quarter. FMR LLC now owns 371,215 shares of the company’s stock valued at $6,500,000 after acquiring an additional 153,223 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Bandwidth in the 3rd quarter valued at about $747,000. Charles Schwab Investment Management Inc. lifted its holdings in Bandwidth by 38.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 267,367 shares of the company’s stock valued at $4,682,000 after acquiring an additional 73,795 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Bandwidth by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 568,667 shares of the company’s stock valued at $9,960,000 after acquiring an additional 19,832 shares during the last quarter. Finally, State Street Corp lifted its holdings in Bandwidth by 3.7% in the 3rd quarter. State Street Corp now owns 655,768 shares of the company’s stock valued at $11,482,000 after acquiring an additional 23,352 shares during the last quarter. 68.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BAND shares. Morgan Stanley upped their price target on shares of Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th. William Blair restated an “outperform” rating on shares of Bandwidth in a research report on Friday, February 21st. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research report on Friday, February 21st. Finally, Barclays lowered their price target on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.33.

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.