Kade Ross Sells 3,500 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) insider Kade Ross sold 3,500 shares of Bandwidth stock in a transaction on Friday, June 28th. The shares were sold at an average price of $16.92, for a total transaction of $59,220.00. Following the completion of the sale, the insider now owns 23,322 shares of the company’s stock, valued at approximately $394,608.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Kade Ross also recently made the following trade(s):

• On Tuesday, May 14th, Kade Ross sold 68 shares of Bandwidth stock. The shares were sold at an average price of $22.15, for a total transaction of $1,506.20.

Bandwidth Stock Performance

NASDAQ BAND opened at $16.53 on Wednesday. The firm has a market cap of $446.48 million, a price-to-earnings ratio of -14.76 and a beta of 1.48. The company has a fifty day moving average price of $19.25 and a 200-day moving average price of $17.03. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.36 and a quick ratio of 2.36. Bandwidth Inc. has a 1 year low of $9.34 and a 1 year high of $25.02.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.08). The company had revenue of $171.03 million for the quarter, compared to the consensus estimate of $165.10 million. Bandwidth had a negative net margin of 4.60% and a negative return on equity of 2.49%. As a group, equities research analysts predict that Bandwidth Inc. will post 0.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BAND. Barclays lifted their price objective on shares of Bandwidth from $22.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research report on Friday, May 10th. JMP Securities lifted their price target on shares of Bandwidth from $32.00 to $36.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 8th. Morgan Stanley downgraded shares of Bandwidth from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $18.00 to $15.00 in a research report on Friday, June 14th. Finally, Canaccord Genuity Group lifted their price objective on shares of Bandwidth from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Bandwidth presently has an average rating of “Hold” and an average target price of $25.63.

Hedge Funds Weigh In On Bandwidth

Institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. grew its position in Bandwidth by 31.6% during the first quarter. Ameritas Investment Partners Inc. now owns 2,355 shares of the company’s stock valued at $43,000 after buying an additional 565 shares during the period. Quest Partners LLC bought a new position in Bandwidth during the fourth quarter valued at about $145,000. Bayesian Capital Management LP purchased a new stake in Bandwidth during the first quarter valued at about $187,000. Resurgent Financial Advisors LLC lifted its holdings in Bandwidth by 4.6% during the first quarter. Resurgent Financial Advisors LLC now owns 11,840 shares of the company’s stock valued at $216,000 after purchasing an additional 520 shares during the last quarter. Finally, Oak Harbor Wealth Partners LLC purchased a new stake in Bandwidth during the fourth quarter valued at about $224,000. Institutional investors own 68.53% of the company’s stock.

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.