Innealta Capital LLC Makes New Investment in Bandwidth Inc. (NASDAQ:BAND)

Innealta Capital LLC acquired a new stake in Bandwidth Inc. (NASDAQ:BAND) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,799 shares of the company’s stock, valued at approximately $30,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC grew its holdings in Bandwidth by 25.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 73,235 shares of the company’s stock worth $1,060,000 after acquiring an additional 14,752 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in Bandwidth in the fourth quarter valued at $471,000. Quest Partners LLC acquired a new stake in Bandwidth in the fourth quarter valued at $145,000. Oak Harbor Wealth Partners LLC purchased a new position in shares of Bandwidth in the 4th quarter valued at about $224,000. Finally, Olympiad Research LP raised its position in shares of Bandwidth by 65.4% during the 4th quarter. Olympiad Research LP now owns 16,917 shares of the company’s stock worth $245,000 after acquiring an additional 6,686 shares in the last quarter. 68.53% of the stock is owned by institutional investors and hedge funds.

Bandwidth Trading Down 2.4 %

Shares of BAND stock opened at $17.16 on Friday. The business’s 50 day moving average is $17.82 and its two-hundred day moving average is $18.20. Bandwidth Inc. has a twelve month low of $9.34 and a twelve month high of $25.02. The company has a market capitalization of $463.46 million, a P/E ratio of -15.32 and a beta of 1.48. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 1.41.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. The firm had revenue of $174.00 million during the quarter, compared to the consensus estimate of $173.18 million. Bandwidth had a negative return on equity of 1.92% and a negative net margin of 3.21%. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period last year, the company earned ($0.09) earnings per share. Equities analysts forecast that Bandwidth Inc. will post 0.16 EPS for the current year.

Insider Transactions at Bandwidth

In other Bandwidth news, CFO Daryl Raiford sold 7,600 shares of Bandwidth stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $20.80, for a total value of $158,080.00. Following the sale, the chief financial officer now owns 60,476 shares of the company’s stock, valued at approximately $1,257,900.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Daryl Raiford sold 7,600 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $20.80, for a total value of $158,080.00. Following the completion of the sale, the chief financial officer now directly owns 60,476 shares of the company’s stock, valued at approximately $1,257,900.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lukas M. Roush acquired 4,963 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average cost of $16.12 per share, for a total transaction of $80,003.56. Following the acquisition, the director now directly owns 43,167 shares of the company’s stock, valued at $695,852.04. The disclosure for this purchase can be found here. Insiders have sold a total of 17,044 shares of company stock worth $329,336 over the last ninety days. 6.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Morgan Stanley lowered shares of Bandwidth from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $18.00 to $15.00 in a research note on Friday, June 14th. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research report on Friday, August 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $36.00 price objective on shares of Bandwidth in a report on Tuesday. Barclays reduced their target price on Bandwidth from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Canaccord Genuity Group raised their price target on Bandwidth from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Bandwidth has an average rating of “Hold” and an average price target of $25.71.

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.