Dynamic Technology Lab Private Ltd Buys Shares of 42,667 Bandwidth Inc. (NASDAQ:BAND)

Dynamic Technology Lab Private Ltd acquired a new position in shares of Bandwidth Inc. (NASDAQ:BAND) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 42,667 shares of the company’s stock, valued at approximately $747,000. Dynamic Technology Lab Private Ltd owned approximately 0.16% of Bandwidth at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of BAND. Vanguard Group Inc. grew its holdings in shares of Bandwidth by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 1,536,051 shares of the company’s stock worth $28,048,000 after purchasing an additional 16,181 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Bandwidth during the 1st quarter worth approximately $235,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Bandwidth by 10.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,713 shares of the company’s stock worth $269,000 after purchasing an additional 1,334 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Bandwidth during the 1st quarter worth approximately $187,000. Finally, Baillie Gifford & Co. grew its holdings in shares of Bandwidth by 40.6% during the 2nd quarter. Baillie Gifford & Co. now owns 30,412 shares of the company’s stock worth $513,000 after purchasing an additional 8,789 shares in the last quarter. Institutional investors and hedge funds own 68.53% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Barclays cut their target price on Bandwidth from $28.00 to $25.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. JMP Securities restated a “market outperform” rating and set a $36.00 target price on shares of Bandwidth in a research report on Tuesday, August 27th. Robert W. Baird raised their target price on Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $28.33.

Insider Buying and Selling at Bandwidth

In other news, CFO Daryl Raiford sold 4,350 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $16.97, for a total transaction of $73,819.50. Following the completion of the sale, the chief financial officer now owns 71,546 shares in the company, valued at $1,214,135.62. The trade was a 5.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders sold 4,455 shares of company stock worth $75,786. 6.20% of the stock is currently owned by insiders.

Bandwidth Trading Up 1.6 %

Shares of BAND opened at $21.61 on Friday. The stock has a fifty day moving average price of $18.42 and a two-hundred day moving average price of $18.34. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.29 and a current ratio of 1.29. Bandwidth Inc. has a 52-week low of $10.60 and a 52-week high of $25.02. The company has a market cap of $594.49 million, a price-to-earnings ratio of -23.24 and a beta of 1.50.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.11. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The firm had revenue of $193.90 million during the quarter, compared to the consensus estimate of $182.05 million. During the same quarter in the previous year, the company posted $0.03 EPS. The business’s revenue for the quarter was up 27.6% compared to the same quarter last year. Analysts predict that Bandwidth Inc. will post 0.08 EPS for the current fiscal year.

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.