Bandwidth Inc. (NASDAQ:BAND) General Counsel Sells $14,294.58 in Stock

Bandwidth Inc. (NASDAQ:BAND) General Counsel Richard Brandon Asbill sold 822 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $17.39, for a total transaction of $14,294.58. Following the completion of the transaction, the general counsel now owns 43,405 shares in the company, valued at approximately $754,812.95. This trade represents a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, November 29th, Richard Brandon Asbill sold 5,561 shares of Bandwidth stock. The stock was sold at an average price of $21.26, for a total transaction of $118,226.86.

Bandwidth Stock Performance

Shares of Bandwidth stock opened at $17.47 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a 50 day simple moving average of $19.10 and a 200 day simple moving average of $18.13. Bandwidth Inc. has a fifty-two week low of $11.90 and a fifty-two week high of $25.02. The firm has a market cap of $480.60 million, a P/E ratio of -18.78 and a beta of 1.52.

Bandwidth (NASDAQ:BAND) last released its earnings results on Thursday, October 31st. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.32 by $0.11. The company had revenue of $193.90 million during the quarter, compared to analysts’ expectations of $182.05 million. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The business’s revenue for the quarter was up 27.6% on a year-over-year basis. During the same period last year, the firm earned $0.03 EPS. Sell-side analysts predict that Bandwidth Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Trading of Bandwidth

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC lifted its position in Bandwidth by 3.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 21,221 shares of the company’s stock valued at $372,000 after purchasing an additional 740 shares during the period. nVerses Capital LLC raised its stake in shares of Bandwidth by 80.0% during the third quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $32,000 after buying an additional 800 shares during the last quarter. Quarry LP raised its stake in shares of Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after buying an additional 1,245 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Bandwidth by 2.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 50,374 shares of the company’s stock valued at $850,000 after buying an additional 1,342 shares during the period. Finally, Redwood Wealth Management Group LLC bought a new position in Bandwidth in the second quarter valued at approximately $35,000. 68.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BAND has been the topic of a number of research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research report on Friday, November 1st. Morgan Stanley boosted their price objective on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th. Finally, Robert W. Baird increased their target price on Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $28.83.

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.