Daryl Raiford Sells 1,305 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 1,305 shares of Bandwidth stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $17.39, for a total transaction of $22,693.95. Following the completion of the transaction, the chief financial officer now directly owns 96,522 shares of the company’s stock, valued at $1,678,517.58. This trade represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Daryl Raiford also recently made the following trade(s):

• On Friday, November 29th, Daryl Raiford sold 10,389 shares of Bandwidth stock. The stock was sold at an average price of $21.26, for a total transaction of $220,870.14.
• On Monday, December 2nd, Daryl Raiford sold 4,371 shares of Bandwidth stock. The shares were sold at an average price of $20.70, for a total value of $90,479.70.

Bandwidth Stock Performance

BAND stock opened at $16.41 on Wednesday. The company has a 50-day simple moving average of $19.05 and a 200 day simple moving average of $18.13. The company has a market capitalization of $451.44 million, a P/E ratio of -17.65 and a beta of 1.52. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.83. Bandwidth Inc. has a fifty-two week low of $11.90 and a fifty-two week high of $25.02.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. Bandwidth had a negative net margin of 2.23% and a negative return on equity of 0.89%. The company had revenue of $193.90 million during the quarter, compared to analyst estimates of $182.05 million. During the same period in the prior year, the business posted $0.03 EPS. The business’s revenue for the quarter was up 27.6% compared to the same quarter last year. 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 modified their holdings of BAND. Acadian Asset Management LLC boosted its stake in Bandwidth by 79.8% during the second quarter. Acadian Asset Management LLC now owns 613,612 shares of the company’s stock valued at $10,353,000 after buying an additional 272,309 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Bandwidth during the 2nd quarter valued at about $57,000. Redwood Wealth Management Group LLC bought a new position in shares of Bandwidth during the 2nd quarter valued at about $35,000. Dimensional Fund Advisors LP grew its stake in shares of Bandwidth by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,043,013 shares of the company’s stock worth $17,606,000 after purchasing an additional 62,201 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Bandwidth by 9.3% during the second quarter. Renaissance Technologies LLC now owns 604,200 shares of the company’s stock valued at $10,199,000 after purchasing an additional 51,542 shares during the last quarter. Institutional investors own 68.53% of the company’s stock.

Analysts Set New Price Targets

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