Versor Investments LP Raises Position in Bandwidth Inc. (NASDAQ:BAND)

Versor Investments LP increased its position in shares of Bandwidth Inc. (NASDAQ:BAND) by 136.1% in the 4th quarter, HoldingsChannel reports. The firm owned 27,757 shares of the company’s stock after purchasing an additional 16,000 shares during the period. Versor Investments LP’s holdings in Bandwidth were worth $472,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of BAND. Bank of New York Mellon Corp increased its holdings in shares of Bandwidth by 2.2% in the 4th quarter. Bank of New York Mellon Corp now owns 83,175 shares of the company’s stock valued at $1,416,000 after purchasing an additional 1,811 shares in the last quarter. Parcion Private Wealth LLC lifted its position in shares of Bandwidth by 1.7% during the 4th quarter. Parcion Private Wealth LLC now owns 232,137 shares of the company’s stock valued at $3,951,000 after acquiring an additional 3,927 shares during the period. SG Americas Securities LLC lifted its position in shares of Bandwidth by 14.5% during the 4th quarter. SG Americas Securities LLC now owns 11,102 shares of the company’s stock valued at $189,000 after acquiring an additional 1,407 shares during the period. Franklin Resources Inc. boosted its stake in shares of Bandwidth by 40.9% during the 3rd quarter. Franklin Resources Inc. now owns 77,481 shares of the company’s stock worth $1,325,000 after acquiring an additional 22,505 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Bandwidth by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 568,667 shares of the company’s stock worth $9,960,000 after acquiring an additional 19,832 shares during the period. 68.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bandwidth

In other Bandwidth news, CEO David A. Morken sold 2,777 shares of Bandwidth stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $17.39, for a total value of $48,292.03. Following the completion of the sale, the chief executive officer now owns 109,783 shares in the company, valued at $1,909,126.37. The trade was a 2.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Daryl Raiford sold 4,371 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $20.70, for a total transaction of $90,479.70. Following the transaction, the chief financial officer now directly owns 93,451 shares of the company’s stock, valued at approximately $1,934,435.70. This represents a 4.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 11,160 shares of company stock worth $207,320. Insiders own 6.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on BAND shares. William Blair reiterated an “outperform” rating on shares of Bandwidth in a research report on Friday, February 21st. Morgan Stanley lifted their price target on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research note on Friday, February 21st. Finally, Barclays cut their target price on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $28.33.

Bandwidth Trading Down 1.3 %

Bandwidth stock opened at $15.97 on Friday. The stock has a 50-day moving average price of $17.23 and a 200 day moving average price of $17.87. Bandwidth Inc. has a 52 week low of $13.51 and a 52 week high of $25.02. The stock has a market cap of $439.33 million, a PE ratio of -28.02 and a beta of 1.54. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.36). The firm had revenue of $209.97 million for the quarter, compared to analysts’ expectations of $203.68 million. Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. During the same quarter last year, the firm earned $0.38 earnings per share. Equities research analysts predict that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.

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.