Bandwidth Inc. (NASDAQ:BAND) General Counsel Richard Brandon Asbill Sells 5,629 Shares

Bandwidth Inc. (NASDAQ:BAND) General Counsel Richard Brandon Asbill sold 5,629 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $15.70, for a total transaction of $88,375.30. Following the completion of the transaction, the general counsel now directly owns 57,475 shares of the company’s stock, valued at approximately $902,357.50. This trade represents a 8.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Tuesday, January 21st, Richard Brandon Asbill sold 499 shares of Bandwidth stock. The shares were sold at an average price of $16.01, for a total value of $7,988.99.
• On Monday, January 6th, Richard Brandon Asbill sold 822 shares of Bandwidth stock. The stock was sold at an average price of $17.39, for a total value of $14,294.58.

Bandwidth Stock Performance

Shares of BAND traded up $0.07 during trading hours on Tuesday, hitting $15.17. The stock had a trading volume of 441,933 shares, compared to its average volume of 282,968. The stock has a fifty day moving average price of $17.17 and a 200 day moving average price of $17.90. The firm has a market capitalization of $417.33 million, a PE ratio of -26.61 and a beta of 1.54. Bandwidth Inc. has a 12 month low of $13.51 and a 12 month high of $25.02. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.34 and a quick ratio of 1.34.

Bandwidth (NASDAQ:BAND) last released its earnings results on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.36). The company had revenue of $209.97 million during 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 period last year, the firm posted $0.38 EPS. Analysts anticipate that Bandwidth Inc. will post 0.22 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BAND. Covestor Ltd purchased a new stake in shares of Bandwidth in the fourth quarter worth about $25,000. Quarry LP grew its position in Bandwidth by 157.6% in the third quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after acquiring an additional 1,245 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in Bandwidth during the fourth quarter worth approximately $50,000. SBI Securities Co. Ltd. purchased a new stake in Bandwidth during the fourth quarter valued at approximately $69,000. Finally, Meeder Asset Management Inc. purchased a new stake in Bandwidth during the third quarter valued at approximately $74,000. Institutional investors own 68.53% of the company’s stock.

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.