Bandwidth Inc (BAND) CEO David A. Morken Sells 28,592 Shares

Bandwidth Inc (NASDAQ:BAND) CEO David A. Morken sold 28,592 shares of Bandwidth stock in a transaction on Thursday, January 10th. The shares were sold at an average price of $41.82, for a total value of $1,195,717.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Bandwidth stock traded down $0.05 during midday trading on Friday, reaching $41.61. The stock had a trading volume of 66,000 shares, compared to its average volume of 145,938. Bandwidth Inc has a twelve month low of $19.45 and a twelve month high of $57.50. The stock has a market capitalization of $811.84 million, a P/E ratio of 84.92 and a beta of 0.55.

Bandwidth (NASDAQ:BAND) last issued its earnings results on Tuesday, October 30th. The company reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.15. Bandwidth had a return on equity of 4.99% and a net margin of 9.58%. The firm had revenue of $50.50 million for the quarter, compared to analysts’ expectations of $47.94 million. During the same quarter last year, the firm earned $0.15 earnings per share. The firm’s revenue for the quarter was up 22.3% compared to the same quarter last year. As a group, analysts predict that Bandwidth Inc will post 0.09 EPS for the current fiscal year.



Institutional investors have recently modified their holdings of the stock. FMR LLC acquired a new position in Bandwidth in the second quarter valued at $1,823,000. Russell Investments Group Ltd. boosted its holdings in Bandwidth by 3.4% in the second quarter. Russell Investments Group Ltd. now owns 40,463 shares of the company’s stock valued at $1,537,000 after acquiring an additional 1,341 shares during the last quarter. Millennium Management LLC boosted its holdings in Bandwidth by 225.6% in the second quarter. Millennium Management LLC now owns 72,920 shares of the company’s stock valued at $2,770,000 after acquiring an additional 50,524 shares during the last quarter. Citadel Advisors LLC acquired a new position in Bandwidth in the second quarter valued at $213,000. Finally, Virtu Financial LLC acquired a new position in Bandwidth in the third quarter valued at $512,000. Hedge funds and other institutional investors own 39.35% of the company’s stock.

BAND has been the subject of a number of recent analyst reports. ValuEngine raised Bandwidth from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Canaccord Genuity lifted their price objective on Bandwidth from $44.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, October 31st. Morgan Stanley lifted their price objective on Bandwidth from $44.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Zacks Investment Research downgraded Bandwidth from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 5th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Bandwidth presently has a consensus rating of “Buy” and an average target price of $48.00.

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About Bandwidth

Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provides in the United States. The company operates through two segments, CPaaS and Other. Its platform enables enterprises to create, scale, and operate voice or text communications services across mobile application or connected device.

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Insider Buying and Selling by Quarter for Bandwidth (NASDAQ:BAND)

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