Insider Selling: Bandwidth Inc. (NASDAQ:BAND) COO Sells $146,212.50 in Stock

Bandwidth Inc. (NASDAQ:BAND) COO Anthony Bartolo sold 7,798 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $18.75, for a total transaction of $146,212.50. Following the transaction, the chief operating officer now owns 76,469 shares of the company’s stock, valued at approximately $1,433,793.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Anthony Bartolo also recently made the following trade(s):

• On Thursday, February 29th, Anthony Bartolo sold 990 shares of Bandwidth stock. The shares were sold at an average price of $19.75, for a total transaction of $19,552.50.

Bandwidth Price Performance

NASDAQ BAND opened at $18.05 on Thursday. The stock has a market capitalization of $474.17 million, a P/E ratio of -17.19 and a beta of 1.51. The company has a debt-to-equity ratio of 1.41, a quick ratio of 2.06 and a current ratio of 2.06. The business’s fifty day moving average is $16.07 and its two-hundred day moving average is $13.47. Bandwidth Inc. has a 1 year low of $9.34 and a 1 year high of $21.68.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The firm had revenue of $165.00 million for the quarter, compared to analysts’ expectations of $154.17 million. Bandwidth had a negative net margin of 2.72% and a negative return on equity of 3.10%. Bandwidth’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.04 earnings per share. On average, research analysts forecast that Bandwidth Inc. will post 0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BAND. Acadian Asset Management LLC acquired a new stake in Bandwidth during the 1st quarter worth about $58,000. Quarry LP lifted its position in Bandwidth by 310.6% in the 1st quarter. Quarry LP now owns 2,008 shares of the company’s stock worth $31,000 after buying an additional 1,519 shares in the last quarter. Point72 Middle East FZE acquired a new stake in shares of Bandwidth during the 4th quarter valued at $51,000. Tower Research Capital LLC TRC grew its holdings in shares of Bandwidth by 36.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,946 shares of the company’s stock valued at $36,000 after acquiring an additional 792 shares in the last quarter. Finally, DHJJ Financial Advisors Ltd. acquired a new stake in Bandwidth during the third quarter valued at $34,000. 68.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BAND shares. KeyCorp increased their price target on Bandwidth from $16.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Canaccord Genuity Group increased their target price on shares of Bandwidth from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Finally, Barclays boosted their target price on Bandwidth from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.71.

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.