Bandwidth Inc. (NASDAQ:BAND) CFO Sells $21,687.90 in Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 1,245 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $17.42, for a total value of $21,687.90. Following the completion of the transaction, the chief financial officer now directly owns 65,294 shares of the company’s stock, valued at $1,137,421.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Tuesday, July 23rd, Daryl Raiford sold 1,769 shares of Bandwidth stock. The stock was sold at an average price of $22.22, for a total value of $39,307.18.
• On Wednesday, June 5th, Daryl Raiford sold 7,600 shares of Bandwidth stock. The stock was sold at an average price of $20.80, for a total value of $158,080.00.
• On Friday, May 31st, Daryl Raiford sold 13,410 shares of Bandwidth stock. The stock was sold at an average price of $20.01, for a total value of $268,334.10.

Bandwidth Stock Performance

Shares of BAND traded up $0.47 during mid-day trading on Thursday, reaching $17.58. The company had a trading volume of 228,938 shares, compared to its average volume of 337,319. Bandwidth Inc. has a 52-week low of $9.34 and a 52-week high of $25.02. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $474.80 million, a P/E ratio of -15.70 and a beta of 1.48. The stock has a 50 day moving average of $17.79 and a two-hundred day moving average of $18.18.

Bandwidth (NASDAQ:BAND) last issued its earnings results on Thursday, August 1st. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Bandwidth had a negative return on equity of 1.92% and a negative net margin of 3.21%. The firm had revenue of $174.00 million for the quarter, compared to the consensus estimate of $173.18 million. During the same quarter in the prior year, the business earned ($0.09) earnings per share. The company’s revenue was up 19.2% compared to the same quarter last year. On average, analysts expect that Bandwidth Inc. will post 0.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. KeyCorp boosted their target price on Bandwidth from $21.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. JMP Securities reiterated a “market outperform” rating and set a $36.00 price target on shares of Bandwidth in a research note on Tuesday. Morgan Stanley downgraded Bandwidth from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $18.00 to $15.00 in a research note on Friday, June 14th. Robert W. Baird dropped their price target on Bandwidth from $25.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, Barclays dropped their price target on Bandwidth from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $25.71.

Hedge Funds Weigh In On Bandwidth

Large investors have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC acquired a new position in Bandwidth in the 1st quarter worth about $1,143,000. G2 Investment Partners Management LLC acquired a new position in Bandwidth in the 4th quarter worth about $4,079,000. Acadian Asset Management LLC raised its holdings in Bandwidth by 15.7% in the 1st quarter. Acadian Asset Management LLC now owns 341,303 shares of the company’s stock worth $6,231,000 after purchasing an additional 46,342 shares during the period. Palogic Value Management L.P. raised its holdings in Bandwidth by 17.0% in the 4th quarter. Palogic Value Management L.P. now owns 300,000 shares of the company’s stock worth $4,341,000 after purchasing an additional 43,675 shares during the period. Finally, Oak Harbor Wealth Partners LLC acquired a new position in Bandwidth in the 4th quarter worth about $224,000. Institutional investors and hedge funds own 68.53% of the company’s stock.

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.