Bandwidth Inc. (NASDAQ:BAND) General Counsel Sells $11,619.14 in Stock

Bandwidth Inc. (NASDAQ:BAND) General Counsel Richard Brandon Asbill sold 667 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $17.42, for a total transaction of $11,619.14. Following the completion of the sale, the general counsel now owns 28,426 shares in the company, valued at $495,180.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Bandwidth Stock Performance

Shares of NASDAQ BAND traded up $0.47 during midday trading on Thursday, reaching $17.58. The company had a trading volume of 228,938 shares, compared to its average volume of 337,319. The business’s 50-day simple moving average is $17.79 and its 200 day simple moving average is $18.18. The stock has a market cap of $474.80 million, a P/E ratio of -15.70 and a beta of 1.48. Bandwidth Inc. has a 1 year low of $9.34 and a 1 year high of $25.02. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 1.41.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Innealta Capital LLC purchased a new position in Bandwidth in the second quarter valued at $30,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Bandwidth in the second quarter valued at about $35,000. Ameritas Investment Partners Inc. grew its position in shares of Bandwidth by 31.6% in the first quarter. Ameritas Investment Partners Inc. now owns 2,355 shares of the company’s stock valued at $43,000 after purchasing an additional 565 shares during the period. Daiwa Securities Group Inc. acquired a new stake in shares of Bandwidth in the second quarter valued at about $57,000. Finally, Quest Partners LLC acquired a new stake in shares of Bandwidth in the fourth quarter valued at about $145,000. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on BAND shares. KeyCorp upped their price target on shares of Bandwidth from $21.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Morgan Stanley cut shares of Bandwidth from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $18.00 to $15.00 in a research report on Friday, June 14th. Barclays dropped their price objective on shares of Bandwidth from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. JMP Securities restated a “market outperform” rating and issued a $36.00 target price on shares of Bandwidth in a research note on Tuesday. Finally, Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $25.71.

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.