Daryl Raiford Sells 10,389 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 10,389 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $21.26, for a total value of $220,870.14. Following the completion of the sale, the chief financial officer now directly owns 87,220 shares of the company’s stock, valued at $1,854,297.20. The trade was a 10.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Monday, December 2nd, Daryl Raiford sold 4,371 shares of Bandwidth stock. The stock was sold at an average price of $20.70, for a total value of $90,479.70.
• On Tuesday, September 3rd, Daryl Raiford sold 4,350 shares of Bandwidth stock. The shares were sold at an average price of $16.97, for a total value of $73,819.50.

Bandwidth Stock Down 3.9 %

Shares of Bandwidth stock opened at $20.29 on Wednesday. Bandwidth Inc. has a one year low of $11.01 and a one year high of $25.02. The company has a market cap of $558.18 million, a P/E ratio of -21.82 and a beta of 1.51. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a fifty day moving average of $18.71 and a two-hundred day moving average of $18.29.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.11. The firm had revenue of $193.90 million during the quarter, compared to analysts’ expectations of $182.05 million. Bandwidth had a negative net margin of 2.23% and a negative return on equity of 0.89%. The firm’s revenue for the quarter was up 27.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 earnings per share. On average, analysts forecast that Bandwidth Inc. will post 0.08 earnings per share for the current year.

Institutional Trading of Bandwidth

Hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC grew its holdings in Bandwidth by 143.9% during the second quarter. Hsbc Holdings PLC now owns 55,259 shares of the company’s stock worth $929,000 after acquiring an additional 32,598 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Bandwidth during the 3rd quarter worth $747,000. Squarepoint Ops LLC acquired a new stake in shares of Bandwidth in the second quarter valued at about $1,113,000. Panagora Asset Management Inc. boosted its holdings in Bandwidth by 50.0% during the second quarter. Panagora Asset Management Inc. now owns 139,592 shares of the company’s stock worth $2,356,000 after buying an additional 46,547 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Bandwidth by 185.5% during the third quarter. Assenagon Asset Management S.A. now owns 341,921 shares of the company’s stock worth $5,987,000 after buying an additional 222,142 shares during the period. 68.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on BAND shares. JMP Securities reiterated a “market outperform” rating and issued a $36.00 price target on shares of Bandwidth in a research report on Tuesday, August 27th. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. Finally, Robert W. Baird increased their target price on shares of Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Bandwidth currently has an average rating of “Hold” and a consensus price target of $28.33.

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.