272 Capital LP Has $35,000 Holdings in Bandwidth Inc. (NASDAQ:BAND)

272 Capital LP cut its stake in shares of Bandwidth Inc. (NASDAQ:BAND - Free Report) by 93.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,000 shares of the company's stock after selling 29,598 shares during the period. 272 Capital LP's holdings in Bandwidth were worth $35,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Los Angeles Capital Management LLC increased its stake in shares of Bandwidth by 3.6% during the third quarter. Los Angeles Capital Management LLC now owns 21,221 shares of the company's stock worth $372,000 after purchasing an additional 740 shares during the period. nVerses Capital LLC increased its position in Bandwidth by 80.0% during the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company's stock worth $32,000 after buying an additional 800 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Bandwidth by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,713 shares of the company's stock worth $269,000 after buying an additional 1,334 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of Bandwidth by 2.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 50,374 shares of the company's stock valued at $850,000 after acquiring an additional 1,342 shares during the period. Finally, Innealta Capital LLC bought a new stake in shares of Bandwidth in the second quarter valued at about $30,000. Institutional investors own 68.53% of the company's stock.

Insider Activity at Bandwidth

In other Bandwidth news, CFO Daryl Raiford sold 4,350 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $16.97, for a total value of $73,819.50. Following the completion of the transaction, the chief financial officer now directly owns 71,546 shares in the company, valued at approximately $1,214,135.62. This trade represents a 5.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 4,455 shares of company stock valued at $75,786 in the last quarter. Insiders own 6.20% of the company's stock.

Bandwidth Price Performance

Shares of BAND stock traded down $0.58 on Friday, hitting $21.03. 394,980 shares of the company's stock were exchanged, compared to its average volume of 253,158. The company has a 50 day moving average of $18.58 and a 200 day moving average of $18.31. The stock has a market cap of $578.54 million, a P/E ratio of -22.61 and a beta of 1.50. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.29 and a quick ratio of 1.29. Bandwidth Inc. has a 12 month low of $10.88 and a 12 month high of $25.02.

Bandwidth (NASDAQ:BAND - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $0.43 EPS for the quarter, topping analysts' consensus estimates 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 business's revenue for the quarter was up 27.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 earnings per share. On average, equities research analysts predict that Bandwidth Inc. will post 0.08 EPS for the current year.

Analyst Ratings Changes

BAND has been the subject of several analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Bandwidth in a research note on Friday, November 1st. Robert W. Baird raised their target price on shares of Bandwidth from $19.00 to $22.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. Finally, JMP Securities reiterated a "market outperform" rating and issued a $36.00 price target on shares of Bandwidth in a research note on Tuesday, August 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Bandwidth currently has a consensus rating of "Hold" and a consensus price target of $28.33.

Bandwidth 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.