Arrowstreet Capital Limited Partnership Has $4.86 Million Stock Position in Bandwidth Inc. (NASDAQ:BAND)

Arrowstreet Capital Limited Partnership grew its position in shares of Bandwidth Inc. (NASDAQ:BAND - Free Report) by 88.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 285,559 shares of the company's stock after buying an additional 133,715 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.04% of Bandwidth worth $4,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Quarry LP raised its holdings in Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company's stock valued at $36,000 after buying an additional 1,245 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Bandwidth by 14.5% during the 4th quarter. SG Americas Securities LLC now owns 11,102 shares of the company's stock valued at $189,000 after acquiring an additional 1,407 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Bandwidth by 2.2% in the 4th quarter. Bank of New York Mellon Corp now owns 83,175 shares of the company's stock valued at $1,416,000 after acquiring an additional 1,811 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in Bandwidth in the 4th quarter worth approximately $50,000. Finally, Parcion Private Wealth LLC boosted its position in Bandwidth by 1.7% during the fourth quarter. Parcion Private Wealth LLC now owns 232,137 shares of the company's stock worth $3,951,000 after purchasing an additional 3,927 shares during the period. Institutional investors own 68.53% of the company's stock.

Insider Activity at Bandwidth

In other Bandwidth news, General Counsel Richard Brandon Asbill sold 9,878 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $15.24, for a total value of $150,540.72. Following the sale, the general counsel now owns 42,475 shares of the company's stock, valued at $647,319. The trade was a 18.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David A. Morken sold 13,653 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $15.70, for a total transaction of $214,352.10. Following the completion of the transaction, the chief executive officer now owns 142,439 shares of the company's stock, valued at approximately $2,236,292.30. This represents a 8.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,220 shares of company stock worth $1,000,954. 6.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BAND shares. Needham & Company LLC reissued a "hold" rating on shares of Bandwidth in a research report on Friday, February 21st. William Blair reissued an "outperform" rating on shares of Bandwidth in a research report on Friday, February 21st. Barclays decreased their price target on shares of Bandwidth from $25.00 to $22.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Finally, Morgan Stanley lifted their price objective on Bandwidth from $17.00 to $18.00 and gave the stock an "underweight" rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Bandwidth currently has a consensus rating of "Moderate Buy" and an average price target of $28.33.

Bandwidth Stock Performance

Shares of NASDAQ:BAND traded down $0.21 on Friday, hitting $12.15. 225,029 shares of the company were exchanged, compared to its average volume of 287,740. The company's 50 day moving average price is $15.39 and its two-hundred day moving average price is $17.23. The firm has a market capitalization of $347.78 million, a price-to-earnings ratio of -21.32 and a beta of 1.89. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.34 and a current ratio of 1.34. Bandwidth Inc. has a one year low of $11.47 and a one year high of $25.02.

Bandwidth (NASDAQ:BAND - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.36). Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. The firm had revenue of $209.97 million for the quarter, compared to the consensus estimate of $203.68 million. During the same quarter in the prior year, the firm earned $0.38 earnings per share. Research analysts expect that Bandwidth Inc. will post 0.22 earnings per share for the current year.

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.