Insider Selling: Bandwidth Inc. (NASDAQ:BAND) COO Sells 6,538 Shares of Stock

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) COO Devesh Agarwal sold 6,538 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $15.70, for a total transaction of $102,646.60. Following the completion of the transaction, the chief operating officer now owns 53,413 shares in the company, valued at approximately $838,584.10. The trade was a 10.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Bandwidth Stock Down 1.2 %

NASDAQ:BAND traded down $0.19 during mid-day trading on Friday, reaching $15.13. The company's stock had a trading volume of 263,047 shares, compared to its average volume of 280,380. Bandwidth Inc. has a 1 year low of $13.51 and a 1 year high of $25.02. The stock has a fifty day moving average of $16.98 and a 200-day moving average of $17.84. The firm has a market capitalization of $433.08 million, a PE ratio of -26.54 and a beta of 1.57. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.90.

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

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Institutional Trading of Bandwidth

Several hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Bandwidth by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,185 shares of the company's stock valued at $241,000 after buying an additional 608 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its position in shares of Bandwidth by 1.6% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 43,366 shares of the company's stock valued at $738,000 after buying an additional 699 shares during the last quarter. Los Angeles Capital Management LLC lifted its position 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 valued at $372,000 after buying an additional 740 shares during the last quarter. Quarry LP increased its holdings in shares of 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 acquiring an additional 1,245 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Bandwidth by 14.5% during the fourth 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 in the last quarter. 68.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BAND. Morgan Stanley upped their price target on shares of Bandwidth from $17.00 to $18.00 and gave the stock an "underweight" rating in a report on Wednesday, December 18th. Barclays cut their price target on shares of Bandwidth from $25.00 to $22.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of Bandwidth in a research note on Friday, February 21st. Finally, William Blair reaffirmed an "outperform" rating on shares of Bandwidth in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $28.33.

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.