Bandwidth Inc. (NASDAQ:BAND - Get Free Report) General Counsel Richard Brandon Asbill sold 5,629 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $15.70, for a total value of $88,375.30. Following the transaction, the general counsel now owns 57,475 shares in the company, valued at approximately $902,357.50. This trade represents a 8.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Richard Brandon Asbill also recently made the following trade(s):
- On Wednesday, March 5th, Richard Brandon Asbill sold 9,878 shares of Bandwidth stock. The stock was sold at an average price of $15.24, for a total value of $150,540.72.
- On Tuesday, January 21st, Richard Brandon Asbill sold 499 shares of Bandwidth stock. The stock was sold at an average price of $16.01, for a total value of $7,988.99.
- On Monday, January 6th, Richard Brandon Asbill sold 822 shares of Bandwidth stock. The stock was sold at an average price of $17.39, for a total value of $14,294.58.
Bandwidth Price Performance
Shares of BAND stock traded down $0.19 during trading hours 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. The firm's 50 day simple moving average is $16.98 and its 200-day simple moving average is $17.84. The company has a market capitalization of $433.08 million, a price-to-earnings ratio of -26.54 and a beta of 1.57. Bandwidth Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $25.02. 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 issued its earnings results on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.36). The business had revenue of $209.97 million during the quarter, compared to analyst estimates 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 prior year, the business posted $0.38 EPS. Sell-side analysts forecast that Bandwidth Inc. will post 0.22 earnings per share for the current year.
Institutional Investors Weigh In On Bandwidth
A number of large investors have recently modified their holdings of BAND. Los Angeles Capital Management LLC boosted its holdings in shares of Bandwidth by 3.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 21,221 shares of the company's stock valued at $372,000 after purchasing an additional 740 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in shares of Bandwidth by 32.0% during the 3rd quarter. GSA Capital Partners LLP now owns 69,986 shares of the company's stock valued at $1,225,000 after acquiring an additional 16,968 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Bandwidth by 27.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 75,575 shares of the company's stock valued at $1,323,000 after acquiring an additional 16,450 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Bandwidth during the 3rd quarter valued at $118,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Bandwidth during the 3rd quarter valued at $74,000. Institutional investors and hedge funds own 68.53% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on BAND. William Blair reiterated an "outperform" rating on shares of Bandwidth in a research note on Friday, February 21st. Barclays reduced their price target on Bandwidth from $25.00 to $22.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Needham & Company LLC reissued a "hold" rating on shares of Bandwidth in a research report on Friday, February 21st. Finally, Morgan Stanley increased their price target on Bandwidth from $17.00 to $18.00 and gave the stock an "underweight" rating in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $28.33.
View Our Latest Analysis on BAND
About Bandwidth
(
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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.
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