Bandwidth Inc. (NASDAQ:BAND - Get Free Report) General Counsel Richard Brandon Asbill sold 9,878 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $15.24, for a total transaction of $150,540.72. Following the sale, the general counsel now owns 42,475 shares of the company's stock, valued at $647,319. This trade represents a 18.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Richard Brandon Asbill also recently made the following trade(s):
- On Monday, March 3rd, Richard Brandon Asbill sold 5,629 shares of Bandwidth stock. The stock was sold at an average price of $15.70, for a total transaction of $88,375.30.
- 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 transaction 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 transaction of $14,294.58.
Bandwidth Stock Down 1.2 %
Shares of Bandwidth stock traded down $0.19 during trading on Friday, hitting $15.13. 263,047 shares of the stock traded hands, compared to its average volume of 280,085. The firm has a market cap of $433.08 million, a P/E ratio of -26.54 and a beta of 1.57. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90. Bandwidth Inc. has a 52-week low of $13.51 and a 52-week high of $25.02. The stock's fifty day simple moving average is $16.98 and its 200 day simple moving average is $17.84.
Bandwidth (NASDAQ:BAND - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.36). Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. The business had revenue of $209.97 million during the quarter, compared to analyst estimates of $203.68 million. During the same period in the prior year, the business posted $0.38 EPS. On average, equities analysts predict that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.
Institutional Trading of Bandwidth
Several large investors have recently added to or reduced their stakes in BAND. Mackenzie Financial Corp acquired a new position in Bandwidth during the 4th quarter worth about $456,000. Squarepoint Ops LLC increased its holdings in shares of Bandwidth by 49.8% in the fourth quarter. Squarepoint Ops LLC now owns 44,355 shares of the company's stock valued at $755,000 after purchasing an additional 14,754 shares during the period. Two Sigma Investments LP increased its holdings in shares of Bandwidth by 8.9% in the fourth quarter. Two Sigma Investments LP now owns 108,338 shares of the company's stock valued at $1,844,000 after purchasing an additional 8,813 shares during the period. Millennium Management LLC increased its holdings in shares of Bandwidth by 213.5% in the fourth quarter. Millennium Management LLC now owns 136,442 shares of the company's stock valued at $2,322,000 after purchasing an additional 92,915 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Bandwidth by 4.5% in 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 in the last quarter. 68.53% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on BAND shares. Morgan Stanley raised 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. William Blair restated an "outperform" rating on shares of Bandwidth in a research report on Friday, February 21st. Needham & Company LLC reiterated a "hold" rating on shares of Bandwidth in a research report on Friday, February 21st. Finally, Barclays decreased their target price on Bandwidth from $25.00 to $22.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Bandwidth currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.33.
Check Out Our Latest Stock Report on BAND
About Bandwidth
(
Get Free Report)
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.
See Also
Before you consider Bandwidth, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bandwidth wasn't on the list.
While Bandwidth currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
