Bandwidth Inc. (NASDAQ:BAND) Insider Sells $59,189.00 in Stock

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) insider Devin M. Krupka sold 3,770 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.70, for a total value of $59,189.00. Following the completion of the sale, the insider now directly owns 19,188 shares in the company, valued at $301,251.60. This represents a 16.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Bandwidth Stock Performance

Shares of NASDAQ:BAND traded down $0.19 during trading on Friday, reaching $15.13. The stock had a trading volume of 263,047 shares, compared to its average volume of 280,380. Bandwidth Inc. has a 52 week low of $13.51 and a 52 week high of $25.02. The firm has a market capitalization of $433.08 million, a price-to-earnings 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. The stock has a fifty day simple moving average of $16.98 and a two-hundred day simple moving average of $17.84.

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 analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $203.68 million. During the same period in the prior year, the business earned $0.38 EPS. As a group, analysts anticipate that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.

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Hedge Funds Weigh In On Bandwidth

A number of institutional investors have recently modified their holdings of BAND. Covestor Ltd bought a new position in shares of Bandwidth in the fourth quarter valued at approximately $25,000. Quarry LP increased its position in Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company's stock worth $36,000 after acquiring an additional 1,245 shares during the period. New Age Alpha Advisors LLC bought a new position in Bandwidth during the fourth quarter worth $50,000. SBI Securities Co. Ltd. bought a new position in Bandwidth during the fourth quarter worth $69,000. Finally, Meeder Asset Management Inc. bought a new position in Bandwidth during the third quarter worth $74,000. Institutional investors own 68.53% of the company's stock.

Wall Street Analyst Weigh In

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