Charles Schwab Investment Management Inc. Has $4.68 Million Holdings in Bandwidth Inc. (NASDAQ:BAND)

Charles Schwab Investment Management Inc. lifted its stake in Bandwidth Inc. (NASDAQ:BAND - Free Report) by 38.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 267,367 shares of the company's stock after purchasing an additional 73,795 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.97% of Bandwidth worth $4,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the stock. Innealta Capital LLC acquired a new stake in shares of Bandwidth in the 2nd quarter valued at $30,000. nVerses Capital LLC increased its position in shares of Bandwidth by 80.0% during the third quarter. nVerses Capital LLC now owns 1,800 shares of the company's stock valued at $32,000 after purchasing an additional 800 shares during the period. Redwood Wealth Management Group LLC acquired a new position in shares of Bandwidth in the 2nd quarter valued at $35,000. Daiwa Securities Group Inc. bought a new position in Bandwidth during the second quarter worth about $57,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Bandwidth during the 3rd quarter worth approximately $74,000. Institutional investors and hedge funds own 68.53% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. JMP Securities restated a "market outperform" rating and issued a $36.00 price target on shares of Bandwidth in a research report on Tuesday, August 27th. Needham & Company LLC reaffirmed a "hold" rating on shares of Bandwidth in a report on Friday, November 1st. Finally, Robert W. Baird boosted their price objective on Bandwidth from $19.00 to $22.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $28.33.

Bandwidth Trading Down 4.5 %

NASDAQ:BAND traded down $0.88 during trading hours on Friday, hitting $18.71. 170,892 shares of the stock were exchanged, compared to its average volume of 305,697. The company has a market capitalization of $514.71 million, a P/E ratio of -20.12 and a beta of 1.51. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.83. The company's 50 day moving average is $19.13 and its two-hundred day moving average is $18.24. Bandwidth Inc. has a twelve month low of $11.90 and a twelve month high of $25.02.

Bandwidth (NASDAQ:BAND - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.11. The business had revenue of $193.90 million for the quarter, compared to analyst estimates of $182.05 million. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The firm's revenue for the quarter was up 27.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 earnings per share. On average, sell-side analysts anticipate that Bandwidth Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Transactions at Bandwidth

In other Bandwidth news, CFO Daryl Raiford sold 4,371 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.70, for a total value of $90,479.70. Following the completion of the sale, the chief financial officer now owns 93,451 shares of the company's stock, valued at approximately $1,934,435.70. This represents a 4.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Devin M. Krupka sold 3,658 shares of Bandwidth stock in a transaction on Friday, November 29th. The stock was sold at an average price of $21.26, for a total transaction of $77,769.08. Following the transaction, the insider now directly owns 11,097 shares in the company, valued at approximately $235,922.22. This represents a 24.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,733 shares of company stock worth $948,310 in the last quarter. 6.20% of the stock is owned by company insiders.

Bandwidth Company 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.