Connor Clark & Lunn Investment Management Ltd. Has $8.93 Million Holdings in Bandwidth Inc. (NASDAQ:BAND)

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Bandwidth Inc. (NASDAQ:BAND - Free Report) by 61.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 524,586 shares of the company's stock after purchasing an additional 200,387 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 1.91% of Bandwidth worth $8,928,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. AlphaQuest LLC lifted its stake in Bandwidth by 162.1% during the fourth quarter. AlphaQuest LLC now owns 17,684 shares of the company's stock valued at $301,000 after buying an additional 10,936 shares in the last quarter. Inceptionr LLC purchased a new stake in shares of Bandwidth in the 4th quarter valued at approximately $202,000. Charles Schwab Investment Management Inc. boosted its stake in Bandwidth by 12.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 300,076 shares of the company's stock worth $5,107,000 after purchasing an additional 32,709 shares during the period. SBI Securities Co. Ltd. purchased a new position in Bandwidth during the 4th quarter worth approximately $69,000. Finally, Versor Investments LP grew its position in Bandwidth by 136.1% during the 4th quarter. Versor Investments LP now owns 27,757 shares of the company's stock worth $472,000 after purchasing an additional 16,000 shares in the last quarter. Institutional investors and hedge funds own 68.53% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on BAND shares. Morgan Stanley raised their target price 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 reissued a "hold" rating on shares of Bandwidth in a research report on Friday, February 21st. Finally, Barclays decreased their price target on shares of Bandwidth from $25.00 to $22.00 and set an "overweight" rating for the company in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $28.33.

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Insider Transactions at Bandwidth

In related news, insider Devin M. Krupka sold 3,770 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $15.70, for a total transaction of $59,189.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Richard Brandon Asbill sold 9,878 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $15.24, for a total transaction of $150,540.72. Following the completion of the sale, the general counsel now owns 42,475 shares of the company's stock, valued at approximately $647,319. The trade was a 18.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,510 shares of company stock worth $1,109,806. Company insiders own 6.20% of the company's stock.

Bandwidth Stock Up 1.8 %

Shares of NASDAQ BAND traded up $0.27 during mid-day trading on Wednesday, reaching $15.09. 151,520 shares of the company traded hands, compared to its average volume of 276,785. The company's fifty day moving average is $16.67 and its two-hundred day moving average is $17.73. Bandwidth Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $25.02. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market cap of $431.94 million, a PE ratio of -26.47 and a beta of 1.57.

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. On average, analysts expect that Bandwidth Inc. will post 0.22 earnings per share for the current year.

Bandwidth 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.