Bandwidth Inc. (NASDAQ:BAND) Position Cut by Intrinsic Edge Capital Management LLC

Intrinsic Edge Capital Management LLC lowered its stake in Bandwidth Inc. (NASDAQ:BAND - Free Report) by 33.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 221,058 shares of the company's stock after selling 113,376 shares during the quarter. Intrinsic Edge Capital Management LLC owned approximately 0.80% of Bandwidth worth $3,762,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Bandwidth by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 1,769,027 shares of the company's stock valued at $30,109,000 after acquiring an additional 73,623 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Bandwidth by 9.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company's stock valued at $21,260,000 after purchasing an additional 112,269 shares during the last quarter. Renaissance Technologies LLC lifted its position in Bandwidth by 15.3% during the fourth quarter. Renaissance Technologies LLC now owns 651,300 shares of the company's stock worth $11,085,000 after buying an additional 86,200 shares during the period. Geode Capital Management LLC lifted its position in Bandwidth by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 570,910 shares of the company's stock worth $9,720,000 after buying an additional 2,243 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Bandwidth by 61.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 524,586 shares of the company's stock valued at $8,928,000 after buying an additional 200,387 shares during the period. Institutional investors and hedge funds own 68.53% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on BAND. Barclays lowered their target price 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. William Blair reissued an "outperform" rating on shares of Bandwidth in a research note on Friday, February 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of Bandwidth in a research report on Friday, February 21st. Finally, Morgan Stanley lowered their price target on Bandwidth from $18.00 to $11.00 and set an "underweight" rating for the company in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $27.17.

Bandwidth Stock Up 2.1 %

Bandwidth stock traded up $0.26 during midday trading on Tuesday, hitting $12.89. 187,213 shares of the stock were exchanged, compared to its average volume of 289,668. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.34 and a quick ratio of 1.34. The company has a 50 day moving average price of $13.89 and a two-hundred day moving average price of $16.80. The firm has a market cap of $368.96 million, a P/E ratio of -22.61 and a beta of 1.89. Bandwidth Inc. has a 1 year low of $11.33 and a 1 year high of $25.02.

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 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 quarter last year, the firm posted $0.38 EPS. On average, sell-side analysts predict that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Bandwidth

In other Bandwidth news, insider Devin M. Krupka sold 3,770 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 transaction of $59,189.00. Following the transaction, the insider now owns 19,188 shares of the company's stock, valued at $301,251.60. This trade represents a 16.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Devesh Agarwal sold 6,538 shares of Bandwidth stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.70, for a total transaction of $102,646.60. Following the completion of the transaction, the chief operating officer now directly owns 53,413 shares of the company's stock, valued at approximately $838,584.10. This represents a 10.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,721 shares of company stock worth $992,965 in the last ninety days. 6.20% of the stock is owned by insiders.

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.