Charles Schwab Investment Management Inc. Purchases 32,709 Shares of Bandwidth Inc. (NASDAQ:BAND)

Charles Schwab Investment Management Inc. grew its stake in shares of Bandwidth Inc. (NASDAQ:BAND - Free Report) by 12.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 300,076 shares of the company's stock after buying an additional 32,709 shares during the period. Charles Schwab Investment Management Inc. owned 1.09% of Bandwidth worth $5,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. FMR LLC grew its stake in Bandwidth by 70.3% during the third quarter. FMR LLC now owns 371,215 shares of the company's stock valued at $6,500,000 after acquiring an additional 153,223 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Bandwidth during the third quarter valued at about $747,000. Geode Capital Management LLC grew its position in shares of Bandwidth by 3.6% during the third quarter. Geode Capital Management LLC now owns 568,667 shares of the company's stock valued at $9,960,000 after purchasing an additional 19,832 shares in the last quarter. State Street Corp increased its holdings in shares of Bandwidth by 3.7% in the third quarter. State Street Corp now owns 655,768 shares of the company's stock worth $11,482,000 after purchasing an additional 23,352 shares during the last quarter. Finally, Versor Investments LP lifted its position in shares of Bandwidth by 136.1% in the fourth quarter. Versor Investments LP now owns 27,757 shares of the company's stock worth $472,000 after buying an additional 16,000 shares in the last quarter. Hedge funds and other institutional investors own 68.53% of the company's stock.

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Bandwidth Trading Down 6.0 %

BAND traded down $0.85 during trading on Friday, reaching $13.37. The company had a trading volume of 340,795 shares, compared to its average volume of 282,388. 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 business has a 50 day simple moving average of $16.49 and a 200-day simple moving average of $17.61. The stock has a market cap of $382.70 million, a P/E ratio of -23.46 and a beta of 1.57. Bandwidth Inc. has a 52 week low of $13.31 and a 52 week high of $25.02.

Bandwidth (NASDAQ:BAND - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.36). The firm had revenue of $209.97 million during the quarter, compared to the consensus estimate of $203.68 million. Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. During the same quarter last year, the business posted $0.38 EPS. On average, equities analysts anticipate that Bandwidth Inc. will post 0.22 EPS for the current fiscal year.

Insider Activity

In other news, CEO David A. Morken sold 2,777 shares of the business's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $17.39, for a total transaction of $48,292.03. Following the completion of the sale, the chief executive officer now directly owns 109,783 shares of the company's stock, valued at approximately $1,909,126.37. The trade was a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Richard Brandon Asbill sold 9,878 shares of the company'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 completion of the transaction, the general counsel now owns 42,475 shares in the company, valued at approximately $647,319. The trade was a 18.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,510 shares of company stock valued at $1,109,806. 6.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

BAND has been the subject of several research analyst reports. Needham & Company LLC restated a "hold" rating on shares of Bandwidth in a report on Friday, February 21st. Morgan Stanley raised their target price on shares of Bandwidth from $17.00 to $18.00 and gave the company an "underweight" rating in a report on Wednesday, December 18th. Barclays decreased their price target on shares of Bandwidth from $25.00 to $22.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Finally, William Blair reissued an "outperform" rating on shares of Bandwidth in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $28.33.

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.