22,568 Shares in Bandwidth Inc. (NASDAQ:BAND) Purchased by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC purchased a new stake in Bandwidth Inc. (NASDAQ:BAND - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 22,568 shares of the company's stock, valued at approximately $384,000. Counterpoint Mutual Funds LLC owned 0.08% of Bandwidth at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of 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 purchasing an additional 200,387 shares during the period. FMR LLC increased its holdings in Bandwidth by 70.3% in the third quarter. FMR LLC now owns 371,215 shares of the company's stock valued at $6,500,000 after buying an additional 153,223 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Bandwidth by 38.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 267,367 shares of the company's stock worth $4,682,000 after acquiring an additional 73,795 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Bandwidth during the 3rd quarter worth about $747,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Bandwidth during the 3rd quarter valued at about $453,000. Hedge funds and other institutional investors own 68.53% of the company's stock.

Insider Transactions at Bandwidth

In other news, CEO David A. Morken sold 2,777 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $17.39, for a total transaction of $48,292.03. Following the completion of the transaction, the chief executive officer now directly owns 109,783 shares in the company, valued at approximately $1,909,126.37. This represents a 2.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Richard Brandon Asbill sold 9,878 shares of Bandwidth 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 sale, the general counsel now owns 42,475 shares of the company's stock, valued at approximately $647,319. This represents a 18.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,510 shares of company stock worth $1,109,806 in the last quarter. Company insiders own 6.20% of the company's stock.

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Bandwidth Price Performance

Shares of NASDAQ:BAND traded up $0.08 during midday trading on Friday, hitting $15.10. The company's stock had a trading volume of 238,813 shares, compared to its average volume of 276,319. Bandwidth Inc. has a 12-month low of $13.51 and a 12-month high of $25.02. The company has a market cap of $432.22 million, a P/E ratio of -26.49 and a beta of 1.57. 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 business's 50 day simple moving average is $16.62 and its 200 day simple moving average is $17.69.

Bandwidth (NASDAQ:BAND - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.02 earnings per share 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 company had revenue of $209.97 million for the quarter, compared to analyst estimates of $203.68 million. During the same quarter in the prior year, the firm earned $0.38 earnings per share. On average, analysts forecast that Bandwidth Inc. will post 0.22 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BAND shares. Barclays reduced their price target on 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 reissued a "hold" rating on shares of Bandwidth in a report on Friday, February 21st. Finally, Morgan Stanley increased their price objective on shares of Bandwidth from $17.00 to $18.00 and gave the company an "underweight" rating in a report on Wednesday, December 18th. One 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. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $28.33.

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.