Dana Investment Advisors Inc. Lowers Position in Bandwidth Inc. (NASDAQ:BAND)

Dana Investment Advisors Inc. trimmed its stake in Bandwidth Inc. (NASDAQ:BAND - Free Report) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 449,865 shares of the company's stock after selling 28,961 shares during the quarter. Dana Investment Advisors Inc. owned approximately 1.64% of Bandwidth worth $7,657,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of BAND. Charles Schwab Investment Management Inc. boosted its stake in shares of Bandwidth by 12.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 300,076 shares of the company's stock worth $5,107,000 after acquiring an additional 32,709 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Bandwidth during the 4th quarter worth approximately $69,000. Versor Investments LP boosted its stake in shares of 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 acquiring an additional 16,000 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Bandwidth by 2.2% during the 4th quarter. Bank of New York Mellon Corp now owns 83,175 shares of the company's stock worth $1,416,000 after acquiring an additional 1,811 shares during the period. Finally, Parcion Private Wealth LLC boosted its stake in shares of Bandwidth by 1.7% during the 4th quarter. Parcion Private Wealth LLC now owns 232,137 shares of the company's stock worth $3,951,000 after acquiring an additional 3,927 shares during the period. 68.53% of the stock is currently owned by institutional investors.

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Insider Activity

In other news, CEO David A. Morken sold 2,777 shares of the business's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $17.39, for a total value of $48,292.03. Following the transaction, the chief executive officer now directly owns 109,783 shares of the company's stock, valued at $1,909,126.37. The trade was a 2.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Richard Brandon Asbill sold 5,629 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $15.70, for a total value of $88,375.30. Following the completion of the transaction, the general counsel now directly owns 57,475 shares in the company, valued at $902,357.50. This represents a 8.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,510 shares of company stock valued at $1,109,806 in the last ninety days. 6.20% of the stock is owned by company insiders.

Bandwidth Price Performance

Shares of BAND traded down $0.19 during midday trading on Friday, hitting $15.13. The company's stock had a trading volume of 263,047 shares, compared to its average volume of 280,380. The company's fifty day simple moving average is $17.02 and its two-hundred day simple moving average is $17.85. Bandwidth Inc. has a one year low of $13.51 and a one year high of $25.02. The stock has a market capitalization of $433.08 million, a price-to-earnings ratio of -26.54 and a beta of 1.57. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.90.

Bandwidth (NASDAQ:BAND - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.36). The business had revenue of $209.97 million during the quarter, compared to analyst estimates of $203.68 million. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. During the same period in the prior year, the firm earned $0.38 earnings per share. As a group, equities analysts expect that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on BAND. Needham & Company LLC reissued a "hold" rating on shares of Bandwidth in a report on Friday, February 21st. Morgan Stanley lifted their price target on Bandwidth from $17.00 to $18.00 and gave the stock an "underweight" rating in a report on Wednesday, December 18th. Barclays dropped 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. Finally, William Blair reissued an "outperform" rating on shares of Bandwidth in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average 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.