Daryl Raiford Sells 24,253 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) CFO Daryl Raiford sold 24,253 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $15.58, for a total transaction of $377,861.74. Following the completion of the sale, the chief financial officer now directly owns 113,795 shares in the company, valued at approximately $1,772,926.10. The trade was a 17.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Daryl Raiford also recently made the following trade(s):

• On Monday, January 6th, Daryl Raiford sold 1,305 shares of Bandwidth stock. The shares were sold at an average price of $17.39, for a total transaction of $22,693.95.

Bandwidth Price Performance

NASDAQ:BAND traded down $0.19 on Friday, hitting $15.13. The company had a trading volume of 263,047 shares, compared to its average volume of 280,380. 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 current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90. The firm has a 50 day moving average of $16.98 and a two-hundred day moving average of $17.84. Bandwidth Inc. has a 52 week low of $13.51 and a 52 week high of $25.02.

Bandwidth (NASDAQ:BAND - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.36). The company had revenue of $209.97 million during the quarter, compared to the consensus estimate 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 previous year, the company earned $0.38 EPS. On average, research analysts anticipate that Bandwidth Inc. will post 0.22 earnings per share for the current year.

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Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BAND shares. William Blair reiterated an "outperform" rating on shares of Bandwidth in a research note on Friday, February 21st. Needham & Company LLC restated a "hold" rating on shares of Bandwidth in a research report on Friday, February 21st. Morgan Stanley increased their price target on shares of Bandwidth from $17.00 to $18.00 and gave the stock an "underweight" rating in a research report on Wednesday, December 18th. Finally, Barclays reduced their price target on shares of Bandwidth from $25.00 to $22.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. One 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. Based on data from MarketBeat.com, Bandwidth currently has a consensus rating of "Moderate Buy" and an average price target of $28.33.

Hedge Funds Weigh In On Bandwidth

Large investors have recently modified their holdings of the business. Covestor Ltd bought a new position in shares of Bandwidth during the fourth quarter valued at $25,000. Quarry LP raised its stake in shares of Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company's stock valued at $36,000 after acquiring an additional 1,245 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Bandwidth during the fourth quarter valued at $50,000. SBI Securities Co. Ltd. bought a new position in shares of Bandwidth during the fourth quarter valued at $69,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Bandwidth during the third quarter valued at $74,000. Institutional investors own 68.53% of the company's stock.

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.