Bandwidth Inc. (NASDAQ:BAND) CEO Sells $214,352.10 in Stock

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) CEO David A. Morken sold 13,653 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.70, for a total value of $214,352.10. Following the transaction, the chief executive officer now directly owns 142,439 shares in the company, valued at $2,236,292.30. This represents a 8.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Bandwidth Price Performance

Bandwidth stock traded down $0.19 during trading hours on Friday, hitting $15.13. The stock had a trading volume of 263,047 shares, compared to its average volume of 280,380. 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 stock has a market capitalization of $433.08 million, a price-to-earnings ratio of -26.54 and a beta of 1.57. Bandwidth Inc. has a 1-year low of $13.51 and a 1-year high of $25.02. The stock's fifty day moving average is $16.98 and its two-hundred day moving average is $17.84.

Bandwidth (NASDAQ:BAND - Get Free Report) last issued its quarterly earnings data 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). Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. The company had revenue of $209.97 million during the quarter, compared to analysts' expectations of $203.68 million. During the same quarter in the prior year, the company earned $0.38 earnings per share. As a group, analysts predict that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.

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Institutional Trading of Bandwidth

Institutional investors and hedge funds have recently made changes to their positions in the stock. Covestor Ltd purchased a new stake in shares of Bandwidth in the fourth quarter valued at $25,000. Quarry LP lifted its position in shares of Bandwidth by 157.6% in 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 in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Bandwidth in the fourth quarter valued at $50,000. SBI Securities Co. Ltd. purchased a new stake in shares of Bandwidth in the fourth quarter valued at $69,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Bandwidth in the third quarter valued at $74,000. 68.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on BAND shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Bandwidth in a report on Friday, February 21st. Morgan Stanley upped their target price on Bandwidth from $17.00 to $18.00 and gave the company an "underweight" rating in a report on Wednesday, December 18th. William Blair reissued an "outperform" rating on shares of Bandwidth in a report on Friday, February 21st. Finally, Barclays lowered their target price on Bandwidth from $25.00 to $22.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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.