Dynamic Technology Lab Private Ltd purchased a new stake in Bandwidth Inc. (NASDAQ:BAND - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 42,667 shares of the company's stock, valued at approximately $747,000. Dynamic Technology Lab Private Ltd owned about 0.16% of Bandwidth at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of BAND. Los Angeles Capital Management LLC lifted its holdings in Bandwidth by 3.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 21,221 shares of the company's stock valued at $372,000 after purchasing an additional 740 shares in the last quarter. nVerses Capital LLC boosted its position in Bandwidth by 80.0% during the third quarter. nVerses Capital LLC now owns 1,800 shares of the company's stock worth $32,000 after acquiring an additional 800 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Bandwidth by 10.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,713 shares of the company's stock worth $269,000 after acquiring an additional 1,334 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in Bandwidth by 2.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 50,374 shares of the company's stock valued at $850,000 after acquiring an additional 1,342 shares during the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of Bandwidth during the 2nd quarter worth $30,000. 68.53% of the stock is owned by hedge funds and other institutional investors.
Bandwidth Price Performance
NASDAQ:BAND traded down $0.58 during trading hours on Friday, hitting $21.03. The stock had a trading volume of 394,980 shares, compared to its average volume of 309,029. The business has a 50 day simple moving average of $18.50 and a two-hundred day simple moving average of $18.37. Bandwidth Inc. has a 1-year low of $10.88 and a 1-year high of $25.02. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.83.
Bandwidth (NASDAQ:BAND - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.11. The firm had revenue of $193.90 million for the quarter, compared to the consensus estimate of $182.05 million. Bandwidth had a negative net margin of 2.23% and a negative return on equity of 0.89%. The firm's quarterly revenue was up 27.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 EPS. Analysts expect that Bandwidth Inc. will post 0.08 EPS for the current year.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the company. JMP Securities reiterated a "market outperform" rating and issued a $36.00 target price on shares of Bandwidth in a research note on Tuesday, August 27th. Robert W. Baird increased their price objective on shares of Bandwidth from $19.00 to $22.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Bandwidth in a research report on Friday, November 1st. Finally, Barclays cut their price objective on Bandwidth from $28.00 to $25.00 and set an "overweight" rating on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $28.33.
Read Our Latest Analysis on Bandwidth
Insider Buying and Selling
In related news, CFO Daryl Raiford sold 4,350 shares of Bandwidth stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $16.97, for a total value of $73,819.50. Following the completion of the transaction, the chief financial officer now directly owns 71,546 shares in the company, valued at approximately $1,214,135.62. This trade represents a 5.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 4,455 shares of company stock worth $75,786. 6.20% of the stock is currently owned by corporate insiders.
Bandwidth Profile
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Free Report)
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.
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