Renaissance Technologies LLC Increases Stock Holdings in Bandwidth Inc. (NASDAQ:BAND)

Renaissance Technologies LLC increased its position in shares of Bandwidth Inc. (NASDAQ:BAND - Free Report) by 15.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 651,300 shares of the company's stock after acquiring an additional 86,200 shares during the quarter. Renaissance Technologies LLC owned about 2.37% of Bandwidth worth $11,085,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of BAND. New Age Alpha Advisors LLC purchased a new stake in shares of Bandwidth during the fourth quarter worth $50,000. SBI Securities Co. Ltd. purchased a new position in shares of Bandwidth during the fourth quarter worth about $69,000. one8zero8 LLC acquired a new stake in shares of Bandwidth in the 4th quarter valued at approximately $170,000. SG Americas Securities LLC increased its position in shares of Bandwidth by 14.5% in the fourth quarter. SG Americas Securities LLC now owns 11,102 shares of the company's stock valued at $189,000 after buying an additional 1,407 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new position in Bandwidth in the 4th quarter valued at about $200,000. Hedge funds and other institutional investors own 68.53% of the company's stock.

Insider Activity at Bandwidth

In other Bandwidth news, General Counsel Richard Brandon Asbill sold 5,629 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $15.70, for a total transaction of $88,375.30. Following the completion of the sale, the general counsel now directly owns 57,475 shares of the company's stock, valued at $902,357.50. This trade represents a 8.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David A. Morken sold 13,653 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $15.70, for a total transaction of $214,352.10. Following the sale, the chief executive officer now owns 142,439 shares in the company, valued at $2,236,292.30. This represents a 8.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,220 shares of company stock worth $1,000,954 over the last quarter. Corporate insiders own 6.20% of the company's stock.

Bandwidth Trading Down 2.6 %

Shares of BAND stock traded down $0.32 during trading hours on Friday, hitting $11.82. 214,256 shares of the company's stock traded hands, compared to its average volume of 288,650. The stock's 50 day simple moving average is $14.78 and its 200 day simple moving average is $17.04. 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 Inc. has a 12 month low of $11.47 and a 12 month high of $25.02. The stock has a market cap of $338.34 million, a PE ratio of -20.74 and a beta of 1.89.

Bandwidth (NASDAQ:BAND - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $209.97 million during the quarter, compared to analysts' expectations of $203.68 million. During the same quarter in the previous year, the firm earned $0.38 EPS. On average, sell-side analysts anticipate that Bandwidth Inc. will post 0.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BAND. Needham & Company LLC reiterated a "hold" rating on shares of Bandwidth in a report on Friday, February 21st. William Blair reissued an "outperform" rating on shares of Bandwidth in a report on Friday, February 21st. Morgan Stanley decreased their price objective on Bandwidth from $18.00 to $11.00 and set an "underweight" rating for the company in a research report on Wednesday. Finally, Barclays lowered their price objective on Bandwidth from $25.00 to $22.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $27.17.

About Bandwidth

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.