Segall Bryant & Hamill LLC Boosts Stake in Bandwidth Inc. (NASDAQ:BAND)

Segall Bryant & Hamill LLC increased its stake in shares of Bandwidth Inc. (NASDAQ:BAND - Free Report) by 260.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,087 shares of the company's stock after purchasing an additional 88,198 shares during the quarter. Segall Bryant & Hamill LLC owned 0.44% of Bandwidth worth $2,078,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BAND. FMR LLC boosted its stake in shares of Bandwidth by 70.3% in the 3rd quarter. FMR LLC now owns 371,215 shares of the company's stock valued at $6,500,000 after buying an additional 153,223 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Bandwidth in the third quarter valued at approximately $747,000. Charles Schwab Investment Management Inc. grew its holdings in Bandwidth by 38.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 267,367 shares of the company's stock worth $4,682,000 after acquiring an additional 73,795 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Bandwidth by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 568,667 shares of the company's stock valued at $9,960,000 after purchasing an additional 19,832 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Bandwidth by 3.7% in the 3rd quarter. State Street Corp now owns 655,768 shares of the company's stock valued at $11,482,000 after purchasing an additional 23,352 shares in the last quarter. 68.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on BAND. William Blair reissued an "outperform" rating on shares of Bandwidth in a report on Friday, February 21st. Barclays lowered their price objective on Bandwidth from $25.00 to $22.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Morgan Stanley raised their target price on Bandwidth from $17.00 to $18.00 and gave the stock an "underweight" rating in a research report on Wednesday, December 18th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Bandwidth in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $28.33.

Insider Activity at Bandwidth

In related news, insider Devin M. Krupka sold 3,770 shares of Bandwidth stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $15.70, for a total value of $59,189.00. Following the transaction, the insider now directly owns 19,188 shares in the company, valued at $301,251.60. This trade represents a 16.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David A. Morken sold 2,777 shares of the business's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $17.39, for a total transaction of $48,292.03. Following the completion of the transaction, the chief executive officer now directly owns 109,783 shares in the company, valued at $1,909,126.37. This represents a 2.47 % 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 worth $1,109,806 in the last quarter. Company insiders own 6.20% of the company's stock.

Bandwidth Stock Performance

NASDAQ:BAND traded up $0.44 during mid-day trading on Tuesday, reaching $13.54. 380,010 shares of the stock were exchanged, compared to its average volume of 282,778. 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 1 year low of $12.75 and a 1 year high of $25.02. The company has a 50 day simple moving average of $16.43 and a 200-day simple moving average of $17.60. The stock has a market capitalization of $387.57 million, a P/E ratio of -23.75 and a beta of 1.57.

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

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.