Segall Bryant & Hamill LLC Has $593,000 Stake in Bandwidth Inc. (NASDAQ:BAND)

Segall Bryant & Hamill LLC lowered its holdings in shares of Bandwidth Inc. (NASDAQ:BAND - Free Report) by 61.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 33,889 shares of the company's stock after selling 54,798 shares during the period. Segall Bryant & Hamill LLC owned 0.12% of Bandwidth worth $593,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of BAND. Innealta Capital LLC bought a new position in shares of Bandwidth during the 2nd quarter worth approximately $30,000. 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 purchasing an additional 800 shares during the period. Redwood Wealth Management Group LLC acquired a new position in shares of Bandwidth in the second quarter valued at $35,000. Daiwa Securities Group Inc. bought a new position in shares of Bandwidth in the second quarter valued at about $57,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Bandwidth during the 3rd quarter worth about $74,000. Institutional investors and hedge funds own 68.53% of the company's stock.

Insiders Place Their Bets

In other Bandwidth news, CFO Daryl Raiford sold 4,350 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $16.97, for a total transaction of $73,819.50. Following the completion of the sale, the chief financial officer now directly owns 71,546 shares in the company, valued at $1,214,135.62. This 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 available at the SEC website. Insiders have sold 8,630 shares of company stock worth $148,515 over the last ninety days. Corporate insiders own 6.20% of the company's stock.

Bandwidth Price Performance

Shares of BAND stock traded up $1.17 during trading on Monday, hitting $21.84. The company had a trading volume of 293,546 shares, compared to its average volume of 309,751. The firm has a market capitalization of $600.82 million, a P/E ratio of -23.33 and a beta of 1.50. Bandwidth Inc. has a one year low of $10.60 and a one year high of $25.02. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.29 and a current ratio of 1.29. The stock's 50-day moving average price is $18.17 and its 200 day moving average price is $18.32.

Bandwidth (NASDAQ:BAND - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.11. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The firm had revenue of $193.90 million during the quarter, compared to the consensus estimate of $182.05 million. During the same period in the prior year, the company posted $0.03 EPS. The company's revenue was up 27.6% compared to the same quarter last year. Equities analysts expect that Bandwidth Inc. will post 0.08 EPS for the current fiscal year.

Analysts Set New Price Targets

BAND has been the topic of a number of research reports. Barclays decreased their price target on shares of Bandwidth from $28.00 to $25.00 and set an "overweight" rating on the stock in a research note on Friday, August 2nd. Robert W. Baird upped their target price on Bandwidth from $19.00 to $22.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. Needham & Company LLC reissued a "hold" rating on shares of Bandwidth in a report on Friday, November 1st. Finally, JMP Securities restated a "market outperform" rating and issued a $36.00 price target on shares of Bandwidth in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $28.33.

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.