Sei Investments Co. Sells 35,986 Shares of Bandwidth Inc. (NASDAQ:BAND)

Sei Investments Co. cut its position in Bandwidth Inc. (NASDAQ:BAND - Free Report) by 39.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,608 shares of the company's stock after selling 35,986 shares during the quarter. Sei Investments Co. owned 0.20% of Bandwidth worth $929,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BAND. Counterpoint Mutual Funds LLC acquired a new position in shares of Bandwidth during the 4th quarter worth $384,000. one8zero8 LLC acquired a new position in Bandwidth during the fourth quarter worth about $170,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Bandwidth by 61.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 524,586 shares of the company's stock worth $8,928,000 after acquiring an additional 200,387 shares during the last quarter. AlphaQuest LLC boosted its stake in shares of Bandwidth by 162.1% in the 4th quarter. AlphaQuest LLC now owns 17,684 shares of the company's stock valued at $301,000 after purchasing an additional 10,936 shares in the last quarter. Finally, Inceptionr LLC acquired a new stake in shares of Bandwidth in the 4th quarter valued at approximately $202,000. 68.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, General Counsel Richard Brandon Asbill sold 9,878 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $15.24, for a total value of $150,540.72. Following the completion of the sale, the general counsel now directly owns 42,475 shares in the company, valued at $647,319. This trade represents a 18.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Devin M. Krupka sold 3,770 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was 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 approximately $301,251.60. This trade represents a 16.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,220 shares of company stock worth $1,000,954. Corporate insiders own 6.20% of the company's stock.

Analyst Ratings Changes

BAND has been the subject of several research reports. Needham & Company LLC reissued a "hold" rating on shares of Bandwidth in a research note on Friday, February 21st. William Blair reiterated an "outperform" rating on shares of Bandwidth in a research note on Friday, February 21st. Barclays reduced their price objective on Bandwidth from $25.00 to $22.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Finally, Morgan Stanley lifted their price target on Bandwidth from $17.00 to $18.00 and gave the company an "underweight" rating in a research note on Wednesday, December 18th. One equities 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 stock. According to MarketBeat, Bandwidth currently has a consensus rating of "Moderate Buy" and an average price target of $28.33.

Bandwidth Trading Down 1.7 %

Shares of BAND traded down $0.21 during mid-day trading on Friday, reaching $12.15. 225,029 shares of the company were exchanged, compared to its average volume of 287,740. The business has a 50 day simple moving average of $15.39 and a two-hundred day simple moving average of $17.23. Bandwidth Inc. has a 52 week low of $11.47 and a 52 week high of $25.02. The stock has a market capitalization of $347.78 million, a PE ratio of -21.32 and a beta of 1.89. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.34 and a current ratio of 1.34.

Bandwidth (NASDAQ:BAND - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.36). The firm had revenue of $209.97 million during the quarter, compared to the consensus estimate of $203.68 million. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. During the same period in the prior year, the company posted $0.38 earnings per share. On average, analysts predict that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.

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.