Bandwidth Inc. (NASDAQ:BAND) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. grew its holdings in Bandwidth Inc. (NASDAQ:BAND - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,769,027 shares of the company's stock after purchasing an additional 73,623 shares during the period. Vanguard Group Inc. owned approximately 6.43% of Bandwidth worth $30,109,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BAND. SBI Securities Co. Ltd. purchased a new position in Bandwidth during the fourth quarter worth about $69,000. one8zero8 LLC acquired a new stake in Bandwidth in the 4th quarter valued at approximately $170,000. SG Americas Securities LLC raised its position in 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 purchasing an additional 1,407 shares during the period. Inceptionr LLC acquired a new position in Bandwidth during the fourth quarter worth $202,000. Finally, AlphaQuest LLC grew its stake in shares of Bandwidth by 162.1% in the fourth quarter. AlphaQuest LLC now owns 17,684 shares of the company's stock valued at $301,000 after buying an additional 10,936 shares in the last quarter. 68.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, General Counsel Richard Brandon Asbill sold 9,878 shares of the company'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 of the company's stock, valued at $647,319. This represents a 18.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daryl Raiford sold 24,253 shares of Bandwidth stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $15.58, for a total value of $377,861.74. Following the transaction, the chief financial officer now directly owns 113,795 shares in the company, valued at approximately $1,772,926.10. This trade represents a 17.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,220 shares of company stock worth $1,000,954. Corporate insiders own 6.20% of the company's stock.

Bandwidth Stock Down 2.6 %

NASDAQ:BAND traded down $0.32 during trading hours on Friday, hitting $11.82. The company's stock had a trading volume of 214,256 shares, compared to its average volume of 288,650. Bandwidth Inc. has a 52-week low of $11.47 and a 52-week high of $25.02. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $338.34 million, a P/E ratio of -20.74 and a beta of 1.89. The stock has a fifty day moving average of $14.78 and a 200-day moving average of $17.04.

Bandwidth (NASDAQ:BAND - Get Free Report) last released 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 business had revenue of $209.97 million during the quarter, compared to analysts' expectations 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 quarter in the previous year, the company posted $0.38 EPS. On average, equities analysts forecast that Bandwidth Inc. will post 0.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on BAND. Needham & Company LLC restated a "hold" rating on shares of Bandwidth in a report on Friday, February 21st. William Blair reaffirmed an "outperform" rating on shares of Bandwidth in a research note on Friday, February 21st. Morgan Stanley cut their price objective on Bandwidth from $18.00 to $11.00 and set an "underweight" rating on the stock in a research report on Wednesday. Finally, Barclays lowered their target price on Bandwidth from $25.00 to $22.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Bandwidth has an average rating of "Moderate Buy" and a consensus target price 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.