Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford Sells 10,389 Shares

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 10,389 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $21.26, for a total value of $220,870.14. Following the sale, the chief financial officer now owns 87,220 shares of the company’s stock, valued at approximately $1,854,297.20. This represents a 10.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Daryl Raiford also recently made the following trade(s):

• On Monday, December 2nd, Daryl Raiford sold 4,371 shares of Bandwidth stock. The stock was sold at an average price of $20.70, for a total value of $90,479.70.
• On Tuesday, September 3rd, Daryl Raiford sold 4,350 shares of Bandwidth stock. The stock was sold at an average price of $16.97, for a total value of $73,819.50.

Bandwidth Stock Performance

NASDAQ:BAND opened at $21.11 on Tuesday. The firm has a market capitalization of $580.74 million, a PE ratio of -22.70 and a beta of 1.50. Bandwidth Inc. has a 1 year low of $11.01 and a 1 year high of $25.02. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.83. The firm’s fifty day simple moving average is $18.66 and its 200 day simple moving average is $18.30.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $193.90 million for the quarter, compared to the consensus estimate of $182.05 million. During the same period last year, the business posted $0.03 earnings per share. The firm’s revenue was up 27.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Bandwidth Inc. will post 0.08 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BAND. Hsbc Holdings PLC increased its position in Bandwidth by 143.9% during the second quarter. Hsbc Holdings PLC now owns 55,259 shares of the company’s stock worth $929,000 after acquiring an additional 32,598 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Bandwidth in the 3rd quarter worth $747,000. Squarepoint Ops LLC bought a new position in shares of Bandwidth during the 2nd quarter worth about $1,113,000. Panagora Asset Management Inc. raised its position in shares of Bandwidth by 50.0% during the second quarter. Panagora Asset Management Inc. now owns 139,592 shares of the company’s stock valued at $2,356,000 after buying an additional 46,547 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Bandwidth by 185.5% during the third quarter. Assenagon Asset Management S.A. now owns 341,921 shares of the company’s stock worth $5,987,000 after buying an additional 222,142 shares in the last quarter. 68.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BAND has been the subject of a number of analyst reports. Robert W. Baird lifted their target price on shares of Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a report on Friday, November 1st. Finally, JMP Securities restated a “market outperform” rating and set a $36.00 target price on shares of Bandwidth in a report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.