Bandwidth Inc. (NASDAQ:BAND) CFO Sells $22,693.95 in Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 1,305 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $17.39, for a total value of $22,693.95. Following the completion of the sale, the chief financial officer now owns 96,522 shares of the company’s stock, valued at approximately $1,678,517.58. This trade represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, November 29th, Daryl Raiford sold 10,389 shares of Bandwidth stock. The shares were sold at an average price of $21.26, for a total transaction of $220,870.14.
• 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 transaction of $90,479.70.

Bandwidth Stock Performance

Shares of BAND traded up $0.45 during mid-day trading on Monday, reaching $17.47. The company had a trading volume of 221,689 shares, compared to its average volume of 270,030. The stock has a market capitalization of $480.60 million, a P/E ratio of -18.78 and a beta of 1.52. Bandwidth Inc. has a 52-week low of $11.90 and a 52-week high of $25.02. The stock has a 50 day moving average of $19.10 and a two-hundred day moving average of $18.13. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.83.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.32 by $0.11. The business had revenue of $193.90 million for the quarter, compared to analyst estimates of $182.05 million. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The business’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 EPS. On average, analysts expect that Bandwidth Inc. will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BAND. Franklin Resources Inc. grew its position in shares of Bandwidth by 40.9% during the 3rd quarter. Franklin Resources Inc. now owns 77,481 shares of the company’s stock valued at $1,325,000 after acquiring an additional 22,505 shares during the period. Geode Capital Management LLC grew its holdings in Bandwidth by 3.6% in the third 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 period. Barclays PLC increased its position in shares of Bandwidth by 9.1% in the third quarter. Barclays PLC now owns 224,497 shares of the company’s stock valued at $3,931,000 after buying an additional 18,778 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Bandwidth during the 3rd quarter worth approximately $453,000. Finally, State Street Corp lifted its position in shares of Bandwidth by 3.7% during the 3rd quarter. State Street Corp now owns 655,768 shares of the company’s stock valued at $11,482,000 after buying an additional 23,352 shares in the last quarter. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BAND shares. Morgan Stanley upped their target price on Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a research report on Wednesday, December 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a report on Friday, November 1st. Finally, Robert W. Baird increased their price target on shares of Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.83.

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.