Insider Selling: Bandwidth Inc. (NASDAQ:BAND) CEO Sells $214,352.10 in Stock

Bandwidth Inc. (NASDAQ:BAND) CEO David A. Morken sold 13,653 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $15.70, for a total value of $214,352.10. Following the completion of the sale, the chief executive officer now owns 142,439 shares in the company, valued at $2,236,292.30. This trade represents a 8.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Bandwidth Stock Up 0.4 %

Shares of Bandwidth stock opened at $15.32 on Friday. Bandwidth Inc. has a one year low of $13.51 and a one year high of $25.02. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.34 and a quick ratio of 1.34. The stock’s 50-day moving average is $17.07 and its 200 day moving average is $17.87. The firm has a market cap of $438.52 million, a price-to-earnings ratio of -26.88 and a beta of 1.57.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.36). Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. The firm had revenue of $209.97 million for the quarter, compared to analyst estimates of $203.68 million. During the same period last year, the company posted $0.38 earnings per share. Equities research analysts anticipate that Bandwidth Inc. will post 0.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. William Blair reiterated an “outperform” rating on shares of Bandwidth in a research report on Friday, February 21st. 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 restated a “hold” rating on shares of Bandwidth in a research report on Friday, February 21st. Finally, Barclays cut their target price on Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.33.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Bandwidth by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 1,769,027 shares of the company’s stock worth $30,109,000 after buying an additional 73,623 shares during the period. Dimensional Fund Advisors LP raised its stake in Bandwidth by 9.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company’s stock worth $21,260,000 after buying an additional 112,269 shares during the period. State Street Corp raised its stake in Bandwidth by 3.7% during the 3rd quarter. State Street Corp now owns 655,768 shares of the company’s stock worth $11,482,000 after buying an additional 23,352 shares during the period. Renaissance Technologies LLC raised its stake in Bandwidth by 15.3% during the 4th quarter. Renaissance Technologies LLC now owns 651,300 shares of the company’s stock worth $11,085,000 after buying an additional 86,200 shares during the period. Finally, Geode Capital Management LLC raised its stake in Bandwidth by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 570,910 shares of the company’s stock worth $9,720,000 after buying an additional 2,243 shares during the period. 68.53% of the stock is owned by institutional investors and hedge funds.

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.