Insider Selling: Bandwidth Inc. (NASDAQ:BAND) CFO Sells 4,371 Shares of Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 4,371 shares of Bandwidth stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $20.70, for a total value of $90,479.70. Following the sale, the chief financial officer now directly owns 93,451 shares of the company’s stock, valued at approximately $1,934,435.70. This trade represents a 4.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 value of $220,870.14.
• 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 Price Performance

Shares of Bandwidth stock opened at $21.11 on Tuesday. The company’s fifty day simple moving average is $18.66 and its two-hundred day simple moving average is $18.30. Bandwidth Inc. has a 12-month low of $11.01 and a 12-month high of $25.02. The firm has a market cap of $580.74 million, a PE ratio of -22.70 and a beta of 1.50. 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 posted its earnings results on Thursday, October 31st. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.11. The company had revenue of $193.90 million for the quarter, compared to analysts’ expectations of $182.05 million. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. Bandwidth’s quarterly revenue was up 27.6% on a year-over-year basis. During the same period last year, the firm earned $0.03 earnings per share. As a group, equities analysts expect that Bandwidth Inc. will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Bandwidth

A number of hedge funds and other institutional investors have recently made changes to their positions in BAND. Vanguard Group Inc. increased its position in Bandwidth by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 1,536,051 shares of the company’s stock valued at $28,048,000 after purchasing an additional 16,181 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Bandwidth by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,713 shares of the company’s stock valued at $269,000 after buying an additional 1,334 shares during the period. Baillie Gifford & Co. raised its stake in Bandwidth by 40.6% in the second quarter. Baillie Gifford & Co. now owns 30,412 shares of the company’s stock worth $513,000 after buying an additional 8,789 shares in the last quarter. Panagora Asset Management Inc. lifted its holdings in Bandwidth by 50.0% in the second quarter. Panagora Asset Management Inc. now owns 139,592 shares of the company’s stock worth $2,356,000 after buying an additional 46,547 shares during the period. Finally, Innealta Capital LLC bought a new stake in Bandwidth during the 2nd quarter valued at approximately $30,000. Institutional investors own 68.53% of the company’s stock.

Wall Street Analyst Weigh In

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