Bandwidth Inc. (NASDAQ:BAND) CEO David A. Morken Sells 2,777 Shares

Bandwidth Inc. (NASDAQ:BAND) CEO David A. Morken sold 2,777 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $17.39, for a total value of $48,292.03. Following the transaction, the chief executive officer now directly owns 109,783 shares of the company’s stock, valued at approximately $1,909,126.37. This trade represents a 2.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Bandwidth Stock Performance

Shares of BAND stock opened at $16.41 on Wednesday. The company has a fifty day moving average price of $19.05 and a two-hundred day moving average price of $18.13. Bandwidth Inc. has a one year low of $11.90 and a one year high of $25.02. The stock has a market cap of $451.44 million, a P/E ratio of -17.65 and a beta of 1.52. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.29 and a quick ratio of 1.29.

Bandwidth (NASDAQ:BAND) last issued its 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 net margin of 2.23% and a negative return on equity of 0.89%. The business had revenue of $193.90 million during the quarter, compared to the consensus estimate of $182.05 million. During the same period last year, the business posted $0.03 EPS. Bandwidth’s revenue was up 27.6% on a year-over-year basis. As a group, equities analysts predict that Bandwidth Inc. will post 0.08 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on BAND. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a report on Friday, November 1st. Robert W. Baird increased their price objective on shares of Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, Morgan Stanley lifted 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.83.

Institutional Trading of Bandwidth

A number of hedge funds have recently made changes to their positions in BAND. Franklin Resources Inc. raised its stake in Bandwidth by 40.9% in 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 raised its position in shares of 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 lifted its stake in shares of Bandwidth by 9.1% during the 3rd quarter. Barclays PLC now owns 224,497 shares of the company’s stock worth $3,931,000 after buying an additional 18,778 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Bandwidth during the 3rd quarter worth about $453,000. Finally, State Street Corp grew its stake in Bandwidth by 3.7% in 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 during the last quarter. 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.