Bandwidth Inc. (NASDAQ:BAND - Get Free Report) insider Devin M. Krupka sold 3,770 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $15.70, for a total transaction of $59,189.00. Following the sale, the insider now directly owns 19,188 shares in the company, valued at approximately $301,251.60. This represents a 16.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Bandwidth Price Performance
Shares of Bandwidth stock opened at $15.17 on Wednesday. The firm has a market cap of $434.23 million, a PE ratio of -26.61 and a beta of 1.57. The business has a 50-day moving average price of $17.17 and a 200 day moving average price of $17.90. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.90. Bandwidth Inc. has a twelve month low of $13.51 and a twelve month high of $25.02.
Bandwidth (NASDAQ:BAND - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $209.97 million for the quarter, compared to analyst estimates of $203.68 million. During the same period in the previous year, the company earned $0.38 earnings per share. Sell-side analysts predict that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.
Institutional Trading of Bandwidth
Institutional investors and hedge funds have recently modified their holdings of the stock. Covestor Ltd purchased a new position in Bandwidth in the 4th quarter valued at about $25,000. Quarry LP raised its holdings in shares of Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company's stock valued at $36,000 after acquiring an additional 1,245 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Bandwidth in the fourth quarter valued at approximately $50,000. SBI Securities Co. Ltd. acquired a new stake in shares of Bandwidth in the fourth quarter worth approximately $69,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Bandwidth during the third quarter worth approximately $74,000. Hedge funds and other institutional investors own 68.53% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. William Blair reissued an "outperform" rating on shares of Bandwidth in a research report on Friday, February 21st. Barclays dropped 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. Morgan Stanley upped their price objective on shares of Bandwidth from $17.00 to $18.00 and gave the company an "underweight" rating in a report on Wednesday, December 18th. Finally, Needham & Company LLC restated a "hold" rating on shares of Bandwidth in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $28.33.
Check Out Our Latest Report on BAND
Bandwidth Company Profile
(
Get Free Report)
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.
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