Insider Selling: Bandwidth Inc. (NASDAQ:BAND) Insider Sells $10,237.50 in Stock

Bandwidth Inc. (NASDAQ:BAND) insider Devin M. Krupka sold 546 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $18.75, for a total value of $10,237.50. Following the transaction, the insider now owns 9,707 shares of the company’s stock, valued at $182,006.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Bandwidth Stock Performance

BAND stock opened at $18.05 on Thursday. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 1.41. The business’s fifty day simple moving average is $16.07 and its two-hundred day simple moving average is $13.47. Bandwidth Inc. has a twelve month low of $9.34 and a twelve month high of $21.68. The firm has a market cap of $474.17 million, a price-to-earnings ratio of -17.19 and a beta of 1.51.

Bandwidth (NASDAQ:BAND) last released its earnings results on Wednesday, February 28th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Bandwidth had a negative return on equity of 3.10% and a negative net margin of 2.72%. The business had revenue of $165.00 million during the quarter, compared to analysts’ expectations of $154.17 million. During the same quarter in the previous year, the business earned $0.04 EPS. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts predict that Bandwidth Inc. will post 0.24 earnings per share for the current year.

Hedge Funds Weigh In On Bandwidth

Several institutional investors have recently made changes to their positions in BAND. Quarry LP increased its stake in shares of Bandwidth by 310.6% during the first quarter. Quarry LP now owns 2,008 shares of the company’s stock valued at $31,000 after buying an additional 1,519 shares during the period. DHJJ Financial Advisors Ltd. purchased a new position in shares of Bandwidth during the third quarter valued at $34,000. Tower Research Capital LLC TRC grew its stake in Bandwidth by 36.8% in the third quarter. Tower Research Capital LLC TRC now owns 2,946 shares of the company’s stock valued at $36,000 after purchasing an additional 792 shares during the last quarter. Point72 Middle East FZE purchased a new position in Bandwidth in the fourth quarter valued at about $51,000. Finally, Acadian Asset Management LLC purchased a new position in Bandwidth in the first quarter valued at about $58,000. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BAND. Barclays increased their target price on Bandwidth from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Canaccord Genuity Group raised their price target on Bandwidth from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Finally, KeyCorp raised their price target on Bandwidth from $16.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Bandwidth currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.71.

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.