Jacobs Levy Equity Management Inc. Sells 61,198 Shares of Bandwidth Inc. (NASDAQ:BAND)

Jacobs Levy Equity Management Inc. lessened its position in Bandwidth Inc. (NASDAQ:BAND) by 10.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 518,607 shares of the company’s stock after selling 61,198 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Bandwidth were worth $8,827,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Bandwidth by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 1,769,027 shares of the company’s stock valued at $30,109,000 after purchasing an additional 73,623 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Bandwidth by 9.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company’s stock valued at $21,260,000 after purchasing an additional 112,269 shares in the last quarter. Renaissance Technologies LLC increased its stake in Bandwidth by 15.3% in the fourth quarter. Renaissance Technologies LLC now owns 651,300 shares of the company’s stock valued at $11,085,000 after purchasing an additional 86,200 shares in the last quarter. Geode Capital Management LLC increased its stake in Bandwidth by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 570,910 shares of the company’s stock valued at $9,720,000 after purchasing an additional 2,243 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Bandwidth by 61.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 524,586 shares of the company’s stock valued at $8,928,000 after purchasing an additional 200,387 shares in the last quarter. Institutional investors own 68.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BAND shares. Needham & Company LLC initiated coverage on shares of Bandwidth in a research note on Wednesday, May 7th. They issued a “buy” rating and a $20.00 target price for the company. William Blair reiterated an “outperform” rating on shares of Bandwidth in a report on Friday, February 21st. Morgan Stanley reduced their price target on shares of Bandwidth from $18.00 to $11.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th. Robert W. Baird reduced their price target on shares of Bandwidth from $20.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. Finally, Barclays reduced their price target on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bandwidth presently has an average rating of “Moderate Buy” and a consensus target price of $20.80.

Bandwidth Stock Performance

Shares of BAND opened at $14.34 on Wednesday. Bandwidth Inc. has a 12 month low of $11.33 and a 12 month high of $23.90. The firm has a fifty day simple moving average of $13.32 and a 200 day simple moving average of $16.46. The stock has a market capitalization of $410.47 million, a price-to-earnings ratio of -25.16 and a beta of 1.88. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90.

Bandwidth (NASDAQ:BAND) last announced its earnings results on Wednesday, May 7th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. The business had revenue of $174.24 million during the quarter, compared to analysts’ expectations of $168.96 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. Research analysts forecast that Bandwidth Inc. will post 0.22 EPS for the current fiscal year.

Insider Buying and Selling

In other Bandwidth news, General Counsel Richard Brandon Asbill sold 9,878 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $15.24, for a total value of $150,540.72. Following the completion of the sale, the general counsel now owns 42,475 shares in the company, valued at $647,319. This trade represents a 18.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Daryl Raiford sold 24,253 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $15.58, for a total transaction of $377,861.74. Following the completion of the sale, the chief financial officer now owns 113,795 shares of the company’s stock, valued at approximately $1,772,926.10. This represents a 17.57% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,721 shares of company stock worth $992,965. 6.50% of the stock is owned by insiders.

Bandwidth Profile

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.