Daryl Raiford Sells 3,188 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 3,188 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $14.47, for a total value of $46,130.36. Following the sale, the chief financial officer now owns 119,707 shares of the company’s stock, valued at approximately $1,732,160.29. This represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Daryl Raiford also recently made the following trade(s):

• On Monday, June 2nd, Daryl Raiford sold 2,630 shares of Bandwidth stock. The shares were sold at an average price of $14.40, for a total value of $37,872.00.
• On Friday, May 30th, Daryl Raiford sold 2,655 shares of Bandwidth stock. The shares were sold at an average price of $14.11, for a total transaction of $37,462.05.
• On Thursday, May 29th, Daryl Raiford sold 2,233 shares of Bandwidth stock. The shares were sold at an average price of $14.47, for a total transaction of $32,311.51.

Bandwidth Stock Down 0.6%

Shares of BAND stock opened at $14.42 on Thursday. The stock has a market cap of $429.18 million, a P/E ratio of -25.30 and a beta of 1.88. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a fifty day moving average price of $13.16 and a 200 day moving average price of $15.94. Bandwidth Inc. has a one year low of $11.33 and a one year high of $23.90.

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

Institutional Trading of Bandwidth

Institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its position in shares of Bandwidth by 12.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 300,076 shares of the company’s stock worth $5,107,000 after purchasing an additional 32,709 shares in the last quarter. Versor Investments LP raised its stake in shares of Bandwidth by 136.1% in the fourth quarter. Versor Investments LP now owns 27,757 shares of the company’s stock valued at $472,000 after acquiring an additional 16,000 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new position in shares of Bandwidth in the 4th quarter worth approximately $384,000. Vanguard Group Inc. grew its position in Bandwidth by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 1,769,027 shares of the company’s stock worth $30,109,000 after acquiring an additional 73,623 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Bandwidth by 9.9% during the 4th 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. Institutional investors and hedge funds own 68.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BAND shares. Morgan Stanley decreased their price target on Bandwidth from $18.00 to $11.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. Needham & Company LLC started coverage on shares of Bandwidth in a report on Wednesday, May 7th. They set a “buy” rating and a $20.00 price target for the company. JMP Securities reissued a “market outperform” rating and set a $36.00 price objective on shares of Bandwidth in a research report on Thursday, May 15th. Robert W. Baird dropped their price target on Bandwidth from $20.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Finally, Barclays dropped their target price on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.80.

Bandwidth Company 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.