Rebecca Bottorff Sells 16,935 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) insider Rebecca Bottorff sold 16,935 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $15.14, for a total transaction of $256,395.90. Following the sale, the insider now directly owns 43,285 shares in the company, valued at approximately $655,334.90. This represents a 28.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Rebecca Bottorff also recently made the following trade(s):

• On Thursday, May 29th, Rebecca Bottorff sold 2,333 shares of Bandwidth stock. The shares were sold at an average price of $14.47, for a total transaction of $33,758.51.

Bandwidth Stock Up 0.5%

Bandwidth stock opened at $15.16 on Wednesday. The company’s 50 day simple moving average is $13.29 and its 200 day simple moving average is $15.81. Bandwidth Inc. has a fifty-two week low of $11.33 and a fifty-two week high of $23.90. The firm has a market capitalization of $451.21 million, a price-to-earnings ratio of -26.60 and a beta of 1.82. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.34 and a quick ratio of 1.34.

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. The firm had revenue of $174.24 million for the quarter, compared to the consensus estimate of $168.96 million. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the company posted $0.27 EPS. As a group, sell-side analysts anticipate that Bandwidth Inc. will post 0.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of Bandwidth in a research note on Friday, February 21st. Barclays reduced their price objective on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Robert W. Baird reduced their price objective on shares of Bandwidth from $20.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Morgan Stanley reduced their price objective on shares of Bandwidth from $18.00 to $11.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. Finally, JMP Securities reissued a “market outperform” rating and set a $36.00 price objective on shares of Bandwidth in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Bandwidth has a consensus rating of “Moderate Buy” and a consensus target price of $20.80.

Institutional Trading of Bandwidth

Several hedge funds have recently bought and sold shares of BAND. Nuveen LLC acquired a new stake in Bandwidth during the 1st quarter worth approximately $7,916,000. AQR Capital Management LLC raised its holdings in Bandwidth by 303.1% during the 1st quarter. AQR Capital Management LLC now owns 393,907 shares of the company’s stock worth $5,160,000 after buying an additional 296,199 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Bandwidth by 61.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 524,586 shares of the company’s stock worth $8,928,000 after buying an additional 200,387 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Bandwidth by 88.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 285,559 shares of the company’s stock worth $4,860,000 after buying an additional 133,715 shares during the period. Finally, Dimensional Fund Advisors LP raised 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 worth $21,260,000 after buying an additional 112,269 shares during the period. 68.53% of the stock is currently 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.