Bandwidth (NASDAQ:BAND) Director John Murdock Sells 1,215 Shares

Bandwidth Inc. (NASDAQ:BAND) Director John Murdock sold 1,215 shares of Bandwidth stock in a transaction on Monday, December 1st. The shares were sold at an average price of $14.03, for a total value of $17,046.45. Following the completion of the sale, the director directly owned 112,156 shares of the company’s stock, valued at $1,573,548.68. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Bandwidth Price Performance

BAND stock opened at $14.21 on Wednesday. The business’s fifty day moving average price is $15.40 and its 200 day moving average price is $15.13. Bandwidth Inc. has a 12-month low of $11.33 and a 12-month high of $21.08. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $433.69 million, a PE ratio of -36.44 and a beta of 2.11.

Hedge Funds Weigh In On Bandwidth

Several hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its holdings in Bandwidth by 183.7% during the second quarter. Tower Research Capital LLC TRC now owns 3,776 shares of the company’s stock worth $60,000 after purchasing an additional 2,445 shares in the last quarter. State of Wyoming purchased a new position in shares of Bandwidth in the 3rd quarter valued at $71,000. US Bancorp DE grew its position in shares of Bandwidth by 11,281.3% in the 1st quarter. US Bancorp DE now owns 5,463 shares of the company’s stock valued at $72,000 after buying an additional 5,415 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Bandwidth during the 2nd quarter worth $85,000. Finally, Harbor Capital Advisors Inc. lifted its position in Bandwidth by 30.3% in the third quarter. Harbor Capital Advisors Inc. now owns 7,509 shares of the company’s stock valued at $125,000 after acquiring an additional 1,748 shares during the last quarter. 68.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BAND. Weiss Ratings reissued a “sell (d-)” rating on shares of Bandwidth in a research report on Wednesday, October 8th. Robert W. Baird set a $16.00 price objective on Bandwidth in a research report on Friday, October 31st. Wedbush reiterated an “outperform” rating on shares of Bandwidth in a report on Wednesday, September 17th. Finally, Wall Street Zen downgraded Bandwidth from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Bandwidth presently has a consensus rating of “Hold” and an average target price of $21.00.

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.