Devesh Agarwal Sells 4,202 Shares of Bandwidth (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) COO Devesh Agarwal sold 4,202 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $14.06, for a total value of $59,080.12. Following the sale, the chief operating officer owned 77,482 shares of the company’s stock, valued at $1,089,396.92. The trade was a 5.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Bandwidth Stock Up 3.7%

BAND opened at $14.73 on Thursday. Bandwidth Inc. has a 1 year low of $11.33 and a 1 year high of $21.08. The firm has a 50 day moving average price of $15.34 and a 200 day moving average price of $15.13. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.39 and a current ratio of 1.39. The company has a market cap of $449.56 million, a PE ratio of -37.77 and a beta of 2.11.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Bandwidth

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

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.