Devin Krupka Sells 2,976 Shares of Bandwidth (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) insider Devin Krupka sold 2,976 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $14.06, for a total transaction of $41,842.56. Following the sale, the insider owned 26,428 shares of the company’s stock, valued at $371,577.68. The trade was a 10.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Bandwidth Stock Up 3.7%

Shares of Bandwidth stock opened at $14.73 on Thursday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.63. Bandwidth Inc. has a 12 month low of $11.33 and a 12 month high of $21.08. The business has a fifty day simple moving average of $15.34 and a 200 day simple moving average of $15.13. The stock has a market cap of $449.56 million, a PE ratio of -37.77 and a beta of 2.11.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. CX Institutional acquired a new position in shares of Bandwidth in the second quarter valued at approximately $241,000. Nuveen LLC bought a new stake in Bandwidth in the 1st quarter valued at $7,916,000. AQR Capital Management LLC boosted its stake in Bandwidth by 303.1% in the 1st quarter. AQR Capital Management LLC now owns 393,907 shares of the company’s stock worth $5,160,000 after purchasing an additional 296,199 shares during the period. Rhumbline Advisers increased its holdings in Bandwidth by 3.7% during the 1st quarter. Rhumbline Advisers now owns 35,603 shares of the company’s stock worth $466,000 after purchasing an additional 1,255 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Bandwidth during the 2nd quarter worth about $211,000. Institutional investors own 68.53% of the company’s stock.

Wall Street Analyst Weigh In

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

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.