Bandwidth (NASDAQ:BAND) Rating Lowered to Hold at Wall Street Zen

Bandwidth (NASDAQ:BAND) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.

BAND has been the topic of a number of other reports. Wedbush reissued an “outperform” rating on shares of Bandwidth in a research note on Wednesday, September 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bandwidth in a report on Wednesday, October 8th. Finally, Robert W. Baird set a $16.00 target price on shares of Bandwidth in a research report on Friday, October 31st. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $21.00.

Bandwidth Stock Down 2.7%

Shares of NASDAQ:BAND opened at $14.86 on Friday. Bandwidth has a 52-week low of $11.33 and a 52-week high of $20.13. The company has a market capitalization of $453.53 million, a PE ratio of -38.10 and a beta of 2.11. 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 fifty day moving average of $15.09 and a 200-day moving average of $15.19.

Insider Transactions at Bandwidth

In other news, insider Devin M. Krupka sold 7,166 shares of Bandwidth stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $18.00, for a total value of $128,988.00. Following the completion of the sale, the insider owned 19,192 shares in the company, valued at $345,456. The trade was a 27.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Rebecca Bottorff sold 5,973 shares of the business’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 $83,980.38. Following the transaction, the insider owned 53,352 shares in the company, valued at $750,129.12. The trade was a 10.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 70,629 shares of company stock worth $1,024,198. Corporate insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Bandwidth

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its position in Bandwidth by 183.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,776 shares of the company’s stock valued at $60,000 after buying an additional 2,445 shares in the last quarter. State of Wyoming acquired a new stake in Bandwidth in the third quarter valued at approximately $71,000. US Bancorp DE increased its holdings in shares of Bandwidth by 11,281.3% during the first quarter. US Bancorp DE now owns 5,463 shares of the company’s stock valued at $72,000 after acquiring an additional 5,415 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Bandwidth during the second quarter worth approximately $85,000. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Bandwidth by 30.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,509 shares of the company’s stock worth $125,000 after purchasing an additional 1,748 shares in the last quarter. Institutional investors own 68.53% of the company’s stock.

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.