Bandwidth (NASDAQ:BAND) Director Douglas Suriano Sells 4,000 Shares of Company Stock

Bandwidth Inc. (NASDAQ:BAND) Director Douglas Suriano sold 4,000 shares of Bandwidth stock in a transaction on Thursday, November 12th. The shares were sold at an average price of $46.59, for a total value of $186,360.00. Following the transaction, the director owned 41,410 shares in the company, valued at approximately $1,929,291.90. This trade represents a 8.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Bandwidth Price Performance

Shares of Bandwidth stock traded down $2.53 during trading on Friday, hitting $43.76. The stock had a trading volume of 324,746 shares, compared to its average volume of 959,534. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.92 and a quick ratio of 1.92. The firm has a market cap of $1.42 billion, a P/E ratio of -364.64, a PEG ratio of 3.81 and a beta of 3.17. The business has a fifty day moving average of $50.53 and a two-hundred day moving average of $42.21. Bandwidth Inc. has a fifty-two week low of $12.50 and a fifty-two week high of $79.08.

Bandwidth (NASDAQ:BAND) last announced its earnings results on Thursday, October 29th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. The business had revenue of $234.02 million during the quarter, compared to analysts’ expectations of $233.15 million. Bandwidth had a return on equity of 3.70% and a net margin of 1.01%. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. On average, sell-side analysts expect that Bandwidth Inc. will post 0.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bandwidth

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in Bandwidth by 138.9% in the 2nd quarter. Wellington Management Group LLP now owns 911,893 shares of the company’s stock worth $57,723,000 after purchasing an additional 530,182 shares in the last quarter. Marshall Wace LLP raised its holdings in Bandwidth by 201.5% during the 3rd quarter. Marshall Wace LLP now owns 579,199 shares of the company’s stock worth $35,163,000 after buying an additional 387,117 shares during the period. Dimensional Fund Advisors LP raised its holdings in Bandwidth by 6.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,551,508 shares of the company’s stock worth $27,647,000 after buying an additional 91,812 shares during the period. Voya Investment Management LLC raised its holdings in Bandwidth by 1,851.5% during the 3rd quarter. Voya Investment Management LLC now owns 362,133 shares of the company’s stock worth $21,985,000 after buying an additional 343,576 shares during the period. Finally, Jump Financial LLC raised its holdings in Bandwidth by 33.3% during the 3rd quarter. Jump Financial LLC now owns 236,000 shares of the company’s stock worth $14,328,000 after buying an additional 58,989 shares during the period. 68.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BAND has been the topic of a number of research reports. Citigroup reiterated a “market outperform” rating on shares of Bandwidth in a report on Friday, October 30th. Piper Sandler increased their target price on shares of Bandwidth from $38.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, August 19th. Weiss Ratings upgraded shares of Bandwidth from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, November 4th. Citizens Jmp lifted their price target on shares of Bandwidth from $70.00 to $86.00 and gave the stock a “market outperform” rating in a research report on Monday, July 20th. Finally, Needham & Company LLC restated a “buy” rating on shares of Bandwidth in a research report on Wednesday. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $66.67.

Bandwidth Company Profile

Bandwidth is a cloud communications company that provides software and network services for businesses, communications providers and software developers. Its platform enables organizations to add voice calling, messaging and emergency calling capabilities to their applications and services. The company offers communications APIs, business voice and messaging solutions, and services for managing phone numbers and emergency communications. Bandwidth’s network infrastructure supports these offerings and helps customers connect communications features with their existing systems.