Bandwidth Inc. (NASDAQ:BAND) General Counsel Richard Brandon Asbill Sells 5,561 Shares

Bandwidth Inc. (NASDAQ:BAND) General Counsel Richard Brandon Asbill sold 5,561 shares of Bandwidth stock in a transaction on Friday, November 29th. The stock was sold at an average price of $21.26, for a total transaction of $118,226.86. Following the completion of the transaction, the general counsel now directly owns 41,825 shares in the company, valued at approximately $889,199.50. The trade was a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Bandwidth Stock Up 0.4 %

NASDAQ BAND traded up $0.08 during mid-day trading on Monday, reaching $21.11. The stock had a trading volume of 399,651 shares, compared to its average volume of 309,419. The stock has a market cap of $580.74 million, a PE ratio of -22.70 and a beta of 1.50. Bandwidth Inc. has a 1 year low of $11.01 and a 1 year high of $25.02. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.29 and a quick ratio of 1.29. The company has a fifty day moving average price of $18.66 and a 200 day moving average price of $18.30.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.11. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The firm had revenue of $193.90 million for the quarter, compared to the consensus estimate of $182.05 million. During the same period in the prior year, the company posted $0.03 earnings per share. The company’s quarterly revenue was up 27.6% on a year-over-year basis. On average, research analysts expect that Bandwidth Inc. will post 0.08 earnings per share for the current year.

Analysts Set New Price Targets

BAND has been the subject of several research analyst reports. Robert W. Baird raised their target price on shares of Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a report on Friday, November 1st. Finally, JMP Securities restated a “market outperform” rating and set a $36.00 target price on shares of Bandwidth in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Bandwidth currently has a consensus rating of “Hold” and an average price target of $28.33.

Institutional Trading of Bandwidth

Institutional investors have recently made changes to their positions in the stock. Innealta Capital LLC bought a new position in Bandwidth during the second quarter valued at approximately $30,000. nVerses Capital LLC raised its stake in Bandwidth by 80.0% during the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $32,000 after buying an additional 800 shares during the last quarter. Redwood Wealth Management Group LLC bought a new position in shares of Bandwidth during the 2nd quarter valued at $35,000. Quarry LP boosted its stake in shares of Bandwidth by 157.6% in the 3rd quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after buying an additional 1,245 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Bandwidth in the second quarter worth $57,000. Hedge funds and other institutional investors own 68.53% of the company’s stock.

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.