42,667 Shares in Bandwidth Inc. (NASDAQ:BAND) Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd acquired a new position in shares of Bandwidth Inc. (NASDAQ:BAND) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 42,667 shares of the company’s stock, valued at approximately $747,000.

Other institutional investors have also made changes to their positions in the company. Hsbc Holdings PLC grew its stake in shares of Bandwidth by 143.9% during the second quarter. Hsbc Holdings PLC now owns 55,259 shares of the company’s stock worth $929,000 after purchasing an additional 32,598 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Bandwidth during the second quarter worth $1,113,000. Panagora Asset Management Inc. grew its stake in shares of Bandwidth by 50.0% during the second quarter. Panagora Asset Management Inc. now owns 139,592 shares of the company’s stock worth $2,356,000 after purchasing an additional 46,547 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Bandwidth by 185.5% during the third quarter. Assenagon Asset Management S.A. now owns 341,921 shares of the company’s stock worth $5,987,000 after purchasing an additional 222,142 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Bandwidth by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,713 shares of the company’s stock worth $269,000 after purchasing an additional 1,334 shares during the period. 68.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Bandwidth

In related news, CFO Daryl Raiford sold 4,350 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $16.97, for a total transaction of $73,819.50. Following the sale, the chief financial officer now owns 71,546 shares in the company, valued at approximately $1,214,135.62. This represents a 5.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 4,455 shares of company stock valued at $75,786 over the last three months. Company insiders own 6.20% of the company’s stock.

Wall Street Analysts Forecast Growth

BAND has been the subject of a number of analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $36.00 price objective on shares of Bandwidth in a research note on Tuesday, August 27th. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. Barclays decreased their target price on Bandwidth from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Robert W. Baird boosted their target price on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $28.33.

Bandwidth Stock Up 1.6 %

BAND stock opened at $21.61 on Friday. 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 stock has a market capitalization of $594.49 million, a P/E ratio of -23.24 and a beta of 1.50. The business has a 50-day moving average of $18.42 and a 200-day moving average of $18.34. Bandwidth Inc. has a fifty-two week low of $10.60 and a fifty-two week high of $25.02.

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

Bandwidth 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.