Daryl Raiford Sells 24,253 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 24,253 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.58, for a total transaction of $377,861.74. Following the sale, the chief financial officer now directly owns 113,795 shares of the company’s stock, valued at approximately $1,772,926.10. This represents a 17.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Daryl Raiford also recently made the following trade(s):

• On Monday, January 6th, Daryl Raiford sold 1,305 shares of Bandwidth stock. The stock was sold at an average price of $17.39, for a total transaction of $22,693.95.

Bandwidth Stock Up 0.6 %

BAND opened at $15.26 on Thursday. The company has a market capitalization of $436.80 million, a P/E ratio of -26.77 and a beta of 1.57. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.34 and a quick ratio of 1.34. The firm’s fifty day moving average price is $17.12 and its two-hundred day moving average price is $17.89. Bandwidth Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $25.02.

Bandwidth (NASDAQ:BAND) last posted its earnings results on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.36). The business had revenue of $209.97 million during the quarter, compared to the consensus estimate of $203.68 million. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. During the same period in the previous year, the firm earned $0.38 EPS. On average, analysts anticipate that Bandwidth Inc. will post 0.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BAND shares. Morgan Stanley boosted their price objective on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th. William Blair reiterated an “outperform” rating on shares of Bandwidth in a report on Friday, February 21st. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research note on Friday, February 21st. Finally, Barclays cut their target price on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Bandwidth presently has a consensus rating of “Moderate Buy” and an average target price of $28.33.

Hedge Funds Weigh In On Bandwidth

Several hedge funds and other institutional investors have recently modified their holdings of BAND. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Bandwidth by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,185 shares of the company’s stock valued at $241,000 after acquiring an additional 608 shares during the period. Dynamic Technology Lab Private Ltd grew its holdings in shares of Bandwidth by 1.6% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 43,366 shares of the company’s stock worth $738,000 after purchasing an additional 699 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Bandwidth by 3.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 21,221 shares of the company’s stock worth $372,000 after purchasing an additional 740 shares during the last quarter. Quarry LP increased its position in shares of Bandwidth by 157.6% during the 3rd quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after purchasing an additional 1,245 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Bandwidth by 14.5% during the 4th quarter. SG Americas Securities LLC now owns 11,102 shares of the company’s stock valued at $189,000 after purchasing an additional 1,407 shares during 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.