Insider Selling: Bandwidth Inc. (NASDAQ:BAND) Insider Sells $59,220.00 in Stock

Bandwidth Inc. (NASDAQ:BAND) insider Kade Ross sold 3,500 shares of Bandwidth stock in a transaction on Friday, June 28th. The stock was sold at an average price of $16.92, for a total value of $59,220.00. Following the sale, the insider now owns 23,322 shares in the company, valued at $394,608.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Kade Ross also recently made the following trade(s):

• On Tuesday, May 14th, Kade Ross sold 68 shares of Bandwidth stock. The stock was sold at an average price of $22.15, for a total transaction of $1,506.20.

Bandwidth Price Performance

Shares of NASDAQ BAND opened at $16.88 on Thursday. The stock has a fifty day moving average of $19.21 and a 200-day moving average of $17.03. The stock has a market cap of $455.93 million, a PE ratio of -15.07 and a beta of 1.48. The company has a debt-to-equity ratio of 1.41, a quick ratio of 2.36 and a current ratio of 2.36. Bandwidth Inc. has a fifty-two week low of $9.34 and a fifty-two week high of $25.02.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.08). Bandwidth had a negative net margin of 4.60% and a negative return on equity of 2.49%. The company had revenue of $171.03 million for the quarter, compared to the consensus estimate of $165.10 million. Equities research analysts anticipate that Bandwidth Inc. will post 0.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. G2 Investment Partners Management LLC bought a new position in shares of Bandwidth in the fourth quarter worth $4,079,000. Hussman Strategic Advisors Inc. grew its position in Bandwidth by 366.7% during the fourth quarter. Hussman Strategic Advisors Inc. now owns 147,000 shares of the company’s stock worth $2,127,000 after buying an additional 115,500 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Bandwidth in the 1st quarter worth about $1,143,000. Acadian Asset Management LLC raised its holdings in shares of Bandwidth by 15.7% in the 1st quarter. Acadian Asset Management LLC now owns 341,303 shares of the company’s stock valued at $6,231,000 after acquiring an additional 46,342 shares in the last quarter. Finally, Palogic Value Management L.P. boosted its position in shares of Bandwidth by 17.0% during the 4th quarter. Palogic Value Management L.P. now owns 300,000 shares of the company’s stock valued at $4,341,000 after acquiring an additional 43,675 shares during the last quarter. 68.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. JMP Securities boosted their target price on shares of Bandwidth from $32.00 to $36.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 8th. Barclays increased their price objective on Bandwidth from $22.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Canaccord Genuity Group boosted their target price on Bandwidth from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Robert W. Baird lifted their price objective on Bandwidth from $21.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bandwidth currently has a consensus rating of “Hold” and an average target price of $25.63.

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.