Insider Selling: Bandwidth Inc. (NASDAQ:BAND) CFO Sells 1,769 Shares of Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 1,769 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $22.22, for a total transaction of $39,307.18. Following the sale, the chief financial officer now directly owns 63,397 shares of the company’s stock, valued at approximately $1,408,681.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, June 5th, Daryl Raiford sold 7,600 shares of Bandwidth stock. The shares were sold at an average price of $20.80, for a total transaction of $158,080.00.
• On Friday, May 31st, Daryl Raiford sold 13,410 shares of Bandwidth stock. The shares were sold at an average price of $20.01, for a total transaction of $268,334.10.
• On Wednesday, May 29th, Daryl Raiford sold 805 shares of Bandwidth stock. The stock was sold at an average price of $20.40, for a total transaction of $16,422.00.

Bandwidth Trading Up 3.6 %

Shares of Bandwidth stock opened at $21.77 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.36 and a quick ratio of 2.36. The firm has a fifty day moving average price of $18.90 and a 200 day moving average price of $17.58. Bandwidth Inc. has a 1 year low of $9.34 and a 1 year high of $25.02. The stock has a market cap of $588.01 million, a PE ratio of -19.44 and a beta of 1.48.

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

Institutional Trading of Bandwidth

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BAND. G2 Investment Partners Management LLC acquired a new stake in Bandwidth during the fourth quarter valued at $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 valued at $2,127,000 after buying an additional 115,500 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Bandwidth during the first quarter valued at $1,143,000. Acadian Asset Management LLC grew its position in Bandwidth by 15.7% during the first quarter. Acadian Asset Management LLC now owns 341,303 shares of the company’s stock valued at $6,231,000 after buying an additional 46,342 shares during the period. Finally, Palogic Value Management L.P. grew its position in shares of Bandwidth by 17.0% in the fourth quarter. Palogic Value Management L.P. now owns 300,000 shares of the company’s stock valued at $4,341,000 after purchasing an additional 43,675 shares during the period. Institutional investors and hedge funds own 68.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BAND. JMP Securities raised their price target on shares of Bandwidth from $32.00 to $36.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 8th. Barclays raised their price target on shares of Bandwidth from $22.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a report on Friday, May 10th. Canaccord Genuity Group raised their price target on shares of Bandwidth from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Finally, Robert W. Baird raised their price target on shares of Bandwidth from $21.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average 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.