Bandwidth Inc. (NASDAQ:BAND) COO Devesh Agarwal Sells 6,538 Shares

Bandwidth Inc. (NASDAQ:BAND) COO Devesh Agarwal sold 6,538 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $15.70, for a total transaction of $102,646.60. Following the completion of the transaction, the chief operating officer now owns 53,413 shares in the company, valued at approximately $838,584.10. The trade was a 10.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Bandwidth Stock Performance

Shares of BAND stock opened at $15.17 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90. The firm has a fifty day simple moving average of $17.17 and a two-hundred day simple moving average of $17.90. Bandwidth Inc. has a 12 month low of $13.51 and a 12 month high of $25.02. The firm has a market capitalization of $434.23 million, a PE ratio of -26.61 and a beta of 1.57.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Covestor Ltd purchased a new stake in Bandwidth in the 4th quarter valued at $25,000. Quarry LP lifted its position in shares of Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company’s stock valued at $36,000 after purchasing an additional 1,245 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Bandwidth during the fourth quarter valued at about $50,000. SBI Securities Co. Ltd. purchased a new stake in Bandwidth in the 4th quarter valued at about $69,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Bandwidth during the 3rd quarter worth approximately $74,000. Institutional investors own 68.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. William Blair reissued an “outperform” rating on shares of Bandwidth in a research note on Friday, February 21st. Morgan Stanley raised their price objective on shares of Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th. Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a research report on Friday, February 21st. Finally, Barclays reduced their price target on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $28.33.

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.