Counterpoint Mutual Funds LLC Acquires New Position in Bandwidth Inc. (NASDAQ:BAND)

Counterpoint Mutual Funds LLC acquired a new stake in shares of Bandwidth Inc. (NASDAQ:BAND) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 22,568 shares of the company’s stock, valued at approximately $384,000.

Other hedge funds also recently made changes to their positions in the company. one8zero8 LLC bought a new position in Bandwidth in the 4th quarter worth approximately $170,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Bandwidth by 61.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 524,586 shares of the company’s stock worth $8,928,000 after purchasing an additional 200,387 shares during the period. AlphaQuest LLC boosted its stake in Bandwidth by 162.1% in the 4th quarter. AlphaQuest LLC now owns 17,684 shares of the company’s stock worth $301,000 after purchasing an additional 10,936 shares during the period. Inceptionr LLC bought a new position in Bandwidth in the 4th quarter worth approximately $202,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Bandwidth by 12.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 300,076 shares of the company’s stock worth $5,107,000 after purchasing an additional 32,709 shares during the period. 68.53% of the stock is currently owned by institutional investors.

Bandwidth Stock Up 1.2 %

NASDAQ BAND opened at $15.03 on Tuesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $430.22 million, a P/E ratio of -26.37 and a beta of 1.57. Bandwidth Inc. has a one year low of $13.51 and a one year high of $25.02. The stock has a 50 day moving average price of $16.75 and a 200-day moving average price of $17.76.

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

Insider Activity at Bandwidth

In related news, General Counsel Richard Brandon Asbill sold 5,629 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.70, for a total transaction of $88,375.30. Following the sale, the general counsel now owns 57,475 shares in the company, valued at approximately $902,357.50. This represents a 8.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David A. Morken sold 2,777 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $17.39, for a total value of $48,292.03. Following the completion of the sale, the chief executive officer now owns 109,783 shares in the company, valued at approximately $1,909,126.37. The trade was a 2.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,510 shares of company stock worth $1,109,806. Company insiders own 6.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BAND shares. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research note on Friday, February 21st. Morgan Stanley upped their price target on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th. William Blair reiterated an “outperform” rating on shares of Bandwidth in a research report on Friday, February 21st. Finally, Barclays lowered their target price on Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. One 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.33.

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.