GSA Capital Partners LLP Purchases 16,968 Shares of Bandwidth Inc. (NASDAQ:BAND)

GSA Capital Partners LLP lifted its stake in Bandwidth Inc. (NASDAQ:BAND) by 32.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 69,986 shares of the company’s stock after purchasing an additional 16,968 shares during the quarter. GSA Capital Partners LLP owned about 0.26% of Bandwidth worth $1,225,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BAND. Innealta Capital LLC purchased a new position in shares of Bandwidth in the 2nd quarter worth approximately $30,000. nVerses Capital LLC boosted its holdings in shares of Bandwidth by 80.0% in the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $32,000 after purchasing an additional 800 shares during the period. Redwood Wealth Management Group LLC purchased a new position in shares of Bandwidth in the 2nd quarter worth approximately $35,000. Ameritas Investment Partners Inc. boosted its holdings in shares of Bandwidth by 31.6% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,355 shares of the company’s stock worth $43,000 after purchasing an additional 565 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Bandwidth in the 2nd quarter worth approximately $57,000. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Wall Street Analysts Forecast Growth

BAND has been the subject of a number of recent analyst reports. JMP Securities restated a “market outperform” rating and set a $36.00 price objective on shares of Bandwidth in a report on Tuesday, August 27th. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a report on Friday, November 1st. Robert W. Baird boosted their price objective on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Barclays dropped their price objective on Bandwidth from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Bandwidth currently has a consensus rating of “Hold” and an average price target of $28.33.

Bandwidth Price Performance

Shares of BAND stock opened at $18.83 on Friday. Bandwidth Inc. has a twelve month low of $10.60 and a twelve month high of $25.02. The stock has a market capitalization of $518.01 million, a price-to-earnings ratio of -20.25 and a beta of 1.50. The stock has a fifty day simple moving average of $17.87 and a two-hundred day simple moving average of $18.38. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.83.

Bandwidth (NASDAQ:BAND) last issued its earnings results on Thursday, October 31st. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.11. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The business had revenue of $193.90 million during the quarter, compared to analysts’ expectations of $182.05 million. During the same period in the prior year, the business earned $0.03 EPS. The business’s revenue for the quarter was up 27.6% compared to the same quarter last year. On average, analysts predict that Bandwidth Inc. will post 0.08 EPS for the current fiscal year.

Insider Transactions at Bandwidth

In other news, CFO Daryl Raiford sold 4,350 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $16.97, for a total value of $73,819.50. Following the completion of the transaction, the chief financial officer now directly owns 71,546 shares of the company’s stock, valued at approximately $1,214,135.62. The trade was a 5.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 8,630 shares of company stock valued at $148,515. Corporate insiders own 6.20% 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.