Insider Selling: Bandwidth Inc. (NASDAQ:BAND) CFO Sells 4,371 Shares of Stock

by · The Cerbat Gem

Bandwidth Inc. (NASDAQ:BAND – Get Free Report) CFO Daryl Raiford sold 4,371 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.70, for a total value of $90,479.70. Following the completion of the transaction, the chief financial officer now owns 93,451 shares in the company, valued at approximately $1,934,435.70. The trade was a 4.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

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

  • On Friday, November 29th, Daryl Raiford sold 10,389 shares of Bandwidth stock. The shares were sold at an average price of $21.26, for a total transaction of $220,870.14.
  • On Tuesday, September 3rd, Daryl Raiford sold 4,350 shares of Bandwidth stock. The stock was sold at an average price of $16.97, for a total transaction of $73,819.50.

Bandwidth Trading Up 0.4 %

Shares of BAND traded up $0.08 during mid-day trading on Monday, reaching $21.11. The company’s stock had a trading volume of 399,651 shares, compared to its average volume of 309,419. 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 Inc. has a 52 week low of $11.01 and a 52 week high of $25.02. The company’s fifty day moving average price is $18.66 and its two-hundred day moving average price is $18.30. The stock has a market cap of $580.74 million, a PE ratio of -22.70 and a beta of 1.50.

Bandwidth (NASDAQ:BAND – Get Free Report) last posted its quarterly 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 net margin of 2.23% and a negative return on equity of 0.89%. The business had revenue of $193.90 million during the quarter, compared to the consensus estimate of $182.05 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The firm’s revenue for the quarter was up 27.6% on a year-over-year basis. On average, analysts predict that Bandwidth Inc. will post 0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BAND. JMP Securities reissued 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 reiterated a “hold” rating on shares of Bandwidth in a research report on Friday, November 1st. Finally, Robert W. Baird increased their price objective on Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $28.33.

View Our Latest Stock Analysis on BAND

Institutional Investors Weigh In On Bandwidth

Institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC increased its stake in Bandwidth by 143.9% in the 2nd quarter. Hsbc Holdings PLC now owns 55,259 shares of the company’s stock worth $929,000 after purchasing an additional 32,598 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Bandwidth in the third quarter worth approximately $747,000. Squarepoint Ops LLC purchased a new position in shares of Bandwidth in the second quarter worth $1,113,000. Panagora Asset Management Inc. raised its holdings in Bandwidth by 50.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 139,592 shares of the company’s stock valued at $2,356,000 after buying an additional 46,547 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Bandwidth by 185.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 341,921 shares of the company’s stock valued at $5,987,000 after buying an additional 222,142 shares during the period. 68.53% of the stock is currently owned by hedge funds and other institutional investors.

About Bandwidth

(Get Free Report)

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.

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