Daryl Raiford Sells 10,389 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 10,389 shares of Bandwidth stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $220,870.14. Following the completion of the sale, the chief financial officer now owns 87,220 shares of the company’s stock, valued at approximately $1,854,297.20. The trade was a 10.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Monday, December 2nd, Daryl Raiford sold 4,371 shares of Bandwidth stock. The shares were sold at an average price of $20.70, for a total transaction of $90,479.70.
• 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 value of $73,819.50.

Bandwidth Stock Performance

Shares of NASDAQ BAND traded up $0.08 during midday trading on Monday, hitting $21.11. The company’s stock had a trading volume of 399,651 shares, compared to its average volume of 309,419. The firm has a market capitalization of $580.74 million, a price-to-earnings ratio of -22.70 and a beta of 1.50. The stock has a fifty day moving average price of $18.66 and a 200 day moving average price of $18.30. Bandwidth Inc. has a one year low of $11.01 and a one year high of $25.02. 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 posted its quarterly earnings data on Thursday, October 31st. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.11. The company had revenue of $193.90 million during the quarter, compared to analyst estimates of $182.05 million. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The firm’s quarterly revenue was up 27.6% on a year-over-year basis. During the same quarter last year, the company earned $0.03 earnings per share. On average, research analysts forecast that Bandwidth Inc. will post 0.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BAND shares. Robert W. Baird lifted their target price on shares of Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. JMP Securities restated a “market outperform” rating and set a $36.00 price target on shares of Bandwidth in a report on Tuesday, August 27th. Finally, Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research note 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 issued a buy rating to the stock. Based on data from MarketBeat, Bandwidth has an average rating of “Hold” and an average price target of $28.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BAND. Innealta Capital LLC bought a new stake in Bandwidth in the second quarter valued at approximately $30,000. nVerses Capital LLC raised its holdings in 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 in the last quarter. Redwood Wealth Management Group LLC purchased a new position in shares of Bandwidth during the second quarter valued at about $35,000. Quarry LP grew its holdings in shares of Bandwidth by 157.6% during the 3rd quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after acquiring an additional 1,245 shares during the period. Finally, Daiwa Securities Group Inc. bought a new position in shares of Bandwidth in the 2nd quarter worth approximately $57,000. 68.53% of the stock is currently owned by institutional investors.

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.