Bandwidth (NASDAQ:BAND) Given “Hold” Rating at Needham & Company LLC

Bandwidth (NASDAQ:BAND)‘s stock had its “hold” rating restated by equities researchers at Needham & Company LLC in a note issued to investors on Friday,Benzinga reports.

BAND has been the subject of several other reports. Morgan Stanley upped their target price on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th. Robert W. Baird upped their target price on Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, Barclays dropped their price target on Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Bandwidth presently has a consensus rating of “Hold” and an average target price of $28.33.

Bandwidth Trading Down 4.4 %

Shares of NASDAQ:BAND opened at $17.46 on Friday. The business’s 50 day simple moving average is $17.47 and its 200 day simple moving average is $17.83. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.29 and a quick ratio of 1.29. Bandwidth has a 1 year low of $11.90 and a 1 year high of $25.02. The company has a market capitalization of $480.32 million, a P/E ratio of -18.77 and a beta of 1.54.

Insider Activity at Bandwidth

In other Bandwidth news, insider Devin M. Krupka sold 3,658 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $21.26, for a total transaction of $77,769.08. Following the completion of the sale, the insider now directly owns 11,097 shares in the company, valued at approximately $235,922.22. This trade represents a 24.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David A. Morken sold 15,410 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $21.26, for a total value of $327,616.60. Following the sale, the chief executive officer now owns 101,821 shares of the company’s stock, valued at approximately $2,164,714.46. The trade was a 13.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,417 shares of company stock worth $1,063,184 over the last three months. Company insiders own 6.20% of the company’s stock.

Institutional Trading of Bandwidth

Several large investors have recently made changes to their positions in BAND. Assenagon Asset Management S.A. grew its stake in shares of Bandwidth by 185.5% in 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. Connor Clark & Lunn Investment Management Ltd. lifted its position 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 valued at $8,928,000 after acquiring an additional 200,387 shares in the last quarter. FMR LLC lifted its position in Bandwidth by 70.3% in the 3rd quarter. FMR LLC now owns 371,215 shares of the company’s stock valued at $6,500,000 after acquiring an additional 153,223 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Bandwidth by 88.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 285,559 shares of the company’s stock valued at $4,860,000 after acquiring an additional 133,715 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Bandwidth by 9.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company’s stock valued at $21,260,000 after acquiring an additional 112,269 shares in the last quarter. 68.53% of the stock is currently owned by institutional investors and hedge funds.

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.