Bandwidth Inc. (NASDAQ:BAND) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its position in Bandwidth Inc. (NASDAQ:BAND) by 61.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 524,586 shares of the company’s stock after purchasing an additional 200,387 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 1.91% of Bandwidth worth $8,928,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp grew its holdings in Bandwidth by 3.7% in the 3rd quarter. State Street Corp now owns 655,768 shares of the company’s stock valued at $11,482,000 after buying an additional 23,352 shares during the period. Geode Capital Management LLC grew its holdings in Bandwidth by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 568,667 shares of the company’s stock valued at $9,960,000 after buying an additional 19,832 shares during the period. FMR LLC grew its holdings 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 buying an additional 153,223 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Bandwidth by 12.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 300,076 shares of the company’s stock valued at $5,107,000 after buying an additional 32,709 shares during the period. Finally, Parcion Private Wealth LLC grew its holdings in Bandwidth by 1.7% in the 4th quarter. Parcion Private Wealth LLC now owns 232,137 shares of the company’s stock valued at $3,951,000 after buying an additional 3,927 shares during the period. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Insiders Place Their Bets

In other Bandwidth news, General Counsel Richard Brandon Asbill sold 9,878 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $15.24, for a total value of $150,540.72. Following the completion of the transaction, the general counsel now owns 42,475 shares in the company, valued at $647,319. This represents a 18.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Devin M. Krupka sold 3,770 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $15.70, for a total value of $59,189.00. Following the completion of the transaction, the insider now owns 19,188 shares of the company’s stock, valued at approximately $301,251.60. This represents a 16.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,510 shares of company stock worth $1,109,806 in the last 90 days. 6.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

BAND has been the subject of several recent analyst reports. William Blair restated an “outperform” rating on shares of Bandwidth in a report on Friday, February 21st. Barclays lowered their price target on Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Morgan Stanley boosted their target price on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a report on Wednesday, December 18th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.33.

Bandwidth Stock Up 2.8 %

Shares of NASDAQ:BAND opened at $14.85 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.34 and a current ratio of 1.34. Bandwidth Inc. has a 1 year low of $13.51 and a 1 year high of $25.02. The stock has a market capitalization of $425.07 million, a P/E ratio of -26.05 and a beta of 1.57. The stock has a 50-day simple moving average of $16.80 and a 200-day simple moving average of $17.77.

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 analysts’ consensus estimates of $0.38 by ($0.36). The company had revenue of $209.97 million during the quarter, compared to analysts’ expectations of $203.68 million. Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. During the same quarter in the prior year, the company earned $0.38 EPS. Equities analysts forecast that Bandwidth Inc. will post 0.22 earnings per share for the current year.

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.