Segall Bryant & Hamill LLC Buys 88,198 Shares of Bandwidth Inc. (NASDAQ:BAND)

Segall Bryant & Hamill LLC lifted its stake in Bandwidth Inc. (NASDAQ:BAND) by 260.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 122,087 shares of the company’s stock after acquiring an additional 88,198 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.44% of Bandwidth worth $2,078,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BAND. Quarry LP increased its position 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 purchasing an additional 1,245 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Bandwidth by 14.5% in the fourth quarter. SG Americas Securities LLC now owns 11,102 shares of the company’s stock valued at $189,000 after buying an additional 1,407 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Bandwidth by 2.2% during the fourth quarter. Bank of New York Mellon Corp now owns 83,175 shares of the company’s stock worth $1,416,000 after buying an additional 1,811 shares during the last quarter. Parcion Private Wealth LLC raised its position in Bandwidth by 1.7% during the fourth quarter. Parcion Private Wealth LLC now owns 232,137 shares of the company’s stock worth $3,951,000 after acquiring an additional 3,927 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Bandwidth in the fourth quarter valued at $69,000. Institutional investors own 68.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research note on Friday, February 21st. William Blair reissued an “outperform” rating on shares of Bandwidth in a research report on Friday, February 21st. Morgan Stanley raised their price objective on Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a research report on Wednesday, December 18th. Finally, Barclays decreased their target price on Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $28.33.

Bandwidth Stock Performance

Shares of NASDAQ BAND opened at $14.22 on Friday. Bandwidth Inc. has a one year low of $13.51 and a one year high of $25.02. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market cap of $407.03 million, a price-to-earnings ratio of -24.95 and a beta of 1.57. The stock’s fifty day moving average price is $16.53 and its two-hundred day moving average price is $17.62.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.36). The business had revenue of $209.97 million for the quarter, compared to the consensus estimate 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 period in the prior year, the business posted $0.38 earnings per share. On average, equities analysts forecast that Bandwidth Inc. will post 0.22 EPS for the current year.

Insiders Place Their Bets

In other Bandwidth news, insider Devin M. Krupka sold 3,770 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $15.70, for a total transaction of $59,189.00. Following the sale, the insider now directly owns 19,188 shares in the company, valued at $301,251.60. This represents a 16.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David A. Morken sold 2,777 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $17.39, for a total transaction of $48,292.03. Following the completion of the transaction, the chief executive officer now directly owns 109,783 shares in the company, valued at approximately $1,909,126.37. This represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,510 shares of company stock worth $1,109,806 in the last 90 days. Company 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.