Los Angeles Capital Management LLC Has $652,000 Stake in Bandwidth Inc. $BAND

Los Angeles Capital Management LLC raised its holdings in Bandwidth Inc. (NASDAQ:BAND) by 97.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,982 shares of the company’s stock after buying an additional 20,235 shares during the period. Los Angeles Capital Management LLC owned 0.14% of Bandwidth worth $652,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BAND. Savant Capital LLC bought a new position in shares of Bandwidth in the 2nd quarter valued at about $201,000. Bank of Montreal Can raised its holdings in Bandwidth by 1.7% during the second quarter. Bank of Montreal Can now owns 156,087 shares of the company’s stock worth $2,482,000 after acquiring an additional 2,554 shares in the last quarter. Parcion Private Wealth LLC boosted its position in Bandwidth by 1.1% during the second quarter. Parcion Private Wealth LLC now owns 236,956 shares of the company’s stock valued at $3,768,000 after purchasing an additional 2,566 shares during the last quarter. CWM LLC boosted its position in Bandwidth by 176.2% during the second quarter. CWM LLC now owns 20,608 shares of the company’s stock valued at $328,000 after purchasing an additional 13,148 shares during the last quarter. Finally, CX Institutional bought a new position in Bandwidth in the second quarter valued at approximately $241,000. 68.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BAND. Robert W. Baird set a $16.00 price objective on Bandwidth in a research note on Friday, October 31st. Wall Street Zen downgraded shares of Bandwidth from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Wedbush reiterated an “outperform” rating on shares of Bandwidth in a research note on Wednesday, September 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Bandwidth in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $21.00.

Bandwidth Trading Up 0.2%

Shares of Bandwidth stock opened at $14.37 on Friday. Bandwidth Inc. has a 1 year low of $11.33 and a 1 year high of $22.22. The company has a market capitalization of $438.57 million, a price-to-earnings ratio of -36.85 and a beta of 1.92. The business has a fifty day simple moving average of $16.07 and a two-hundred day simple moving average of $15.06. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.39 and a quick ratio of 1.39.

Insider Transactions at Bandwidth

In related news, COO Devesh Agarwal sold 1,745 shares of Bandwidth stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $15.09, for a total transaction of $26,332.05. Following the completion of the sale, the chief operating officer owned 67,263 shares of the company’s stock, valued at approximately $1,014,998.67. The trade was a 2.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Daryl Raiford sold 14,143 shares of the company’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $15.47, for a total transaction of $218,792.21. Following the completion of the transaction, the chief financial officer owned 90,395 shares in the company, valued at approximately $1,398,410.65. This trade represents a 13.53% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 67,960 shares of company stock worth $1,064,882. 6.50% of the stock is owned by insiders.

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.