Insider Selling: Bandwidth (NASDAQ:BAND) CFO Sells 6,719 Shares of Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 6,719 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $14.50, for a total value of $97,425.50. Following the transaction, the chief financial officer directly owned 91,816 shares of the company’s stock, valued at $1,331,332. The trade was a 6.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, September 9th, Daryl Raiford sold 14,143 shares of Bandwidth stock. The shares were sold at an average price of $15.47, for a total value of $218,792.21.
• On Monday, September 8th, Daryl Raiford sold 1,625 shares of Bandwidth stock. The shares were sold at an average price of $15.70, for a total value of $25,512.50.
• On Monday, September 8th, Daryl Raiford sold 5,000 shares of Bandwidth stock. The stock was sold at an average price of $15.71, for a total transaction of $78,550.00.
• On Friday, September 5th, Daryl Raiford sold 19,000 shares of Bandwidth stock. The shares were sold at an average price of $15.50, for a total transaction of $294,500.00.

Bandwidth Stock Down 0.1%

Bandwidth stock traded down $0.02 during trading on Thursday, reaching $14.71. The stock had a trading volume of 340,893 shares, compared to its average volume of 273,953. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.63. Bandwidth Inc. has a 52-week low of $11.33 and a 52-week high of $21.08. The stock has a market cap of $448.95 million, a PE ratio of -37.72 and a beta of 2.11. The business has a 50 day moving average price of $15.34 and a 200 day moving average price of $15.13.

Analyst Upgrades and Downgrades

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

Institutional Trading of Bandwidth

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Bandwidth by 3.5% during the third quarter. Vanguard Group Inc. now owns 1,988,533 shares of the company’s stock worth $33,149,000 after purchasing an additional 67,428 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Bandwidth by 2.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,464,976 shares of the company’s stock worth $24,423,000 after buying an additional 30,248 shares in the last quarter. Portolan Capital Management LLC lifted its holdings in shares of Bandwidth by 115.8% in the 3rd quarter. Portolan Capital Management LLC now owns 745,802 shares of the company’s stock valued at $12,433,000 after buying an additional 400,231 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Bandwidth by 11.3% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 680,945 shares of the company’s stock valued at $10,827,000 after buying an additional 69,065 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Bandwidth by 8.9% in the second quarter. Geode Capital Management LLC now owns 648,763 shares of the company’s stock valued at $10,318,000 after buying an additional 52,762 shares in the last quarter. 68.53% of the stock is owned by institutional investors and hedge funds.

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.