Bandwidth (NASDAQ:BAND) Stock Price Up 1.3% – Should You Buy?

Bandwidth Inc. (NASDAQ:BAND)’s stock price was up 1.3% during trading on Monday . The company traded as high as $14.32 and last traded at $14.27. Approximately 133,762 shares were traded during mid-day trading, a decline of 15% from the average daily volume of 157,167 shares. The stock had previously closed at $14.08.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wall Street Zen downgraded Bandwidth from a “buy” rating to a “hold” rating in a research note on Sunday, December 14th. Robert W. Baird set a $16.00 target price on shares of Bandwidth in a report on Friday, October 31st. Wedbush restated an “outperform” rating on shares of Bandwidth in a research report on Wednesday, September 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Bandwidth in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Bandwidth presently has a consensus rating of “Hold” and an average target price of $21.00.

Bandwidth Trading Up 1.3%

The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.39 and a current ratio of 1.39. The company has a market capitalization of $435.52 million, a P/E ratio of -36.59 and a beta of 2.10. The company’s fifty day simple moving average is $14.63 and its 200-day simple moving average is $15.25.

Insider Transactions at Bandwidth

In related news, insider Rebecca Bottorff sold 5,973 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $14.06, for a total value of $83,980.38. Following the transaction, the insider owned 53,352 shares in the company, valued at approximately $750,129.12. This represents a 10.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Devesh Agarwal sold 4,202 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $14.06, for a total transaction of $59,080.12. Following the transaction, the chief operating officer directly owned 77,482 shares of the company’s stock, valued at $1,089,396.92. This represents a 5.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 63,463 shares of company stock valued at $895,210 over the last quarter. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Bandwidth

Large investors have recently made changes to their positions in the company. Portolan Capital Management LLC raised its position in shares of Bandwidth by 115.8% in the third quarter. Portolan Capital Management LLC now owns 745,802 shares of the company’s stock worth $12,433,000 after acquiring an additional 400,231 shares during the period. AQR Capital Management LLC grew its position in shares of Bandwidth by 49.1% during the 2nd quarter. AQR Capital Management LLC now owns 587,305 shares of the company’s stock valued at $9,338,000 after acquiring an additional 193,398 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Bandwidth by 71.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 327,942 shares of the company’s stock valued at $5,467,000 after purchasing an additional 136,624 shares in the last quarter. Bridgeway Capital Management LLC acquired a new position in Bandwidth in the 2nd quarter worth about $2,166,000. Finally, Algert Global LLC raised its holdings in Bandwidth by 178.7% in the 3rd quarter. Algert Global LLC now owns 160,977 shares of the company’s stock worth $2,683,000 after purchasing an additional 103,207 shares during the period. 68.53% of the stock is currently owned by institutional investors and hedge funds.

About Bandwidth

Bandwidth Inc operates a cloud-based communications platform that provides voice, messaging and emergency services APIs for enterprises and developers. Through its proprietary network and software-as-a-service model, the company enables customers to integrate programmable voice calls, text messaging and 9-1-1 routing into their applications. Bandwidth’s solutions aim to reduce complexity and improve reliability in mission-critical communications, serving industries such as healthcare, financial services, on-demand mobility and customer engagement.

Founded in 1999 in Raleigh, North Carolina by co-founders David Morken and Henry Kaestner, Bandwidth initially focused on voice-over-IP infrastructure before evolving into a full communications API provider.