Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford Sells 24,253 Shares of Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 24,253 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $15.58, for a total value of $377,861.74. Following the completion of the sale, the chief financial officer now directly owns 113,795 shares of the company’s stock, valued at approximately $1,772,926.10. This represents a 17.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, January 6th, Daryl Raiford sold 1,305 shares of Bandwidth stock. The shares were sold at an average price of $17.39, for a total value of $22,693.95.

Bandwidth Trading Up 0.5 %

NASDAQ BAND opened at $15.17 on Wednesday. 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 stock has a market capitalization of $434.23 million, a P/E ratio of -26.61 and a beta of 1.57. The firm’s 50-day moving average is $17.17 and its two-hundred day moving average is $17.90. Bandwidth Inc. has a 12 month low of $13.51 and a 12 month high of $25.02.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.36). The company had revenue of $209.97 million during the quarter, compared to analyst estimates 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 posted $0.38 earnings per share. On average, sell-side analysts anticipate that Bandwidth Inc. will post 0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. FMR LLC lifted its stake in Bandwidth by 70.3% during the 3rd quarter. FMR LLC now owns 371,215 shares of the company’s stock worth $6,500,000 after acquiring an additional 153,223 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Bandwidth during the third quarter worth about $747,000. Charles Schwab Investment Management Inc. lifted its position in shares of Bandwidth by 38.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 267,367 shares of the company’s stock worth $4,682,000 after purchasing an additional 73,795 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Bandwidth by 3.6% in the third quarter. Geode Capital Management LLC now owns 568,667 shares of the company’s stock valued at $9,960,000 after purchasing an additional 19,832 shares during the period. Finally, State Street Corp boosted its stake in shares of Bandwidth by 3.7% in the third quarter. State Street Corp now owns 655,768 shares of the company’s stock valued at $11,482,000 after purchasing an additional 23,352 shares during the period. 68.53% of the stock is currently owned by institutional investors and hedge funds.

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.