Acadian Asset Management LLC Purchases 46,342 Shares of Bandwidth Inc. (NASDAQ:BAND)

Acadian Asset Management LLC boosted its position in Bandwidth Inc. (NASDAQ:BAND) by 15.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 341,303 shares of the company’s stock after purchasing an additional 46,342 shares during the quarter. Acadian Asset Management LLC owned about 1.30% of Bandwidth worth $6,231,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BAND. Vanguard Group Inc. raised its holdings in Bandwidth by 3.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,480,343 shares of the company’s stock valued at $16,683,000 after acquiring an additional 43,411 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Bandwidth during the 4th quarter worth $238,000. Parcion Private Wealth LLC raised its holdings in shares of Bandwidth by 1.0% during the 4th quarter. Parcion Private Wealth LLC now owns 216,428 shares of the company’s stock worth $3,132,000 after buying an additional 2,153 shares in the last quarter. Hussman Strategic Advisors Inc. raised its holdings in shares of Bandwidth by 366.7% during the 4th quarter. Hussman Strategic Advisors Inc. now owns 147,000 shares of the company’s stock worth $2,127,000 after buying an additional 115,500 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Bandwidth by 25.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 73,235 shares of the company’s stock worth $1,060,000 after buying an additional 14,752 shares in the last quarter. 68.53% of the stock is currently owned by institutional investors.

Insider Transactions at Bandwidth

In related news, CEO David A. Morken sold 1,290 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $20.40, for a total transaction of $26,316.00. Following the completion of the sale, the chief executive officer now directly owns 78,864 shares of the company’s stock, valued at $1,608,825.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO David A. Morken sold 1,290 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $20.40, for a total transaction of $26,316.00. Following the completion of the sale, the chief executive officer now directly owns 78,864 shares of the company’s stock, valued at $1,608,825.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Devin M. Krupka sold 2,500 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $21.61, for a total value of $54,025.00. Following the transaction, the insider now directly owns 7,262 shares of the company’s stock, valued at $156,931.82. The disclosure for this sale can be found here. Insiders sold a total of 31,204 shares of company stock valued at $625,336 over the last ninety days. 6.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BAND. JMP Securities boosted their price target on Bandwidth from $32.00 to $36.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 8th. Canaccord Genuity Group upped their price target on Bandwidth from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Robert W. Baird upped their price target on Bandwidth from $21.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Morgan Stanley lowered Bandwidth from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $18.00 to $15.00 in a research report on Friday, June 14th. Finally, KeyCorp upped their target price on Bandwidth from $21.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Bandwidth has a consensus rating of “Hold” and an average price target of $25.63.

Bandwidth Trading Up 4.2 %

Shares of Bandwidth stock traded up $0.87 on Monday, hitting $21.63. The company had a trading volume of 138,825 shares, compared to its average volume of 334,202. Bandwidth Inc. has a 1 year low of $9.34 and a 1 year high of $25.02. The stock has a 50 day moving average of $18.93 and a 200-day moving average of $17.45. The company has a debt-to-equity ratio of 1.41, a quick ratio of 2.36 and a current ratio of 2.36.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.08). The company had revenue of $171.03 million during the quarter, compared to analysts’ expectations of $165.10 million. Bandwidth had a negative return on equity of 2.49% and a negative net margin of 4.60%. On average, equities analysts forecast that Bandwidth Inc. will post 0.16 EPS for the current fiscal year.

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.