Bandwidth Inc. (NASDAQ:BAND) Insider Devin M. Krupka Sells 3,658 Shares

Bandwidth Inc. (NASDAQ:BAND) insider Devin M. Krupka sold 3,658 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.26, for a total value of $77,769.08. Following the sale, the insider now owns 11,097 shares in the company, valued at approximately $235,922.22. This trade represents a 24.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Bandwidth Stock Performance

Shares of NASDAQ:BAND traded up $0.08 during trading on Monday, hitting $21.11. The stock had a trading volume of 399,651 shares, compared to its average volume of 309,419. The stock has a 50-day simple moving average of $18.66 and a two-hundred day simple moving average of $18.30. The stock has a market capitalization of $580.74 million, a price-to-earnings ratio of -22.70 and a beta of 1.50. Bandwidth Inc. has a 12-month low of $11.01 and a 12-month high of $25.02. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.83.

Bandwidth (NASDAQ:BAND) last issued its earnings results on Thursday, October 31st. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. The firm had revenue of $193.90 million for the quarter, compared to the consensus estimate of $182.05 million. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The company’s revenue was up 27.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 earnings per share. On average, equities research analysts expect that Bandwidth Inc. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Robert W. Baird increased their price target on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research report on Friday, November 1st. Finally, JMP Securities reiterated a “market outperform” rating and set a $36.00 target price on shares of Bandwidth in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.33.

Hedge Funds Weigh In On Bandwidth

Institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC boosted its holdings in Bandwidth by 143.9% during the second quarter. Hsbc Holdings PLC now owns 55,259 shares of the company’s stock worth $929,000 after buying an additional 32,598 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Bandwidth in the third quarter worth about $747,000. Squarepoint Ops LLC purchased a new stake in shares of Bandwidth during the 2nd quarter worth about $1,113,000. Panagora Asset Management Inc. grew its position in shares of Bandwidth by 50.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 139,592 shares of the company’s stock valued at $2,356,000 after acquiring an additional 46,547 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of Bandwidth by 185.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 341,921 shares of the company’s stock valued at $5,987,000 after purchasing an additional 222,142 shares in the last quarter. 68.53% of the stock is owned by hedge funds and other institutional investors.

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.