one8zero8 LLC Acquires New Shares in Bandwidth Inc. (NASDAQ:BAND)

one8zero8 LLC acquired a new stake in Bandwidth Inc. (NASDAQ:BAND) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $170,000.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in Bandwidth by 70.3% in the third quarter. FMR LLC now owns 371,215 shares of the company’s stock valued at $6,500,000 after acquiring an additional 153,223 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Bandwidth in the third quarter valued at approximately $747,000. Charles Schwab Investment Management Inc. lifted its holdings in Bandwidth by 38.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 267,367 shares of the company’s stock valued at $4,682,000 after acquiring an additional 73,795 shares during the last quarter. Geode Capital Management LLC lifted its holdings in 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 acquiring an additional 19,832 shares during the last quarter. Finally, State Street Corp lifted its holdings in 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 acquiring an additional 23,352 shares during the last quarter. 68.53% of the stock is currently owned by institutional investors and hedge funds.

Bandwidth Stock Up 1.2 %

Bandwidth stock opened at $15.03 on Tuesday. Bandwidth Inc. has a twelve month low of $13.51 and a twelve month high of $25.02. The stock’s fifty day simple moving average is $16.75 and its 200-day simple moving average is $17.76. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $430.22 million, a P/E ratio of -26.37 and a beta of 1.57.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.36). Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. The company had revenue of $209.97 million for the quarter, compared to analysts’ expectations of $203.68 million. During the same period in the prior year, the company posted $0.38 EPS. As a group, equities analysts expect that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Activity at Bandwidth

In related news, General Counsel Richard Brandon Asbill sold 9,878 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $15.24, for a total value of $150,540.72. Following the transaction, the general counsel now owns 42,475 shares of the company’s stock, valued at $647,319. This represents a 18.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO David A. Morken sold 2,777 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $17.39, for a total value of $48,292.03. Following the completion of the transaction, the chief executive officer now directly owns 109,783 shares in the company, valued at $1,909,126.37. This trade represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,510 shares of company stock valued at $1,109,806 over the last quarter. 6.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BAND has been the topic of a number of research analyst reports. Morgan Stanley boosted their target price on Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a research report on Wednesday, December 18th. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research report on Friday, February 21st. Barclays cut their target price on Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Finally, William Blair reissued an “outperform” rating on shares of Bandwidth in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Bandwidth currently has an average rating of “Moderate Buy” and a consensus price target of $28.33.

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.