Bandwidth (NASDAQ:BAND) Insider Sells $41,842.56 in Stock

Bandwidth Inc. (NASDAQ:BAND) insider Devin Krupka sold 2,976 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $14.06, for a total value of $41,842.56. Following the sale, the insider owned 26,428 shares of the company’s stock, valued at $371,577.68. This trade represents a 10.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Bandwidth Stock Performance

Shares of NASDAQ BAND opened at $14.71 on Friday. The stock’s fifty day simple moving average is $15.29 and its 200 day simple moving average is $15.12. The stock has a market capitalization of $448.95 million, a price-to-earnings ratio of -37.72 and a beta of 2.11. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.63. Bandwidth Inc. has a 52-week low of $11.33 and a 52-week high of $21.08.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BAND. Nuveen LLC purchased a new stake in Bandwidth in the 1st quarter worth approximately $7,916,000. Portolan Capital Management LLC increased its stake 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 last quarter. AQR Capital Management LLC raised its holdings in shares of Bandwidth by 303.1% during the first quarter. AQR Capital Management LLC now owns 393,907 shares of the company’s stock worth $5,160,000 after acquiring an additional 296,199 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Bandwidth by 71.4% during the third 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 during the last quarter. Finally, Bridgeway Capital Management LLC acquired a new stake in Bandwidth during the second quarter valued at $2,166,000. Institutional investors and hedge funds own 68.53% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Robert W. Baird set a $16.00 price objective on Bandwidth in a report on Friday, October 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Bandwidth in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Bandwidth from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Wedbush restated an “outperform” rating on shares of Bandwidth in a report on Wednesday, September 17th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.00.

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.