Dana Investment Advisors Inc. Sells 28,961 Shares of Bandwidth Inc. (NASDAQ:BAND)

Dana Investment Advisors Inc. cut its stake in shares of Bandwidth Inc. (NASDAQ:BAND) by 6.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 449,865 shares of the company’s stock after selling 28,961 shares during the period. Dana Investment Advisors Inc. owned about 1.64% of Bandwidth worth $7,657,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Bandwidth by 12.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 300,076 shares of the company’s stock worth $5,107,000 after acquiring an additional 32,709 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Bandwidth during the 4th quarter valued at about $69,000. Versor Investments LP grew its stake in shares of Bandwidth by 136.1% during the 4th quarter. Versor Investments LP now owns 27,757 shares of the company’s stock valued at $472,000 after purchasing an additional 16,000 shares during the period. Bank of New York Mellon Corp increased its position in shares of Bandwidth by 2.2% during the 4th quarter. Bank of New York Mellon Corp now owns 83,175 shares of the company’s stock valued at $1,416,000 after purchasing an additional 1,811 shares during the last quarter. Finally, Parcion Private Wealth LLC lifted its stake in shares of Bandwidth by 1.7% in the 4th quarter. Parcion Private Wealth LLC now owns 232,137 shares of the company’s stock worth $3,951,000 after purchasing an additional 3,927 shares during the period. 68.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

BAND has been the subject of several recent research reports. Barclays cut their target price on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research report on Friday, February 21st. William Blair restated an “outperform” rating on shares of Bandwidth in a research note on Friday, February 21st. Finally, Morgan Stanley lifted 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.33.

Insider Transactions at Bandwidth

In other news, CFO Daryl Raiford sold 24,253 shares of Bandwidth stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $15.58, for a total transaction of $377,861.74. Following the sale, the chief financial officer now owns 113,795 shares in the company, valued at $1,772,926.10. This trade represents a 17.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Devin M. Krupka sold 3,770 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.70, for a total transaction of $59,189.00. Following the completion of the transaction, the insider now directly owns 19,188 shares in the company, valued at $301,251.60. This trade represents a 16.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,632 shares of company stock valued at $959,265 over the last 90 days. Company insiders own 6.20% of the company’s stock.

Bandwidth Stock Performance

BAND opened at $15.26 on Thursday. The company has a 50 day simple moving average of $17.12 and a two-hundred day simple moving average of $17.89. 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 firm has a market cap of $436.80 million, a P/E ratio of -26.77 and a beta of 1.57. Bandwidth Inc. has a 1-year low of $13.51 and a 1-year high of $25.02.

Bandwidth (NASDAQ:BAND) last issued its earnings results on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $209.97 million during the quarter, compared to the consensus estimate of $203.68 million. During the same period in the prior year, the company posted $0.38 EPS. Equities analysts forecast that Bandwidth Inc. will post 0.22 earnings per share 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.