Bandwidth Inc. $BAND Shares Bought by Portolan Capital Management LLC

Portolan Capital Management LLC boosted its holdings in shares of Bandwidth Inc. (NASDAQ:BAND) by 115.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 745,802 shares of the company’s stock after buying an additional 400,231 shares during the quarter. Portolan Capital Management LLC’s holdings in Bandwidth were worth $12,433,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Savant Capital LLC purchased a new stake in shares of Bandwidth in the 2nd quarter valued at $201,000. Los Angeles Capital Management LLC raised its holdings in shares of Bandwidth by 97.5% during the second quarter. Los Angeles Capital Management LLC now owns 40,982 shares of the company’s stock worth $652,000 after purchasing an additional 20,235 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Bandwidth by 41.4% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,563 shares of the company’s stock valued at $136,000 after purchasing an additional 2,507 shares during the period. Geode Capital Management LLC lifted its position in Bandwidth by 8.9% during the second quarter. Geode Capital Management LLC now owns 648,763 shares of the company’s stock valued at $10,318,000 after purchasing an additional 52,762 shares during the period. Finally, Bailard Inc. purchased a new stake in Bandwidth in the second quarter valued at $275,000. 68.53% of the stock is currently owned by institutional investors and hedge funds.

Bandwidth Stock Performance

BAND opened at $15.23 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a fifty day moving average price of $14.22 and a 200 day moving average price of $15.04. Bandwidth Inc. has a 1 year low of $11.33 and a 1 year high of $18.63. The stock has a market cap of $478.07 million, a P/E ratio of -35.42 and a beta of 2.14.

Analyst Ratings Changes

BAND has been the topic of several analyst reports. B. Riley Financial started coverage on Bandwidth in a research report on Friday, January 23rd. They set a “buy” rating and a $20.00 price target on the stock. Wall Street Zen cut Bandwidth from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Bandwidth in a research note on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.60.

Bandwidth Profile

Bandwidth Inc operates a cloud-based communications platform that provides voice, messaging and emergency services APIs for enterprises and developers. Through its proprietary network and software-as-a-service model, the company enables customers to integrate programmable voice calls, text messaging and 9-1-1 routing into their applications. Bandwidth’s solutions aim to reduce complexity and improve reliability in mission-critical communications, serving industries such as healthcare, financial services, on-demand mobility and customer engagement.

Founded in 1999 in Raleigh, North Carolina by co-founders David Morken and Henry Kaestner, Bandwidth initially focused on voice-over-IP infrastructure before evolving into a full communications API provider.