Smith Graham & Co. Investment Advisors LP Sells 2,882 Shares of Bandwidth Inc. (NASDAQ:BAND)

Smith Graham & Co. Investment Advisors LP trimmed its holdings in Bandwidth Inc. (NASDAQ:BAND) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 485,035 shares of the company’s stock after selling 2,882 shares during the quarter. Smith Graham & Co. Investment Advisors LP owned about 1.89% of Bandwidth worth $7,018,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Legal & General Group Plc raised its holdings in shares of Bandwidth by 5.0% in the fourth quarter. Legal & General Group Plc now owns 8,699 shares of the company’s stock valued at $200,000 after buying an additional 414 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of Bandwidth by 1.5% in the third quarter. UBS Asset Management Americas Inc. now owns 33,138 shares of the company’s stock valued at $394,000 after buying an additional 486 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Bandwidth by 4.3% in the fourth quarter. Raymond James & Associates now owns 11,782 shares of the company’s stock valued at $270,000 after buying an additional 487 shares during the last quarter. Advisor Group Holdings Inc. raised its holdings in shares of Bandwidth by 24.4% in the fourth quarter. Advisor Group Holdings Inc. now owns 3,610 shares of the company’s stock valued at $83,000 after buying an additional 709 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Bandwidth by 36.8% in the third quarter. Tower Research Capital LLC TRC now owns 2,946 shares of the company’s stock valued at $36,000 after buying an additional 792 shares during the last quarter. 68.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

BAND has been the subject of a number of research analyst reports. Barclays lifted their price target on Bandwidth from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. KeyCorp boosted their price objective on Bandwidth from $16.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Finally, Canaccord Genuity Group boosted their price objective on Bandwidth from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $19.71.

Bandwidth Trading Down 2.5 %

Shares of Bandwidth stock traded down $0.45 during trading on Friday, hitting $17.30. 55,246 shares of the company were exchanged, compared to its average volume of 360,246. Bandwidth Inc. has a 1-year low of $9.34 and a 1-year high of $21.68. The firm’s fifty day moving average price is $16.84 and its 200 day moving average price is $13.85. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.06 and a quick ratio of 2.06.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). Bandwidth had a negative net margin of 2.72% and a negative return on equity of 3.10%. The business had revenue of $165.00 million during the quarter, compared to analyst estimates of $154.17 million. During the same quarter in the prior year, the firm posted $0.04 earnings per share. Bandwidth’s revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts anticipate that Bandwidth Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Transactions at Bandwidth

In other news, COO Anthony Bartolo sold 7,798 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $18.75, for a total transaction of $146,212.50. Following the completion of the transaction, the chief operating officer now directly owns 76,469 shares of the company’s stock, valued at approximately $1,433,793.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 13,034 shares of company stock valued at $245,788 in the last ninety days. 5.80% of the stock is currently owned by corporate insiders.

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.