Bandwidth (NASDAQ:BAND) Insider Devin Krupka Sells 2,976 Shares of Stock

Bandwidth Inc. (NASDAQ:BAND) insider Devin Krupka sold 2,976 shares of Bandwidth stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $14.06, for a total value of $41,842.56. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link.

Bandwidth Stock Performance

Shares of Bandwidth stock opened at $14.21 on Wednesday. Bandwidth Inc. has a 52 week low of $11.33 and a 52 week high of $21.08. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.63. The business has a 50 day moving average price of $15.40 and a 200-day moving average price of $15.13. The company has a market cap of $433.69 million, a PE ratio of -36.44 and a beta of 2.11.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its position in shares of Bandwidth by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 19,383 shares of the company’s stock valued at $323,000 after acquiring an additional 1,114 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in Bandwidth by 2.1% during the third quarter. Mercer Global Advisors Inc. ADV now owns 53,681 shares of the company’s stock valued at $895,000 after purchasing an additional 1,129 shares during the period. Rhumbline Advisers grew its holdings in Bandwidth by 3.7% during the first quarter. Rhumbline Advisers now owns 35,603 shares of the company’s stock valued at $466,000 after purchasing an additional 1,255 shares during the period. Harbor Capital Advisors Inc. raised its stake in shares of Bandwidth by 30.3% in the third quarter. Harbor Capital Advisors Inc. now owns 7,509 shares of the company’s stock valued at $125,000 after buying an additional 1,748 shares during the period. Finally, AlphaQuest LLC raised its stake in shares of Bandwidth by 10.0% in the first quarter. AlphaQuest LLC now owns 19,451 shares of the company’s stock valued at $255,000 after buying an additional 1,767 shares during the period. 68.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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