Insider Selling: Bandwidth (NASDAQ:BAND) Director Sells $186,360.00 in Stock

Bandwidth Inc. (NASDAQ:BAND) Director Douglas Suriano sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $46.59, for a total value of $186,360.00. Following the transaction, the director owned 41,410 shares in the company, valued at approximately $1,929,291.90. The trade was a 8.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Bandwidth Trading Down 5.6%

Bandwidth stock traded down $2.61 during trading hours on Friday, reaching $43.68. The company had a trading volume of 324,746 shares, compared to its average volume of 880,254. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.92 and a quick ratio of 1.92. The company has a 50-day moving average price of $50.60 and a 200 day moving average price of $42.07. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -363.97, a P/E/G ratio of 3.96 and a beta of 3.17. Bandwidth Inc. has a 12-month low of $12.50 and a 12-month high of $79.08.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. The firm had revenue of $234.02 million during the quarter, compared to the consensus estimate of $233.15 million. Bandwidth had a return on equity of 3.70% and a net margin of 1.01%. The business’s revenue was up 21.9% compared to the same quarter last year. Equities analysts forecast that Bandwidth Inc. will post 0.65 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on BAND shares. Needham & Company LLC reiterated a “buy” rating on shares of Bandwidth in a report on Wednesday. Wall Street Zen raised shares of Bandwidth from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Citigroup restated a “market outperform” rating on shares of Bandwidth in a research report on Friday, October 30th. Piper Sandler boosted their price objective on shares of Bandwidth from $38.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, August 19th. Finally, Weiss Ratings raised shares of Bandwidth from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, November 4th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $66.67.

Institutional Investors Weigh In On Bandwidth

Several institutional investors and hedge funds have recently bought and sold shares of BAND. Wellington Management Group LLP grew its position in shares of Bandwidth by 138.9% in the 2nd quarter. Wellington Management Group LLP now owns 911,893 shares of the company’s stock worth $57,723,000 after buying an additional 530,182 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Bandwidth by 6.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,551,508 shares of the company’s stock valued at $27,647,000 after acquiring an additional 91,812 shares in the last quarter. Voya Investment Management LLC lifted its stake in Bandwidth by 1,851.5% in the third quarter. Voya Investment Management LLC now owns 362,133 shares of the company’s stock worth $21,985,000 after acquiring an additional 343,576 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Bandwidth by 299.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 688,430 shares of the company’s stock worth $12,268,000 after acquiring an additional 516,117 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Bandwidth by 4.2% in the first quarter. Renaissance Technologies LLC now owns 644,981 shares of the company’s stock valued at $11,494,000 after acquiring an additional 26,081 shares in the last quarter. Hedge funds and other institutional investors own 68.53% of the company’s stock.

About Bandwidth

Bandwidth is a cloud communications company that provides software and network services for businesses, communications providers and software developers. Its platform enables organizations to add voice calling, messaging and emergency calling capabilities to their applications and services. The company offers communications APIs, business voice and messaging solutions, and services for managing phone numbers and emergency communications. Bandwidth’s network infrastructure supports these offerings and helps customers connect communications features with their existing systems.