Bandwidth Inc (NASDAQ:BAND) Director John C. Murdock sold 150,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $73.16, for a total transaction of $10,974,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
BAND stock opened at $76.75 on Friday. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 247.58 and a beta of 0.94. Bandwidth Inc has a 1 year low of $27.75 and a 1 year high of $82.66.
Bandwidth (NASDAQ:BAND) last released its earnings results on Thursday, May 2nd. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.13. The firm had revenue of $53.30 million during the quarter, compared to analysts’ expectations of $51.35 million. Bandwidth had a negative return on equity of 2.45% and a net margin of 6.71%. The company’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 EPS. On average, equities analysts forecast that Bandwidth Inc will post -0.7 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in BAND. Bank of America Corp DE increased its holdings in Bandwidth by 92.3% during the 4th quarter. Bank of America Corp DE now owns 2,552 shares of the company’s stock worth $104,000 after purchasing an additional 1,225 shares in the last quarter. M Holdings Securities Inc. bought a new position in Bandwidth during the 4th quarter worth about $219,000. Jane Street Group LLC bought a new position in Bandwidth during the 1st quarter worth about $237,000. Alambic Investment Management L.P. bought a new position in Bandwidth during the 1st quarter worth about $275,000. Finally, Sigma Planning Corp bought a new position in Bandwidth during the 1st quarter worth about $294,000. Hedge funds and other institutional investors own 54.66% of the company’s stock.
TRADEMARK VIOLATION WARNING: This report was originally published by Ticker Report and is the sole property of of Ticker Report. If you are reading this report on another domain, it was copied illegally and reposted in violation of international trademark & copyright laws. The correct version of this report can be read at https://www.tickerreport.com/banking-finance/4370890/john-c-murdock-sells-150000-shares-of-bandwidth-inc-nasdaqband-stock.html.
Bandwidth Company Profile
Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provider in the United States. The company operates through two segments, CPaaS and Other. Its platform enables enterprises to create, scale, and operate voice or text communications services across mobile application or connected device.
Featured Story: How a Back-End Load Mutual Fund Works
Receive News & Ratings for Bandwidth Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bandwidth and related companies with MarketBeat.com's FREE daily email newsletter.