Bandwidth (NASDAQ:BAND) CFO Daryl Raiford Sells 6,719 Shares of Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 6,719 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $14.50, for a total transaction of $97,425.50. Following the completion of the transaction, the chief financial officer owned 91,816 shares of the company’s stock, valued at $1,331,332. The trade was a 6.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Daryl Raiford also recently made the following trade(s):

• On Tuesday, September 9th, Daryl Raiford sold 14,143 shares of Bandwidth stock. The stock was sold at an average price of $15.47, for a total transaction of $218,792.21.
• On Monday, September 8th, Daryl Raiford sold 1,625 shares of Bandwidth stock. The stock was sold at an average price of $15.70, for a total transaction of $25,512.50.
• On Monday, September 8th, Daryl Raiford sold 5,000 shares of Bandwidth stock. The stock was sold at an average price of $15.71, for a total value of $78,550.00.
• On Friday, September 5th, Daryl Raiford sold 19,000 shares of Bandwidth stock. The stock was sold at an average price of $15.50, for a total transaction of $294,500.00.

Bandwidth Stock Up 1.5%

Shares of NASDAQ BAND traded up $0.22 during trading on Friday, hitting $14.93. The stock had a trading volume of 11,563 shares, compared to its average volume of 272,824. Bandwidth Inc. has a 12 month low of $11.33 and a 12 month high of $21.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.39 and a quick ratio of 1.39. The company has a market capitalization of $455.51 million, a PE ratio of -38.27 and a beta of 2.11. The firm has a fifty day moving average of $15.29 and a two-hundred day moving average of $15.12.

Institutional Investors Weigh In On Bandwidth

Large investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd bought a new position in shares of Bandwidth during the first quarter valued at approximately $495,000. US Bancorp DE boosted its holdings in Bandwidth by 11,281.3% during the 1st quarter. US Bancorp DE now owns 5,463 shares of the company’s stock valued at $72,000 after acquiring an additional 5,415 shares during the period. New Age Alpha Advisors LLC grew its position in Bandwidth by 363.0% in the 1st quarter. New Age Alpha Advisors LLC now owns 13,640 shares of the company’s stock valued at $179,000 after acquiring an additional 10,694 shares during the last quarter. Vanguard Group Inc. increased its stake in Bandwidth by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,785,698 shares of the company’s stock worth $23,393,000 after purchasing an additional 16,671 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Bandwidth by 16.6% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 611,880 shares of the company’s stock worth $8,016,000 after purchasing an additional 87,294 shares during the period. 68.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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