Bandwidth (NASDAQ:BAND) Director Sells $17,046.45 in Stock

Bandwidth Inc. (NASDAQ:BAND) Director John Murdock sold 1,215 shares of Bandwidth stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $14.03, for a total value of $17,046.45. Following the sale, the director directly owned 112,156 shares of the company’s stock, valued at $1,573,548.68. This trade represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Bandwidth Stock Down 0.1%

BAND stock opened at $14.71 on Friday. The stock has a market cap of $448.95 million, a P/E ratio of -37.72 and a beta of 2.11. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.63. Bandwidth Inc. has a twelve month low of $11.33 and a twelve month high of $21.08. The company’s 50 day moving average is $15.29 and its two-hundred day moving average is $15.12.

Analyst Ratings Changes

Several equities analysts recently commented on BAND shares. Wedbush reiterated an “outperform” rating on shares of Bandwidth in a research note on Wednesday, September 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bandwidth in a research note on Wednesday, October 8th. Robert W. Baird set a $16.00 target price on shares of Bandwidth in a research report on Friday, October 31st. Finally, Wall Street Zen lowered Bandwidth from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Five analysts have rated the stock with a Buy rating, one has issued 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.

Institutional Trading of Bandwidth

A number of hedge funds have recently made changes to their positions in BAND. Nuveen LLC acquired a new stake in shares of Bandwidth during the 1st quarter valued at $7,916,000. Portolan Capital Management LLC boosted its holdings in Bandwidth by 115.8% during the third quarter. Portolan Capital Management LLC now owns 745,802 shares of the company’s stock valued at $12,433,000 after purchasing an additional 400,231 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Bandwidth by 303.1% in the 1st quarter. AQR Capital Management LLC now owns 393,907 shares of the company’s stock valued at $5,160,000 after purchasing an additional 296,199 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Bandwidth by 71.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 327,942 shares of the company’s stock worth $5,467,000 after buying an additional 136,624 shares in the last quarter. Finally, Bridgeway Capital Management LLC bought a new position in shares of Bandwidth during the 2nd quarter worth approximately $2,166,000. 68.53% of the stock is owned by hedge funds and other institutional investors.

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.