Bandwidth (NASDAQ:BAND) Insider Rebecca Bottorff Sells 5,973 Shares

Bandwidth Inc. (NASDAQ:BAND) insider Rebecca Bottorff sold 5,973 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $14.06, for a total value of $83,980.38. Following the sale, the insider owned 53,352 shares in the company, valued at $750,129.12. The trade was a 10.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Bandwidth Price Performance

Shares of BAND traded up $0.15 during midday trading on Tuesday, reaching $14.21. The stock had a trading volume of 309,799 shares, compared to its average volume of 273,505. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $433.69 million, a price-to-earnings ratio of -36.44 and a beta of 2.11. The company’s 50-day moving average is $15.47 and its 200 day moving average is $15.13. Bandwidth Inc. has a 12-month low of $11.33 and a 12-month high of $21.08.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Numerai GP LLC increased its holdings in Bandwidth by 62.3% during the 3rd quarter. Numerai GP LLC now owns 20,430 shares of the company’s stock valued at $341,000 after purchasing an additional 7,839 shares during the period. Mercer Global Advisors Inc. ADV grew its position in shares of Bandwidth by 2.1% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 53,681 shares of the company’s stock worth $895,000 after buying an additional 1,129 shares during the last quarter. Brevan Howard Capital Management LP purchased a new position in shares of Bandwidth during the third quarter valued at approximately $174,000. Algert Global LLC raised its holdings in shares of Bandwidth by 178.7% during the third quarter. Algert Global LLC now owns 160,977 shares of the company’s stock valued at $2,683,000 after acquiring an additional 103,207 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Bandwidth by 10.5% in the third quarter. Ameriprise Financial Inc. now owns 642,264 shares of the company’s stock worth $10,707,000 after acquiring an additional 61,004 shares during the period. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BAND shares. Robert W. Baird set a $16.00 price target on shares of Bandwidth in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bandwidth in a research note on Wednesday, October 8th. Wall Street Zen cut Bandwidth from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Wedbush reaffirmed an “outperform” rating on shares of Bandwidth in a research note on Wednesday, September 17th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Bandwidth currently has a consensus rating of “Hold” and an average target price of $21.00.

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.