Insider Selling: Bandwidth Inc (BAND) Director Sells 20,000 Shares of Stock
Bandwidth Inc (NASDAQ:BAND) Director Brian D. Bailey sold 20,000 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $66.93, for a total transaction of $1,338,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of NASDAQ:BAND opened at $68.55 on Wednesday. Bandwidth Inc has a 52 week low of $27.75 and a 52 week high of $69.80. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 221.13 and a beta of 0.79.
Bandwidth (NASDAQ:BAND) last announced its quarterly earnings data on Wednesday, February 13th. The company reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.25. Bandwidth had a net margin of 8.78% and a return on equity of 2.14%. The company had revenue of $52.34 million for the quarter, compared to the consensus estimate of $49.37 million. During the same period in the prior year, the firm posted $0.09 EPS. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Bandwidth Inc will post -0.81 earnings per share for the current year.
BAND has been the topic of a number of recent analyst reports. ValuEngine raised shares of Bandwidth from a “hold” rating to a “buy” rating in a research report on Wednesday, January 2nd. Morgan Stanley increased their price objective on shares of Bandwidth from $44.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, January 7th. Zacks Investment Research downgraded shares of Bandwidth from a “hold” rating to a “sell” rating in a research report on Monday, February 18th. KeyCorp increased their price objective on shares of Bandwidth from $64.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, March 25th. Finally, Canaccord Genuity increased their price objective on shares of Bandwidth from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Bandwidth has an average rating of “Buy” and a consensus price target of $63.20.
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Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provides 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.
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