Laurion Capital Management LP boosted its holdings in Bandwidth Inc (NASDAQ:BAND) by 41.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 270,156 shares of the company’s stock after buying an additional 78,651 shares during the period. Laurion Capital Management LP owned approximately 1.40% of Bandwidth worth $14,472,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BAND. Wasatch Advisors Inc. boosted its stake in shares of Bandwidth by 33.6% in the second quarter. Wasatch Advisors Inc. now owns 133,015 shares of the company’s stock worth $5,052,000 after acquiring an additional 33,471 shares during the last quarter. Wedbush Securities Inc. boosted its stake in shares of Bandwidth by 314.1% in the second quarter. Wedbush Securities Inc. now owns 34,078 shares of the company’s stock worth $1,294,000 after acquiring an additional 25,848 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Bandwidth in the second quarter worth approximately $1,043,000. Bank of New York Mellon Corp boosted its stake in shares of Bandwidth by 48.1% in the second quarter. Bank of New York Mellon Corp now owns 889,436 shares of the company’s stock worth $33,780,000 after acquiring an additional 288,730 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Bandwidth by 3.4% in the second quarter. Russell Investments Group Ltd. now owns 40,463 shares of the company’s stock worth $1,537,000 after acquiring an additional 1,341 shares during the last quarter. Institutional investors and hedge funds own 39.37% of the company’s stock.

NASDAQ BAND opened at $44.11 on Thursday. Bandwidth Inc has a fifty-two week low of $19.45 and a fifty-two week high of $57.50. The firm has a market cap of $853.44 million and a price-to-earnings ratio of 90.02.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings data on Tuesday, October 30th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.15. Bandwidth had a return on equity of 4.99% and a net margin of 9.58%. The company had revenue of $50.50 million for the quarter, compared to analyst estimates of $47.94 million. During the same period last year, the company posted $0.15 earnings per share. The firm’s revenue was up 22.3% compared to the same quarter last year. Equities analysts forecast that Bandwidth Inc will post 0.09 EPS for the current fiscal year.

A number of analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Bandwidth from $40.00 to $44.00 and gave the stock a “hold” rating in a research note on Wednesday, October 31st. ValuEngine raised Bandwidth from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Zacks Investment Research lowered Bandwidth from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 5th. KeyCorp reaffirmed an “overweight” rating and issued a $64.00 price target on shares of Bandwidth in a research note on Monday, September 3rd. Finally, Canaccord Genuity boosted their price objective on Bandwidth from $44.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $47.60.

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Bandwidth Company Profile

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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Institutional Ownership by Quarter for Bandwidth (NASDAQ:BAND)

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