Key Points
- Director Douglas Suriano sold 4,000 Bandwidth shares for about $186,360, reducing his stake by 8.81% to 41,410 shares. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Bandwidth shares fell 5.5% to $43.76 in Friday trading. The company’s latest quarter beat earnings and revenue estimates, with revenue up 21.9% year over year.
- Analysts’ average rating is Hold, with an average price target of $66.67; four analysts rate the stock Buy and five rate it Hold.
Bandwidth Inc. (NASDAQ:BAND - Get Free Report) Director Douglas Suriano sold 4,000 shares of the business's stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $46.59, for a total transaction of $186,360.00. Following the sale, the director owned 41,410 shares in the company, valued at $1,929,291.90. This represents a 8.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Bandwidth Trading Down 5.5%
Shares of NASDAQ:BAND traded down $2.53 during mid-day trading on Friday, hitting $43.76. The stock had a trading volume of 324,746 shares, compared to its average volume of 959,534. The company's 50 day moving average is $50.53 and its 200-day moving average is $42.21. Bandwidth Inc. has a 12-month low of $12.50 and a 12-month high of $79.08. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.92 and a current ratio of 1.92. The company has a market cap of $1.42 billion, a PE ratio of -364.64, a P/E/G ratio of 3.81 and a beta of 3.17.
Bandwidth (NASDAQ:BAND - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.03. Bandwidth had a net margin of 1.01% and a return on equity of 3.70%. The firm had revenue of $234.02 million for the quarter, compared to analysts' expectations of $233.15 million. Bandwidth's revenue was up 21.9% on a year-over-year basis. On average, sell-side analysts predict that Bandwidth Inc. will post 0.65 EPS for the current year.
Wall Street Analysts Forecast Growth
BAND has been the subject of several recent analyst reports. Weiss Ratings raised Bandwidth from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, November 4th. Needham & Company LLC reiterated a "buy" rating on shares of Bandwidth in a report on Wednesday. Wall Street Zen raised Bandwidth from a "hold" rating to a "buy" rating in a research report on Saturday, October 31st. Morgan Stanley increased their price objective on Bandwidth from $56.00 to $57.00 and gave the stock an "equal weight" rating in a research note on Friday, October 30th. Finally, Piper Sandler raised their price objective on Bandwidth from $38.00 to $52.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 19th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $66.67.
Check Out Our Latest Report on BAND
Hedge Funds Weigh In On Bandwidth
Several institutional investors and hedge funds have recently modified their holdings of BAND. Tidal Investments LLC purchased a new stake in shares of Bandwidth during the 2nd quarter worth about $1,451,000. Bastion Asset Management Inc. acquired a new stake in shares of Bandwidth during the 1st quarter valued at about $6,592,000. Walleye Capital LLC acquired a new stake in shares of Bandwidth during the 1st quarter valued at about $1,069,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Bandwidth by 299.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 688,430 shares of the company's stock valued at $12,268,000 after buying an additional 516,117 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new stake in shares of Bandwidth in the 2nd quarter valued at approximately $2,218,000. 68.53% of the stock is currently owned by hedge funds and other institutional investors.
Bandwidth Company Profile
(
Get Free Report)
Bandwidth is a cloud communications company that provides software and network services for businesses, communications providers and software developers. Its platform enables organizations to add voice calling, messaging and emergency calling capabilities to their applications and services. The company offers communications APIs, business voice and messaging solutions, and services for managing phone numbers and emergency communications. Bandwidth's network infrastructure supports these offerings and helps customers connect communications features with their existing systems.
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