Bandwidth Inc. (NASDAQ:BAND - Get Free Report) CEO David A. Morken sold 2,777 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $17.39, for a total transaction of $48,292.03. Following the transaction, the chief executive officer now owns 109,783 shares in the company, valued at approximately $1,909,126.37. The trade was a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Bandwidth stock traded up $0.45 during trading on Monday, reaching $17.47. 221,689 shares of the company's stock were exchanged, compared to its average volume of 270,030. Bandwidth Inc. has a 52-week low of $11.90 and a 52-week high of $25.02. The firm has a market cap of $480.60 million, a price-to-earnings ratio of -18.78 and a beta of 1.52. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.29 and a current ratio of 1.29. The company's 50-day moving average is $19.10 and its two-hundred day moving average is $18.13.
Bandwidth (NASDAQ:BAND - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.11. The company had revenue of $193.90 million during the quarter, compared to the consensus estimate of $182.05 million. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The company's revenue was up 27.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 earnings per share. On average, analysts predict that Bandwidth Inc. will post 0.08 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. grew its holdings in Bandwidth by 40.9% during the 3rd quarter. Franklin Resources Inc. now owns 77,481 shares of the company's stock valued at $1,325,000 after purchasing an additional 22,505 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Bandwidth by 3.6% during the third quarter. Geode Capital Management LLC now owns 568,667 shares of the company's stock valued at $9,960,000 after acquiring an additional 19,832 shares in the last quarter. Barclays PLC increased its position in shares of Bandwidth by 9.1% during the third quarter. Barclays PLC now owns 224,497 shares of the company's stock worth $3,931,000 after acquiring an additional 18,778 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Bandwidth in the third quarter worth about $453,000. Finally, State Street Corp boosted its holdings in Bandwidth by 3.7% in the third quarter. State Street Corp now owns 655,768 shares of the company's stock valued at $11,482,000 after purchasing an additional 23,352 shares during the last quarter. Hedge funds and other institutional investors own 68.53% of the company's stock.
BAND has been the topic of a number of recent analyst reports. Robert W. Baird increased their price target on shares of Bandwidth from $19.00 to $22.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Bandwidth in a research report on Friday, November 1st. Finally, Morgan Stanley boosted their price target on Bandwidth from $17.00 to $18.00 and gave the company an "underweight" rating in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $28.83.
Read Our Latest Stock Report on Bandwidth
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.
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