Bandwidth Inc (NASDAQ:BAND) CEO David A. Morken sold 4,781 shares of Bandwidth stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $70.05, for a total value of $334,909.05. Following the sale, the chief executive officer now directly owns 3,357 shares in the company, valued at $235,157.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Shares of BAND traded up $0.53 during mid-day trading on Tuesday, reaching $70.51. The company had a trading volume of 137,592 shares, compared to its average volume of 156,692. The firm has a 50-day moving average price of $60.72 and a 200 day moving average price of $68.18. Bandwidth Inc has a 52 week low of $39.76 and a 52 week high of $90.63. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 227.45 and a beta of 0.53.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.09. Bandwidth had a negative return on equity of 4.52% and a net margin of 1.42%. The firm had revenue of $60.50 million for the quarter, compared to analysts’ expectations of $58.78 million. During the same period in the previous year, the firm posted ($0.05) EPS. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. On average, research analysts anticipate that Bandwidth Inc will post -0.6 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. US Bancorp DE boosted its position in shares of Bandwidth by 66.8% in the 2nd quarter. US Bancorp DE now owns 502 shares of the company’s stock worth $37,000 after purchasing an additional 201 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Bandwidth in the 3rd quarter worth approximately $49,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Bandwidth by 118.3% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 738 shares of the company’s stock worth $55,000 after purchasing an additional 400 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Bandwidth in the 2nd quarter worth approximately $103,000. Finally, Metropolitan Life Insurance Co NY bought a new stake in shares of Bandwidth in the 3rd quarter worth approximately $323,000. 68.22% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have weighed in on BAND. Needham & Company LLC began coverage on Bandwidth in a research report on Tuesday, December 3rd. They set a “buy” rating and a $65.00 price objective on the stock. Morgan Stanley cut Bandwidth from an “underweight” rating to an “equal” rating in a research report on Tuesday, October 22nd. ValuEngine cut Bandwidth from a “hold” rating to a “sell” rating in a research report on Wednesday, December 18th. Zacks Investment Research raised Bandwidth from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research report on Tuesday, January 7th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $76.00 price objective on shares of Bandwidth in a research report on Monday. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $74.86.

About Bandwidth

Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provider 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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