Bandwidth (NASDAQ:BAND) Insider Sells $83,980.38 in Stock

Bandwidth Inc. (NASDAQ:BAND) insider Rebecca Bottorff sold 5,973 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $14.06, for a total transaction of $83,980.38. Following the transaction, the insider owned 53,352 shares in the company, valued at $750,129.12. This represents a 10.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Bandwidth Stock Up 1.1%

BAND traded up $0.15 on Tuesday, hitting $14.21. The company had a trading volume of 309,799 shares, compared to its average volume of 273,505. The stock has a fifty day simple moving average of $15.47 and a 200-day simple moving average of $15.13. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a market capitalization of $433.69 million, a P/E ratio of -36.44 and a beta of 2.11. Bandwidth Inc. has a 52-week low of $11.33 and a 52-week high of $21.08.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wall Street Zen cut Bandwidth from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Wedbush restated an “outperform” rating on shares of Bandwidth in a report on Wednesday, September 17th. Robert W. Baird set a $16.00 target price on shares of Bandwidth in a research report on Friday, October 31st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Bandwidth in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $21.00.

Institutional Investors Weigh In On Bandwidth

Hedge funds have recently added to or reduced their stakes in the stock. Numerai GP LLC grew its stake in shares of Bandwidth by 62.3% in the third quarter. Numerai GP LLC now owns 20,430 shares of the company’s stock worth $341,000 after acquiring an additional 7,839 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Bandwidth by 2.1% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 53,681 shares of the company’s stock worth $895,000 after purchasing an additional 1,129 shares in the last quarter. Brevan Howard Capital Management LP bought a new position in Bandwidth in the 3rd quarter worth about $174,000. Algert Global LLC grew its position in Bandwidth by 178.7% during the 3rd quarter. Algert Global LLC now owns 160,977 shares of the company’s stock valued at $2,683,000 after purchasing an additional 103,207 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Bandwidth by 10.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 642,264 shares of the company’s stock valued at $10,707,000 after purchasing an additional 61,004 shares in the last quarter. 68.53% of the stock is owned by institutional investors.

About 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.