Bandwidth (NASDAQ:BAND) Insider Kade Ross Sells 3,819 Shares

Bandwidth Inc. (NASDAQ:BAND) insider Kade Ross sold 3,819 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $14.06, for a total transaction of $53,695.14. Following the completion of the transaction, the insider directly owned 80,540 shares in the company, valued at $1,132,392.40. This represents a 4.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Bandwidth Trading Up 1.1%

Shares of BAND stock opened at $14.21 on Wednesday. The firm has a market capitalization of $433.69 million, a PE ratio of -36.44 and a beta of 2.11. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.39 and a current ratio of 1.39. Bandwidth Inc. has a 1 year low of $11.33 and a 1 year high of $21.08. The stock has a fifty day moving average of $15.40 and a two-hundred day moving average of $15.13.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BAND. Wall Street Zen downgraded Bandwidth from a “buy” rating to a “hold” rating in a report 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 price target on Bandwidth in a report on Friday, October 31st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Bandwidth in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Bandwidth presently has an average rating of “Hold” and a consensus price target of $21.00.

Institutional Trading of Bandwidth

A number of institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC raised its holdings in shares of Bandwidth by 183.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,776 shares of the company’s stock valued at $60,000 after purchasing an additional 2,445 shares in the last quarter. State of Wyoming acquired a new stake in shares of Bandwidth in the third quarter worth about $71,000. US Bancorp DE boosted its stake in shares of Bandwidth by 11,281.3% during the 1st quarter. US Bancorp DE now owns 5,463 shares of the company’s stock worth $72,000 after acquiring an additional 5,415 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Bandwidth during the 2nd quarter valued at about $85,000. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Bandwidth by 30.3% in the third quarter. Harbor Capital Advisors Inc. now owns 7,509 shares of the company’s stock worth $125,000 after purchasing an additional 1,748 shares during the period. 68.53% of the stock is currently owned by institutional investors and hedge funds.

Bandwidth Company Profile

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.