Brokerages Set Bandwidth Inc. (NASDAQ:BAND) PT at $20.83

Shares of Bandwidth Inc. (NASDAQ:BAND) have received an average recommendation of “Hold” from the nine ratings firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $20.8333.

A number of research firms have recently issued reports on BAND. Robert W. Baird set a $16.00 target price on Bandwidth in a report on Friday, October 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Bandwidth in a research report on Wednesday, January 21st. Wall Street Zen lowered Bandwidth from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. Finally, B. Riley Financial assumed coverage on Bandwidth in a research note on Friday, January 23rd. They set a “buy” rating and a $20.00 target price on the stock.

Bandwidth Price Performance

BAND stock opened at $13.56 on Friday. Bandwidth has a one year low of $11.33 and a one year high of $19.88. The firm has a 50-day moving average of $14.40 and a two-hundred day moving average of $14.95. The firm has a market capitalization of $413.85 million, a PE ratio of -34.77 and a beta of 2.15. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.63.

Insider Activity

In other news, CFO Daryl E. Raiford sold 21,515 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $14.06, for a total value of $302,500.90. Following the transaction, the chief financial officer directly owned 98,535 shares of the company’s stock, valued at approximately $1,385,402.10. This represents a 17.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Rebecca Bottorff sold 5,973 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $14.06, for a total value of $83,980.38. Following the sale, the insider owned 53,352 shares of the company’s stock, valued at approximately $750,129.12. This represents a 10.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 63,463 shares of company stock valued at $895,210 in the last three months. 6.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Portolan Capital Management LLC grew its stake in shares of Bandwidth by 115.8% in the 3rd quarter. Portolan Capital Management LLC now owns 745,802 shares of the company’s stock valued at $12,433,000 after buying an additional 400,231 shares in the last quarter. AQR Capital Management LLC lifted its stake in Bandwidth by 49.1% in the second quarter. AQR Capital Management LLC now owns 587,305 shares of the company’s stock valued at $9,338,000 after acquiring an additional 193,398 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Bandwidth by 71.4% in the third quarter. Assenagon Asset Management S.A. now owns 327,942 shares of the company’s stock worth $5,467,000 after acquiring an additional 136,624 shares in the last quarter. Bridgeway Capital Management LLC acquired a new position in shares of Bandwidth during the 2nd quarter worth $2,166,000. Finally, UBS Group AG increased its stake in shares of Bandwidth by 189.2% during the 4th quarter. UBS Group AG now owns 205,300 shares of the company’s stock worth $3,172,000 after purchasing an additional 134,309 shares during the last quarter. 68.53% of the stock is owned by institutional investors and hedge funds.

Bandwidth Company Profile

Bandwidth Inc operates a cloud-based communications platform that provides voice, messaging and emergency services APIs for enterprises and developers. Through its proprietary network and software-as-a-service model, the company enables customers to integrate programmable voice calls, text messaging and 9-1-1 routing into their applications. Bandwidth’s solutions aim to reduce complexity and improve reliability in mission-critical communications, serving industries such as healthcare, financial services, on-demand mobility and customer engagement.

Founded in 1999 in Raleigh, North Carolina by co-founders David Morken and Henry Kaestner, Bandwidth initially focused on voice-over-IP infrastructure before evolving into a full communications API provider.