HBK Investments L P Invests $1.73 Million in Bandwidth Inc (BAND)

HBK Investments L P bought a new position in shares of Bandwidth Inc (NASDAQ:BAND) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 75,000 shares of the company’s stock, valued at approximately $1,734,000. HBK Investments L P owned 0.43% of Bandwidth as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the company. Virtu Financial LLC acquired a new stake in shares of Bandwidth during the fourth quarter worth $277,000. Spark Investment Management LLC acquired a new stake in shares of Bandwidth during the fourth quarter worth $436,000. Royce & Associates LP acquired a new stake in shares of Bandwidth during the fourth quarter worth $1,050,000. Two Sigma Investments LP acquired a new stake in shares of Bandwidth during the fourth quarter worth $1,277,000. Finally, Penn Capital Management Co. Inc. acquired a new stake in shares of Bandwidth during the fourth quarter worth $1,830,000. 20.13% of the stock is currently owned by institutional investors.

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A number of brokerages have recently issued reports on BAND. Robert W. Baird reaffirmed an “outperform” rating and set a $30.00 target price (up from $28.00) on shares of Bandwidth in a research report on Thursday, February 22nd. Morgan Stanley began coverage on Bandwidth in a research report on Tuesday, December 5th. They set an “overweight” rating and a $28.00 target price on the stock. Canaccord Genuity reaffirmed a “buy” rating and set a $30.00 target price (up from $28.00) on shares of Bandwidth in a research report on Thursday, February 22nd. KeyCorp began coverage on Bandwidth in a research report on Tuesday, December 5th. They set an “overweight” rating and a $29.00 target price on the stock. Finally, JMP Securities began coverage on Bandwidth in a research report on Tuesday, December 5th. They set an “outperform” rating and a $36.00 target price on the stock. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Bandwidth currently has a consensus rating of “Buy” and an average target price of $31.00.

Bandwidth Inc (NASDAQ:BAND) opened at $29.02 on Tuesday. Bandwidth Inc has a 52-week low of $18.05 and a 52-week high of $30.00.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.11. The business had revenue of $42.47 million for the quarter, compared to analyst estimates of $41.69 million. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.03 earnings per share. sell-side analysts expect that Bandwidth Inc will post -0.14 EPS for the current year.

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About Bandwidth

Bandwidth Inc, formerly Bandwidth.com, Inc, is a cloud-based communications platform-as-a-service provider (CPaaS) that enables enterprises to create, scale and operate voice or text communications services across any mobile application or connected device or enterprises. The Company has two operating and reportable segments, CPaaS and Other.

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Institutional Ownership by Quarter for Bandwidth (NASDAQ:BAND)

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