Jacobs Levy Equity Management Inc. Sells 61,198 Shares of Bandwidth Inc. (NASDAQ:BAND)

Jacobs Levy Equity Management Inc. trimmed its holdings in shares of Bandwidth Inc. (NASDAQ:BAND) by 10.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 518,607 shares of the company’s stock after selling 61,198 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 1.89% of Bandwidth worth $8,827,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Bandwidth by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 1,769,027 shares of the company’s stock worth $30,109,000 after acquiring an additional 73,623 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Bandwidth by 9.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company’s stock worth $21,260,000 after acquiring an additional 112,269 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Bandwidth by 15.3% during the 4th quarter. Renaissance Technologies LLC now owns 651,300 shares of the company’s stock worth $11,085,000 after acquiring an additional 86,200 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Bandwidth by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 570,910 shares of the company’s stock worth $9,720,000 after acquiring an additional 2,243 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Bandwidth by 61.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 524,586 shares of the company’s stock worth $8,928,000 after acquiring an additional 200,387 shares during the period. 68.53% of the stock is owned by institutional investors.

Insider Transactions at Bandwidth

In other news, CFO Daryl Raiford sold 24,253 shares of Bandwidth stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $15.58, for a total transaction of $377,861.74. Following the completion of the sale, the chief financial officer now owns 113,795 shares in the company, valued at $1,772,926.10. The trade was a 17.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Devin M. Krupka sold 3,770 shares of Bandwidth stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $15.70, for a total transaction of $59,189.00. Following the sale, the insider now owns 19,188 shares of the company’s stock, valued at approximately $301,251.60. This represents a 16.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,721 shares of company stock worth $992,965 in the last quarter. 6.50% of the stock is owned by company insiders.

Bandwidth Trading Down 0.3%

BAND opened at $14.34 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $410.47 million, a PE ratio of -25.16 and a beta of 1.88. Bandwidth Inc. has a 1-year low of $11.33 and a 1-year high of $23.90. The firm has a 50-day moving average price of $13.32 and a two-hundred day moving average price of $16.46.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.07. The firm had revenue of $174.24 million during the quarter, compared to analysts’ expectations of $168.96 million. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.27 EPS. As a group, equities analysts anticipate that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BAND has been the subject of a number of analyst reports. Needham & Company LLC initiated coverage on shares of Bandwidth in a report on Wednesday, May 7th. They set a “buy” rating and a $20.00 price objective for the company. Robert W. Baird cut their price target on shares of Bandwidth from $20.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. Barclays cut their price target on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, February 21st. William Blair reissued an “outperform” rating on shares of Bandwidth in a report on Friday, February 21st. Finally, Morgan Stanley cut their price target on shares of Bandwidth from $18.00 to $11.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.80.

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.