Bandwidth (NASDAQ:BAND) Stock Price Down 2.7% – What’s Next?

Bandwidth Inc. (NASDAQ:BAND)’s stock price fell 2.7% during trading on Thursday . The company traded as low as $13.05 and last traded at $13.15. 261,527 shares traded hands during trading, an increase of 24% from the average session volume of 211,186 shares. The stock had previously closed at $13.52.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BAND shares. Wall Street Zen downgraded shares of Bandwidth from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. Robert W. Baird set a $16.00 price objective on Bandwidth in a report on Friday, October 31st. B. Riley assumed coverage on shares of Bandwidth in a research note on Friday, January 23rd. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Bandwidth in a research note on Wednesday, January 21st. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.83.

Bandwidth Trading Down 2.7%

The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.63. The firm has a market cap of $401.34 million, a price-to-earnings ratio of -33.72 and a beta of 2.15. The firm’s 50-day moving average is $14.45 and its 200-day moving average is $15.00.

Insider Activity at Bandwidth

In related news, insider Rebecca Bottorff sold 5,973 shares of Bandwidth stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $14.06, for a total value of $83,980.38. Following the completion of the transaction, the insider directly owned 53,352 shares in the company, valued at approximately $750,129.12. The trade was a 10.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Devesh Agarwal sold 4,202 shares of Bandwidth stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $14.06, for a total value of $59,080.12. Following the sale, the chief operating officer owned 77,482 shares of the company’s stock, valued at approximately $1,089,396.92. This trade represents a 5.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 63,463 shares of company stock worth $895,210 over the last 90 days. Corporate insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BAND. Assenagon Asset Management S.A. raised its holdings 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 buying an additional 136,624 shares during the last quarter. Campbell & CO Investment Adviser LLC increased its stake in shares of Bandwidth by 33.5% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 83,388 shares of the company’s stock worth $1,326,000 after purchasing an additional 20,945 shares in the last quarter. Archon Capital Management LLC increased its position in Bandwidth by 48.3% in the second quarter. Archon Capital Management LLC now owns 291,700 shares of the company’s stock worth $4,638,000 after buying an additional 95,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Bandwidth during the 2nd quarter worth approximately $211,000. Finally, Magnetar Financial LLC purchased a new stake in Bandwidth in the 2nd quarter worth $471,000. 68.53% of the stock is owned by hedge funds and other institutional investors.

About Bandwidth

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.