Bandwidth (NASDAQ:BAND) CFO Daryl Raiford Sells 16,100 Shares

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 16,100 shares of Bandwidth stock in a transaction on Friday, March 13th. The shares were sold at an average price of $15.19, for a total value of $244,559.00. Following the transaction, the chief financial officer owned 36,645 shares in the company, valued at approximately $556,637.55. This trade represents a 30.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Bandwidth Price Performance

Shares of Bandwidth stock traded down $0.30 during trading on Monday, hitting $14.93. The stock had a trading volume of 316,815 shares, compared to its average volume of 373,957. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a market cap of $468.65 million, a P/E ratio of -34.72 and a beta of 2.14. The business has a fifty day moving average of $14.22 and a two-hundred day moving average of $15.05. Bandwidth Inc. has a fifty-two week low of $11.33 and a fifty-two week high of $18.63.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BAND. Weiss Ratings reissued a “sell (d-)” rating on shares of Bandwidth in a report on Wednesday, January 21st. B. Riley Financial assumed coverage on shares of Bandwidth in a research note on Friday, January 23rd. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of Bandwidth from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Bandwidth currently has a consensus rating of “Hold” and an average target price of $20.60.

Institutional Investors Weigh In On Bandwidth

Large investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. lifted its holdings in shares of Bandwidth by 71.4% during the third quarter. Assenagon Asset Management S.A. now owns 327,942 shares of the company’s stock valued at $5,467,000 after purchasing an additional 136,624 shares during the last quarter. Archon Capital Management LLC boosted its position in shares of Bandwidth by 48.3% in the 2nd quarter. Archon Capital Management LLC now owns 291,700 shares of the company’s stock valued at $4,638,000 after purchasing an additional 95,000 shares during the period. Magnetar Financial LLC purchased a new position in Bandwidth in the 2nd quarter worth about $471,000. Bailard Inc. purchased a new position in Bandwidth in the 2nd quarter worth about $275,000. Finally, GSA Capital Partners LLP acquired a new stake in Bandwidth during the 3rd quarter worth about $1,100,000. 68.53% of the stock is owned by institutional investors.

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.