Bandwidth (NASDAQ:BAND) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Bandwidth (NASDAQ:BAND) from a buy rating to a hold rating in a research note released on Sunday.

Several other equities research analysts have also recently weighed in on BAND. Weiss Ratings restated a “sell (d-)” rating on shares of Bandwidth in a research report on Wednesday, January 21st. B. Riley Financial increased their price objective on shares of Bandwidth from $20.00 to $27.00 and gave the company a “buy” rating in a research report on Friday. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.75.

Bandwidth Stock Performance

NASDAQ:BAND opened at $23.01 on Friday. The company has a market cap of $722.28 million, a price-to-earnings ratio of -53.51 and a beta of 2.03. Bandwidth has a 1 year low of $11.33 and a 1 year high of $23.14. The stock’s 50 day simple moving average is $15.97 and its two-hundred day simple moving average is $15.21. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.42 and a quick ratio of 1.42.

Insider Activity

In other news, CFO Daryl E. Raiford sold 16,100 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $15.19, for a total value of $244,559.00. Following the completion of the sale, the chief financial officer directly owned 36,645 shares of the company’s stock, valued at $556,637.55. This trade represents a 30.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.20% of the stock is owned by insiders.

Institutional Trading of Bandwidth

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Diversified Trust Co purchased a new position in Bandwidth during the first quarter worth $184,000. Hsbc Holdings PLC increased its position in Bandwidth by 8.3% during the fourth quarter. Hsbc Holdings PLC now owns 61,239 shares of the company’s stock valued at $950,000 after acquiring an additional 4,686 shares during the last quarter. Invesco Ltd. raised its stake in shares of Bandwidth by 6.7% in the fourth quarter. Invesco Ltd. now owns 66,988 shares of the company’s stock valued at $1,035,000 after acquiring an additional 4,223 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in shares of Bandwidth by 90.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 102,040 shares of the company’s stock valued at $1,577,000 after acquiring an additional 48,359 shares during the period. Finally, Empowered Funds LLC lifted its holdings in shares of Bandwidth by 44.5% in the 4th quarter. Empowered Funds LLC now owns 140,471 shares of the company’s stock worth $2,170,000 after acquiring an additional 43,246 shares during the last quarter. Hedge funds and other institutional investors own 68.53% of the company’s stock.

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.