Bandwidth Inc. (NASDAQ:BAND – Get Free Report) insider Kade Ross sold 20,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $51.56, for a total transaction of $1,031,200.00. Following the transaction, the insider owned 43,894 shares in the company, valued at approximately $2,263,174.64. The trade was a 31.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Kade Ross also recently made the following trade(s):
- On Thursday, April 30th, Kade Ross sold 10,000 shares of Bandwidth stock. The stock was sold at an average price of $31.59, for a total transaction of $315,900.00.
Bandwidth Trading Up 2.1%
Shares of BAND stock opened at $52.10 on Friday. The firm has a market cap of $1.67 billion, a P/E ratio of -137.11 and a beta of 2.72. Bandwidth Inc. has a 1-year low of $12.50 and a 1-year high of $53.21. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.94 and a quick ratio of 0.94. The firm’s 50-day simple moving average is $23.70 and its 200-day simple moving average is $17.69.
Institutional Trading of Bandwidth
Hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP acquired a new stake in shares of Bandwidth during the third quarter worth approximately $1,100,000. Portolan Capital Management LLC grew its position in shares of Bandwidth by 115.8% during the third quarter. Portolan Capital Management LLC now owns 745,802 shares of the company’s stock worth $12,433,000 after buying an additional 400,231 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Bandwidth by 8.3% during the fourth quarter. Hsbc Holdings PLC now owns 61,239 shares of the company’s stock worth $950,000 after buying an additional 4,686 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Bandwidth by 51.1% during the first quarter. Assenagon Asset Management S.A. now owns 491,873 shares of the company’s stock worth $8,765,000 after buying an additional 166,423 shares in the last quarter. Finally, Diversified Trust Co acquired a new stake in shares of Bandwidth during the first quarter worth approximately $184,000. Institutional investors and hedge funds own 68.53% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms recently commented on BAND. Needham & Company LLC raised their price target on shares of Bandwidth from $45.00 to $60.00 and gave the company a “buy” rating in a report on Thursday. Citigroup restated an “outperform” rating on shares of Bandwidth in a report on Thursday, April 30th. B. Riley Financial raised their price target on shares of Bandwidth from $20.00 to $27.00 and gave the company a “buy” rating in a report on Friday, April 17th. Wall Street Zen upgraded shares of Bandwidth from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Bandwidth in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.33.
Read Our Latest Analysis on Bandwidth
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.
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