Bandwidth (NASDAQ:BAND) CFO Daryl Raiford Sells 17,026 Shares

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 17,026 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $15.47, for a total transaction of $263,392.22. Following the completion of the sale, the chief financial officer owned 52,745 shares in the company, valued at approximately $815,965.15. The trade was a 24.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Bandwidth Price Performance

Shares of Bandwidth stock traded down $0.30 during trading on Monday, reaching $14.93. 316,815 shares of the stock traded hands, compared to its average volume of 373,957. The company has a market capitalization of $468.65 million, a price-to-earnings ratio of -34.72 and a beta of 2.14. The business has a fifty day simple moving average of $14.22 and a two-hundred day simple moving average of $15.05. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.42 and a quick ratio of 1.42. Bandwidth Inc. has a 52-week low of $11.33 and a 52-week high of $18.63.

Analyst Upgrades and Downgrades

BAND has been the subject of several research analyst reports. Wall Street Zen cut Bandwidth from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bandwidth in a report on Wednesday, January 21st. Finally, B. Riley Financial assumed coverage on Bandwidth in a research report on Friday, January 23rd. They set a “buy” rating and a $20.00 target price for the company. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $20.60.

Institutional Trading of Bandwidth

A number of large investors have recently made changes to their positions in BAND. Invesco Ltd. lifted its holdings in shares of Bandwidth by 6.7% in the 4th 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 last quarter. Mercer Global Advisors Inc. ADV increased its stake in Bandwidth by 90.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 102,040 shares of the company’s stock worth $1,577,000 after acquiring an additional 48,359 shares during the last quarter. Empowered Funds LLC raised its position in Bandwidth by 44.5% during the fourth quarter. Empowered Funds LLC now owns 140,471 shares of the company’s stock valued at $2,170,000 after purchasing an additional 43,246 shares during the period. Bridgeway Capital Management LLC raised its position in Bandwidth by 46.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 215,471 shares of the company’s stock valued at $3,329,000 after purchasing an additional 68,246 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Bandwidth by 8.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,896 shares of the company’s stock valued at $462,000 after purchasing an additional 2,250 shares during the last quarter. 68.53% of the stock is currently 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.