Bandwidth Inc (NASDAQ:BAND) CEO David A. Morken sold 28,592 shares of Bandwidth stock in a transaction on Thursday, January 10th. The stock was sold at an average price of $41.82, for a total transaction of $1,195,717.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of NASDAQ:BAND opened at $41.61 on Friday. Bandwidth Inc has a 12 month low of $19.45 and a 12 month high of $57.50. The firm has a market cap of $811.84 million, a P/E ratio of 84.92 and a beta of 0.55.
Bandwidth (NASDAQ:BAND) last issued its quarterly earnings data on Tuesday, October 30th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.15. Bandwidth had a net margin of 9.58% and a return on equity of 4.99%. The business had revenue of $50.50 million for the quarter, compared to analyst estimates of $47.94 million. During the same period last year, the business posted $0.15 earnings per share. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. Analysts predict that Bandwidth Inc will post 0.09 EPS for the current year.
Large investors have recently modified their holdings of the stock. Citadel Advisors LLC acquired a new stake in shares of Bandwidth during the second quarter worth $213,000. Man Group plc acquired a new stake in shares of Bandwidth during the third quarter worth $348,000. Jane Street Group LLC acquired a new stake in shares of Bandwidth during the second quarter worth $381,000. Virtu Financial LLC acquired a new stake in shares of Bandwidth during the third quarter worth $512,000. Finally, Northern Trust Corp raised its holdings in shares of Bandwidth by 85.3% during the second quarter. Northern Trust Corp now owns 14,946 shares of the company’s stock worth $568,000 after acquiring an additional 6,882 shares during the period. Institutional investors and hedge funds own 39.35% of the company’s stock.
A number of equities analysts have recently weighed in on the stock. ValuEngine raised shares of Bandwidth from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Morgan Stanley lifted their price target on shares of Bandwidth from $40.00 to $44.00 and gave the stock a “hold” rating in a research report on Wednesday, October 31st. Zacks Investment Research cut shares of Bandwidth from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 5th. Finally, Canaccord Genuity lifted their price target on shares of Bandwidth from $44.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $48.00.
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Bandwidth Company Profile
Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provides in the United States. The company operates through two segments, CPaaS and Other. Its platform enables enterprises to create, scale, and operate voice or text communications services across mobile application or connected device.
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