Devesh Agarwal Sells 5,239 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) COO Devesh Agarwal sold 5,239 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.26, for a total value of $111,381.14. Following the transaction, the chief operating officer now directly owns 38,839 shares of the company’s stock, valued at $825,717.14. The trade was a 11.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Bandwidth Price Performance

BAND stock opened at $20.29 on Wednesday. The business has a fifty day moving average of $18.71 and a two-hundred day moving average of $18.29. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.83. The stock has a market cap of $558.18 million, a price-to-earnings ratio of -21.82 and a beta of 1.51. Bandwidth Inc. has a 52-week low of $11.01 and a 52-week high of $25.02.

Bandwidth (NASDAQ:BAND) last posted its earnings results on Thursday, October 31st. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.11. The company had revenue of $193.90 million during the quarter, compared to analysts’ expectations of $182.05 million. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The firm’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.03 earnings per share. As a group, research analysts anticipate that Bandwidth Inc. will post 0.08 earnings per share for the current year.

Institutional Investors Weigh In On Bandwidth

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Innealta Capital LLC acquired a new stake in Bandwidth during the second quarter worth $30,000. nVerses Capital LLC boosted its position in shares of Bandwidth by 80.0% during the third quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $32,000 after buying an additional 800 shares during the period. Redwood Wealth Management Group LLC purchased a new position in shares of Bandwidth during the second quarter worth $35,000. Quarry LP boosted its position in shares of Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after buying an additional 1,245 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Bandwidth during the second quarter worth $57,000. Institutional investors and hedge funds own 68.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a report on Friday, November 1st. JMP Securities reaffirmed a “market outperform” rating and issued a $36.00 price target on shares of Bandwidth in a report on Tuesday, August 27th. Finally, Robert W. Baird increased their price target on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $28.33.

About Bandwidth

Bandwidth is a leading enterprise cloud communications company. Companies like Cisco, Google, Microsoft, RingCentral, Uber, and Zoom use Bandwidth’s APIs to easily embed voice, messaging, and emergency services into software and applications. Bandwidth is the first and only CPaaS provider offering a robust selection of communications APIs built around their own IP voice network.