Daryl Raiford Sells 7,600 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BANDGet Free Report) CFO Daryl Raiford sold 7,600 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $20.80, for a total transaction of $158,080.00. Following the sale, the chief financial officer now directly owns 60,476 shares of the company’s stock, valued at approximately $1,257,900.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Daryl Raiford also recently made the following trade(s):

  • On Friday, May 31st, Daryl Raiford sold 13,410 shares of Bandwidth stock. The shares were sold at an average price of $20.01, for a total transaction of $268,334.10.
  • On Wednesday, May 29th, Daryl Raiford sold 805 shares of Bandwidth stock. The shares were sold at an average price of $20.40, for a total transaction of $16,422.00.

Bandwidth Stock Performance

Shares of BAND stock opened at $19.58 on Friday. The company has a market cap of $528.82 million, a price-to-earnings ratio of -17.48 and a beta of 1.49. Bandwidth Inc. has a 52 week low of $9.34 and a 52 week high of $25.02. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 1.41. The firm has a 50 day moving average of $19.52 and a 200-day moving average of $16.37.

Bandwidth (NASDAQ:BANDGet Free Report) last issued its earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). Bandwidth had a negative return on equity of 2.49% and a negative net margin of 4.60%. On average, equities analysts forecast that Bandwidth Inc. will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On Bandwidth

A number of large investors have recently modified their holdings of the company. Bayesian Capital Management LP bought a new position in shares of Bandwidth in the 1st quarter worth $187,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Bandwidth by 10.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,713 shares of the company’s stock worth $269,000 after purchasing an additional 1,334 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Bandwidth in the 1st quarter worth $235,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Bandwidth by 31.6% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,355 shares of the company’s stock worth $43,000 after purchasing an additional 565 shares in the last quarter. Finally, Resurgent Financial Advisors LLC lifted its holdings in shares of Bandwidth by 4.6% in the 1st quarter. Resurgent Financial Advisors LLC now owns 11,840 shares of the company’s stock worth $216,000 after purchasing an additional 520 shares in the last quarter. 68.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BAND has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research report on Friday, May 10th. Robert W. Baird increased their target price on shares of Bandwidth from $21.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. KeyCorp increased their target price on shares of Bandwidth from $21.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. JMP Securities increased their target price on shares of Bandwidth from $32.00 to $36.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 8th. Finally, Barclays raised their price objective on shares of Bandwidth from $22.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $25.38.

Read Our Latest Analysis on BAND

Bandwidth Company Profile

(Get Free Report)

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.

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