Bandwidth Inc. (NASDAQ:BAND) Holdings Reduced by Franklin Resources Inc.

Franklin Resources Inc. lessened its holdings in shares of Bandwidth Inc. (NASDAQ:BAND) by 40.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,769 shares of the company’s stock after selling 31,712 shares during the period. Franklin Resources Inc. owned 0.17% of Bandwidth worth $779,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp boosted its position in Bandwidth by 3.7% during the 3rd quarter. State Street Corp now owns 655,768 shares of the company’s stock worth $11,482,000 after acquiring an additional 23,352 shares during the period. Barclays PLC raised its stake in shares of Bandwidth by 9.1% during the third quarter. Barclays PLC now owns 224,497 shares of the company’s stock valued at $3,931,000 after purchasing an additional 18,778 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Bandwidth by 3.6% in the third quarter. Geode Capital Management LLC now owns 568,667 shares of the company’s stock worth $9,960,000 after purchasing an additional 19,832 shares during the period. SG Americas Securities LLC grew its position in Bandwidth by 14.5% in the 4th quarter. SG Americas Securities LLC now owns 11,102 shares of the company’s stock valued at $189,000 after buying an additional 1,407 shares in the last quarter. Finally, Parcion Private Wealth LLC increased its stake in Bandwidth by 1.7% during the 4th quarter. Parcion Private Wealth LLC now owns 232,137 shares of the company’s stock valued at $3,951,000 after buying an additional 3,927 shares during the period. 68.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BAND shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research note on Friday, February 21st. William Blair restated an “outperform” rating on shares of Bandwidth in a research report on Friday, February 21st. Barclays dropped their price target on Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, Morgan Stanley reduced their price objective on Bandwidth from $18.00 to $11.00 and set an “underweight” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.17.

Insider Activity

In other news, General Counsel Richard Brandon Asbill sold 5,629 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $15.70, for a total value of $88,375.30. Following the sale, the general counsel now directly owns 57,475 shares of the company’s stock, valued at approximately $902,357.50. This represents a 8.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daryl Raiford sold 24,253 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $15.58, for a total transaction of $377,861.74. Following the completion of the transaction, the chief financial officer now directly owns 113,795 shares in the company, valued at approximately $1,772,926.10. This represents a 17.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,220 shares of company stock valued at $1,000,954 in the last quarter. Company insiders own 6.20% of the company’s stock.

Bandwidth Stock Performance

Bandwidth stock opened at $12.14 on Thursday. Bandwidth Inc. has a 12-month low of $11.47 and a 12-month high of $25.02. The stock has a 50-day simple moving average of $15.16 and a 200 day simple moving average of $17.16. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $347.50 million, a price-to-earnings ratio of -21.30 and a beta of 1.89.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.36). The firm had revenue of $209.97 million during the quarter, compared to the consensus estimate of $203.68 million. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. During the same quarter in the previous year, the business posted $0.38 earnings per share. On average, research analysts anticipate that Bandwidth Inc. will post 0.22 earnings per share for the current fiscal year.

Bandwidth Profile

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.