Invesco Ltd. Has $877,000 Stock Holdings in Bandwidth Inc. (NASDAQ:BAND)

Invesco Ltd. lowered its holdings in shares of Bandwidth Inc. (NASDAQ:BAND) by 4.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 51,534 shares of the company’s stock after selling 2,531 shares during the period. Invesco Ltd. owned about 0.19% of Bandwidth worth $877,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of Montreal Can grew its stake in shares of Bandwidth by 1.2% during the fourth quarter. Bank of Montreal Can now owns 159,746 shares of the company’s stock worth $2,719,000 after buying an additional 1,881 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its position in shares of Bandwidth by 1.6% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 43,366 shares of the company’s stock worth $738,000 after purchasing an additional 699 shares during the period. Wells Fargo & Company MN boosted its position in Bandwidth by 39.6% during the fourth quarter. Wells Fargo & Company MN now owns 14,092 shares of the company’s stock valued at $240,000 after acquiring an additional 3,998 shares during the last quarter. ExodusPoint Capital Management LP grew its stake in Bandwidth by 40.6% during the fourth quarter. ExodusPoint Capital Management LP now owns 51,572 shares of the company’s stock worth $878,000 after purchasing an additional 14,887 shares during the period. Finally, Trexquant Investment LP boosted its stake in Bandwidth by 317.2% during the fourth quarter. Trexquant Investment LP now owns 64,538 shares of the company’s stock worth $1,098,000 after acquiring an additional 49,068 shares in the last quarter. 68.53% of the stock is currently owned by institutional investors.

Insider Activity at Bandwidth

In related news, General Counsel Richard Brandon Asbill sold 5,629 shares of Bandwidth 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 in the company, valued at $902,357.50. This trade represents a 8.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Daryl Raiford sold 24,253 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $15.58, for a total transaction of $377,861.74. Following the completion of the sale, the chief financial officer now directly owns 113,795 shares of the company’s stock, 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. Over the last ninety days, insiders sold 63,721 shares of company stock worth $992,965. 6.20% of the stock is currently owned by insiders.

Bandwidth Stock Performance

NASDAQ BAND opened at $12.45 on Friday. Bandwidth Inc. has a twelve month low of $11.33 and a twelve month high of $25.02. The stock has a market capitalization of $356.37 million, a price-to-earnings ratio of -21.84 and a beta of 1.89. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90. The stock has a 50-day moving average of $13.71 and a 200 day moving average of $16.74.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BAND. William Blair reissued an “outperform” rating on shares of Bandwidth in a research report on Friday, February 21st. Barclays cut their target price on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Morgan Stanley cut their target price on Bandwidth from $18.00 to $11.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.17.

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.