Northern Trust Corp Increases Stake in Bandwidth Inc. (NASDAQ:BAND)

Northern Trust Corp raised its holdings in shares of Bandwidth Inc. (NASDAQ:BAND) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 232,725 shares of the company’s stock after buying an additional 6,459 shares during the period. Northern Trust Corp owned about 0.85% of Bandwidth worth $3,961,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Covestor Ltd bought a new position in shares of Bandwidth in the fourth quarter worth approximately $25,000. New Age Alpha Advisors LLC bought a new position in shares of Bandwidth in the fourth quarter worth approximately $50,000. SBI Securities Co. Ltd. bought a new position in shares of Bandwidth in the fourth quarter worth approximately $69,000. one8zero8 LLC bought a new position in shares of Bandwidth in the fourth quarter worth approximately $170,000. Finally, SG Americas Securities LLC boosted its position in shares of Bandwidth by 14.5% in the fourth quarter. SG Americas Securities LLC now owns 11,102 shares of the company’s stock worth $189,000 after purchasing an additional 1,407 shares during the period. 68.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BAND. Robert W. Baird dropped their price target on shares of Bandwidth from $20.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. JMP Securities reiterated a “market outperform” rating and issued a $36.00 price target on shares of Bandwidth in a research report on Thursday, May 15th. Morgan Stanley dropped their target price on shares of Bandwidth from $18.00 to $11.00 and set an “underweight” rating for the company in a research report on Wednesday, April 16th. William Blair restated an “outperform” rating on shares of Bandwidth in a research report on Friday, February 21st. Finally, Needham & Company LLC started coverage on shares of Bandwidth in a research report on Wednesday, May 7th. They set a “buy” rating and a $20.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.80.

Bandwidth Trading Up 1.9%

NASDAQ BAND opened at $13.97 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $415.79 million, a price-to-earnings ratio of -24.51 and a beta of 1.88. The company’s 50-day simple moving average is $13.24 and its two-hundred day simple moving average is $16.26. Bandwidth Inc. has a one year low of $11.33 and a one year high of $23.90.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. The firm had revenue of $174.24 million during the quarter, compared to analyst estimates of $168.96 million. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. Bandwidth’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 EPS. Equities analysts forecast that Bandwidth Inc. will post 0.22 EPS for the current fiscal year.

Insider Activity

In other Bandwidth news, insider Devin M. Krupka sold 3,770 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $15.70, for a total transaction of $59,189.00. Following the completion of the transaction, the insider now directly owns 19,188 shares in the company, valued at approximately $301,251.60. This represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Daryl Raiford sold 24,253 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 113,795 shares of the company’s stock, valued at $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 have sold 63,721 shares of company stock valued at $992,965 in the last ninety days. Insiders own 6.50% of the company’s stock.

Bandwidth Company 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.