Two Sigma Investments LP Purchases 8,813 Shares of Bandwidth Inc. (NASDAQ:BAND)

Two Sigma Investments LP boosted its holdings in shares of Bandwidth Inc. (NASDAQ:BAND) by 8.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,338 shares of the company’s stock after acquiring an additional 8,813 shares during the period. Two Sigma Investments LP owned about 0.39% of Bandwidth worth $1,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Bandwidth by 61.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 524,586 shares of the company’s stock worth $8,928,000 after purchasing an additional 200,387 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Bandwidth by 88.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 285,559 shares of the company’s stock valued at $4,860,000 after buying an additional 133,715 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Bandwidth by 9.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company’s stock valued at $21,260,000 after buying an additional 112,269 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Bandwidth by 213.5% in the 4th quarter. Millennium Management LLC now owns 136,442 shares of the company’s stock valued at $2,322,000 after buying an additional 92,915 shares in the last quarter. Finally, Segall Bryant & Hamill LLC boosted its holdings in shares of Bandwidth by 260.3% in the 4th quarter. Segall Bryant & Hamill LLC now owns 122,087 shares of the company’s stock valued at $2,078,000 after buying an additional 88,198 shares in the last quarter. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Wall Street Analysts Forecast Growth

BAND has been the subject of several analyst reports. Morgan Stanley decreased their price objective on Bandwidth from $18.00 to $11.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th. Needham & Company LLC started coverage on Bandwidth in a research note on Wednesday, May 7th. They issued a “buy” rating and a $20.00 price target for the company. Robert W. Baird dropped their price target on Bandwidth from $20.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $36.00 price objective on shares of Bandwidth in a research report on Thursday, May 15th. Finally, William Blair reiterated an “outperform” rating on shares of Bandwidth in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.80.

Bandwidth Stock Up 2.7%

Shares of NASDAQ BAND opened at $14.40 on Tuesday. Bandwidth Inc. has a 1 year low of $11.33 and a 1 year high of $23.90. The company has a market capitalization of $428.59 million, a P/E ratio of -25.26 and a beta of 1.88. The company has a 50 day simple moving average of $13.14 and a 200-day simple moving average of $15.96. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.34 and a quick ratio of 1.34.

Bandwidth (NASDAQ:BAND) last posted its earnings results on Wednesday, May 7th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.07. The firm had revenue of $174.24 million during the quarter, compared to the consensus estimate of $168.96 million. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 EPS. On average, equities research analysts predict that Bandwidth Inc. will post 0.22 earnings per share for the current year.

Insider Buying and Selling at Bandwidth

In other news, General Counsel Richard Brandon Asbill sold 9,878 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $15.24, for a total transaction of $150,540.72. Following the sale, the general counsel now owns 42,475 shares of the company’s stock, valued at approximately $647,319. This trade represents a 18.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rebecca Bottorff sold 2,333 shares of the company’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $14.47, for a total value of $33,758.51. Following the completion of the transaction, the insider now directly owns 60,220 shares of the company’s stock, valued at $871,383.40. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,081 shares of company stock worth $384,998 over the last ninety days. Corporate insiders own 6.50% of the company’s stock.

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.