US Bancorp DE Grows Stock Holdings in Bandwidth Inc. $BAND

US Bancorp DE grew its holdings in shares of Bandwidth Inc. (NASDAQ:BAND) by 11,281.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,463 shares of the company’s stock after purchasing an additional 5,415 shares during the period. US Bancorp DE’s holdings in Bandwidth were worth $72,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BAND. Geode Capital Management LLC raised its holdings in Bandwidth by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 570,910 shares of the company’s stock worth $9,720,000 after acquiring an additional 2,243 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Bandwidth by 39.6% in the 4th quarter. Wells Fargo & Company MN now owns 14,092 shares of the company’s stock worth $240,000 after acquiring an additional 3,998 shares during the last quarter. Barclays PLC raised its holdings in Bandwidth by 2.6% in the 4th quarter. Barclays PLC now owns 230,269 shares of the company’s stock worth $3,919,000 after acquiring an additional 5,772 shares during the last quarter. Jump Financial LLC raised its holdings in Bandwidth by 43.6% in the 4th quarter. Jump Financial LLC now owns 23,688 shares of the company’s stock worth $403,000 after acquiring an additional 7,188 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Bandwidth by 9.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company’s stock worth $21,260,000 after acquiring an additional 112,269 shares during the last quarter. 68.53% of the stock is currently owned by hedge funds and other institutional investors.

Bandwidth Price Performance

Shares of BAND opened at $14.37 on Tuesday. The firm has a market cap of $433.11 million, a PE ratio of -42.26 and a beta of 1.80. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.64. The firm has a fifty day simple moving average of $14.79 and a two-hundred day simple moving average of $14.66. Bandwidth Inc. has a 1-year low of $11.33 and a 1-year high of $23.00.

Bandwidth (NASDAQ:BAND) last announced its earnings results on Tuesday, July 29th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. The business had revenue of $180.01 million during the quarter, compared to analyst estimates of $178.87 million. Bandwidth had a negative net margin of 1.32% and a positive return on equity of 1.43%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.29 EPS. On average, equities analysts anticipate that Bandwidth Inc. will post 0.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BAND. Robert W. Baird decreased their price objective on shares of Bandwidth from $20.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. JMP Securities restated a “market outperform” rating and issued a $36.00 price objective on shares of Bandwidth in a report on Thursday, May 15th. Finally, Needham & Company LLC restated a “buy” rating and issued a $20.00 price objective on shares of Bandwidth in a report on Friday, June 13th. 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.80.

Insider Buying and Selling at Bandwidth

In other news, CFO Daryl Raiford sold 1,849 shares of the company’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $15.46, for a total value of $28,585.54. Following the completion of the sale, the chief financial officer directly owned 122,548 shares in the company, valued at $1,894,592.08. This represents a 1.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Richard Brandon Asbill sold 1,914 shares of the company’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $14.47, for a total value of $27,695.58. Following the completion of the sale, the general counsel owned 47,014 shares of the company’s stock, valued at $680,292.58. This trade represents a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,728 shares of company stock worth $687,037. 6.20% of the stock is owned by corporate insiders.

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.