Bandwidth Inc. $BAND is Archon Capital Management LLC’s 10th Largest Position

Archon Capital Management LLC raised its stake in Bandwidth Inc. (NASDAQ:BAND) by 48.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 291,700 shares of the company’s stock after purchasing an additional 95,000 shares during the period. Bandwidth accounts for about 3.8% of Archon Capital Management LLC’s holdings, making the stock its 10th biggest position. Archon Capital Management LLC owned 0.97% of Bandwidth worth $4,638,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BAND. Rhumbline Advisers boosted its holdings in shares of Bandwidth by 3.7% in the 1st quarter. Rhumbline Advisers now owns 35,603 shares of the company’s stock valued at $466,000 after buying an additional 1,255 shares in the last quarter. AlphaQuest LLC boosted its stake in Bandwidth by 10.0% in the first quarter. AlphaQuest LLC now owns 19,451 shares of the company’s stock valued at $255,000 after acquiring an additional 1,767 shares in the last quarter. Invesco Ltd. boosted its stake in Bandwidth by 4.5% in the first quarter. Invesco Ltd. now owns 53,835 shares of the company’s stock valued at $705,000 after acquiring an additional 2,301 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Bandwidth by 41.4% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,563 shares of the company’s stock worth $136,000 after purchasing an additional 2,507 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of Bandwidth by 1.7% during the second quarter. Bank of Montreal Can now owns 156,087 shares of the company’s stock worth $2,482,000 after purchasing an additional 2,554 shares in the last quarter. Institutional investors and hedge funds own 68.53% of the company’s stock.

Insiders Place Their Bets

In related news, CEO David A. Morken sold 12,584 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $14.06, for a total value of $176,931.04. Following the completion of the sale, the chief executive officer owned 29,494 shares in the company, valued at $414,685.64. This trade represents a 29.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Daryl Raiford sold 14,143 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $15.47, for a total transaction of $218,792.21. Following the sale, the chief financial officer directly owned 90,395 shares in the company, valued at approximately $1,398,410.65. This represents a 13.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 91,397 shares of company stock worth $1,347,052. Insiders own 6.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on BAND shares. Wedbush reissued an “outperform” rating on shares of Bandwidth in a research report on Wednesday, September 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bandwidth in a research note on Wednesday, October 8th. Robert W. Baird set a $16.00 target price on shares of Bandwidth in a research report on Friday, October 31st. Finally, Wall Street Zen cut shares of Bandwidth from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Bandwidth presently has a consensus rating of “Hold” and an average target price of $21.00.

Bandwidth Trading Down 0.1%

NASDAQ:BAND opened at $14.71 on Friday. Bandwidth Inc. has a 1 year low of $11.33 and a 1 year high of $21.08. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a fifty day moving average price of $15.29 and a two-hundred day moving average price of $15.12. The stock has a market capitalization of $448.95 million, a price-to-earnings ratio of -37.72 and a beta of 2.11.

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.