Bandwidth Inc. (NASDAQ:BAND) Receives Average Rating of “Hold” from Brokerages

Shares of Bandwidth Inc. (NASDAQ:BAND) have been assigned an average rating of “Hold” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $21.00.

A number of brokerages have recently commented on BAND. Wedbush reaffirmed an “outperform” rating on shares of Bandwidth in a research report on Wednesday, September 17th. Wall Street Zen cut Bandwidth from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. Robert W. Baird set a $16.00 price objective on shares of Bandwidth in a research note on Friday, October 31st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Bandwidth in a research report on Wednesday, October 8th.

Insider Buying and Selling

In related news, COO Devesh Agarwal sold 4,202 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $14.06, for a total value of $59,080.12. Following the transaction, the chief operating officer directly owned 77,482 shares of the company’s stock, valued at approximately $1,089,396.92. This trade represents a 5.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Rebecca Bottorff sold 5,973 shares of Bandwidth stock in a transaction on Monday, December 1st. The shares were sold at an average price of $14.06, for a total value of $83,980.38. Following the completion of the transaction, the insider owned 53,352 shares in the company, valued at $750,129.12. The trade was a 10.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 63,463 shares of company stock worth $895,210 over the last 90 days. Company insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Bandwidth

Large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Bandwidth by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,988,533 shares of the company’s stock valued at $33,149,000 after purchasing an additional 67,428 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Bandwidth by 2.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,464,976 shares of the company’s stock valued at $24,423,000 after buying an additional 30,248 shares during the period. Portolan Capital Management LLC raised its holdings in Bandwidth by 115.8% in the third quarter. Portolan Capital Management LLC now owns 745,802 shares of the company’s stock valued at $12,433,000 after buying an additional 400,231 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Bandwidth by 11.3% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 680,945 shares of the company’s stock valued at $10,827,000 after buying an additional 69,065 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Bandwidth by 8.9% during the second quarter. Geode Capital Management LLC now owns 648,763 shares of the company’s stock worth $10,318,000 after buying an additional 52,762 shares during the period. 68.53% of the stock is currently owned by hedge funds and other institutional investors.

Bandwidth Stock Performance

Shares of NASDAQ BAND opened at $14.87 on Friday. Bandwidth has a 12 month low of $11.33 and a 12 month high of $19.88. The company has a 50-day simple moving average of $15.02 and a 200-day simple moving average of $15.19. The company has a market cap of $453.68 million, a PE ratio of -38.12 and a beta of 2.11. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.39 and a quick ratio of 1.39.

About Bandwidth

Bandwidth Inc operates a cloud-based communications platform that provides voice, messaging and emergency services APIs for enterprises and developers. Through its proprietary network and software-as-a-service model, the company enables customers to integrate programmable voice calls, text messaging and 9-1-1 routing into their applications. Bandwidth’s solutions aim to reduce complexity and improve reliability in mission-critical communications, serving industries such as healthcare, financial services, on-demand mobility and customer engagement.

Founded in 1999 in Raleigh, North Carolina by co-founders David Morken and Henry Kaestner, Bandwidth initially focused on voice-over-IP infrastructure before evolving into a full communications API provider.