Assenagon Asset Management S.A. Has $5.47 Million Holdings in Bandwidth Inc. $BAND

Assenagon Asset Management S.A. increased its stake in Bandwidth Inc. (NASDAQ:BAND) by 71.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 327,942 shares of the company’s stock after acquiring an additional 136,624 shares during the quarter. Assenagon Asset Management S.A. owned 1.09% of Bandwidth worth $5,467,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BAND. Rhumbline Advisers lifted its stake in shares of Bandwidth by 3.7% in the first 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 shares of Bandwidth by 10.0% in the 1st quarter. AlphaQuest LLC now owns 19,451 shares of the company’s stock worth $255,000 after buying an additional 1,767 shares during the last quarter. Invesco Ltd. boosted its position in Bandwidth by 4.5% in the first quarter. Invesco Ltd. now owns 53,835 shares of the company’s stock worth $705,000 after purchasing an additional 2,301 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Bandwidth by 183.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,776 shares of the company’s stock valued at $60,000 after purchasing an additional 2,445 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Bandwidth by 41.4% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,563 shares of the company’s stock worth $136,000 after buying an additional 2,507 shares during the last quarter. Institutional investors and hedge funds own 68.53% of the company’s stock.

Bandwidth Stock Performance

Shares of NASDAQ BAND opened at $14.87 on Monday. The stock has a market cap of $453.71 million, a price-to-earnings ratio of -38.12 and a beta of 2.11. The stock’s 50-day moving average is $15.02 and its 200 day moving average is $15.20. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.63. Bandwidth Inc. has a 1-year low of $11.33 and a 1-year high of $19.88.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Bandwidth from a “buy” rating to a “hold” rating in a research note on Sunday, December 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bandwidth in a research note on Wednesday, October 8th. Wedbush reaffirmed an “outperform” rating on shares of Bandwidth in a report on Wednesday, September 17th. Finally, Robert W. Baird set a $16.00 price target on Bandwidth in a research report on Friday, October 31st. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bandwidth presently has a consensus rating of “Hold” and an average price target of $21.00.

Insider Activity

In other news, insider Rebecca Bottorff sold 5,973 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider owned 53,352 shares in the company, valued at approximately $750,129.12. This trade represents a 10.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Richard Brandon Asbill sold 4,460 shares of Bandwidth stock in a transaction on Monday, December 1st. The stock was sold at an average price of $14.06, for a total transaction of $62,707.60. Following the completion of the transaction, the general counsel directly owned 62,465 shares in the company, valued at approximately $878,257.90. The trade was a 6.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 63,463 shares of company stock valued at $895,210. Company insiders own 6.50% of the company’s stock.

Bandwidth Company Profile

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.