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

Shares of Bandwidth Inc. (NASDAQ:BAND) have received an average rating of “Hold” from the nine analysts that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $20.8333.

A number of equities analysts have issued reports on the stock. Wall Street Zen cut shares of Bandwidth from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. B. Riley Financial began coverage on Bandwidth in a research note on Friday, January 23rd. They issued a “buy” rating and a $20.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bandwidth in a research report on Wednesday, January 21st. Finally, Robert W. Baird set a $16.00 price objective on Bandwidth in a report on Friday, October 31st.

Insider Activity at Bandwidth

In other Bandwidth news, COO Devesh Agarwal sold 4,202 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $14.06, for a total value of $59,080.12. Following the completion of the transaction, the chief operating officer directly owned 77,482 shares in the company, valued at approximately $1,089,396.92. This represents a 5.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Richard Brandon Asbill sold 4,460 shares of the firm’s stock in a transaction dated 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 sale, the general counsel directly owned 62,465 shares of the company’s stock, valued at approximately $878,257.90. This represents a 6.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 63,463 shares of company stock valued at $895,210 over the last 90 days. Company insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Bandwidth

Hedge funds have recently bought and sold shares of the business. Nano Cap New Millennium Growth Fund L P bought a new position in shares of Bandwidth during the fourth quarter valued at approximately $1,622,000. UBS Group AG grew its stake in shares of Bandwidth by 189.2% in the 4th quarter. UBS Group AG now owns 205,300 shares of the company’s stock worth $3,172,000 after buying an additional 134,309 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Bandwidth by 35.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 10,143 shares of the company’s stock worth $157,000 after buying an additional 2,634 shares during the last quarter. Numerai GP LLC increased its position in Bandwidth by 62.3% during the 3rd quarter. Numerai GP LLC now owns 20,430 shares of the company’s stock valued at $341,000 after buying an additional 7,839 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake in Bandwidth by 2.1% during the third quarter. Mercer Global Advisors Inc. ADV now owns 53,681 shares of the company’s stock valued at $895,000 after buying an additional 1,129 shares during the last quarter. Institutional investors own 68.53% of the company’s stock.

Bandwidth Stock Up 2.1%

Shares of Bandwidth stock opened at $13.43 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.39 and a current ratio of 1.39. Bandwidth has a 52-week low of $11.33 and a 52-week high of $19.88. The company’s 50 day moving average price is $14.43 and its 200-day moving average price is $14.98. The stock has a market capitalization of $409.88 million, a price-to-earnings ratio of -34.44 and a beta of 2.15.

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.