Bandwidth (NASDAQ:BAND) Upgraded at Wall Street Zen

Bandwidth (NASDAQ:BAND) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Other equities analysts also recently issued research reports about the stock. B. Riley Financial assumed coverage on shares of Bandwidth in a research note on Friday, January 23rd. They set a “buy” rating and a $20.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bandwidth in a research note on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.60.

Bandwidth Stock Performance

Shares of BAND opened at $16.14 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market capitalization of $506.63 million, a price-to-earnings ratio of -37.53 and a beta of 2.03. The company’s 50 day simple moving average is $15.38 and its 200 day simple moving average is $15.15. Bandwidth has a 1 year low of $11.33 and a 1 year high of $18.65.

Insiders Place Their Bets

In other Bandwidth news, CFO Daryl E. Raiford sold 17,026 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $15.47, for a total transaction of $263,392.22. Following the transaction, the chief financial officer owned 52,745 shares of the company’s stock, valued at $815,965.15. This trade represents a 24.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bandwidth

Large investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. raised its stake in shares of Bandwidth by 71.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 327,942 shares of the company’s stock valued at $5,467,000 after acquiring an additional 136,624 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Bandwidth in the 3rd quarter valued at $1,100,000. Portolan Capital Management LLC raised its stake in shares of Bandwidth by 115.8% in the 3rd quarter. Portolan Capital Management LLC now owns 745,802 shares of the company’s stock valued at $12,433,000 after acquiring an additional 400,231 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Bandwidth in the 3rd quarter valued at $271,000. Finally, Quantbot Technologies LP purchased a new position in shares of Bandwidth in the 2nd quarter valued at $128,000. Hedge funds and other institutional investors own 68.53% of the company’s stock.

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.