Daryl Raiford Sells 17,026 Shares of Bandwidth (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 17,026 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $15.47, for a total value of $263,392.22. Following the completion of the sale, the chief financial officer directly owned 52,745 shares of the company’s stock, valued at $815,965.15. The trade was a 24.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Bandwidth Stock Up 0.7%

BAND stock opened at $15.04 on Wednesday. The stock’s 50 day simple moving average is $14.25 and its 200 day simple moving average is $15.05. The company has a market cap of $472.06 million, a P/E ratio of -34.98 and a beta of 2.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.42. Bandwidth Inc. has a fifty-two week low of $11.33 and a fifty-two week high of $18.63.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Bandwidth in a report on Wednesday, January 21st. Wall Street Zen cut shares of Bandwidth from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. Finally, B. Riley Financial assumed coverage on shares of Bandwidth in a research report on Friday, January 23rd. They set a “buy” rating and a $20.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Bandwidth has a consensus rating of “Hold” and an average target price of $20.60.

Institutional Investors Weigh In On Bandwidth

Institutional investors and hedge funds have recently bought and sold shares of the stock. Deutsche Bank AG grew its stake in shares of Bandwidth by 6.0% in the 4th quarter. Deutsche Bank AG now owns 18,343 shares of the company’s stock worth $283,000 after acquiring an additional 1,043 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Bandwidth by 6.1% during the third quarter. Principal Financial Group Inc. now owns 19,383 shares of the company’s stock worth $323,000 after purchasing an additional 1,114 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in Bandwidth by 2.1% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 53,681 shares of the company’s stock worth $895,000 after purchasing an additional 1,129 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in Bandwidth by 30.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,509 shares of the company’s stock worth $125,000 after purchasing an additional 1,748 shares in the last quarter. Finally, Bailard Inc. increased its stake in Bandwidth by 11.0% in the 3rd quarter. Bailard Inc. now owns 19,200 shares of the company’s stock valued at $320,000 after buying an additional 1,900 shares during the last quarter. 68.53% of the stock is owned by hedge funds and other institutional investors.

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.