Bandwidth Inc (NASDAQ:BAND) insider John C. Murdock sold 18,077 shares of the company’s stock in a transaction dated Wednesday, July 11th. The stock was sold at an average price of $35.65, for a total transaction of $644,445.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
BAND stock traded up $0.36 on Thursday, hitting $35.76. 117,027 shares of the company’s stock traded hands, compared to its average volume of 120,124. Bandwidth Inc has a 1-year low of $18.05 and a 1-year high of $40.83. The firm has a market cap of $638.98 million and a PE ratio of 73.27.
Bandwidth (NASDAQ:BAND) last released its earnings results on Wednesday, May 2nd. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The business had revenue of $53.00 million for the quarter, compared to analyst estimates of $47.19 million. The firm’s revenue for the quarter was up 33.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.22 earnings per share. equities analysts forecast that Bandwidth Inc will post -0.14 earnings per share for the current year.
BAND has been the subject of several recent analyst reports. Canaccord Genuity upped their target price on shares of Bandwidth from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, May 3rd. Morgan Stanley increased their price objective on shares of Bandwidth from $28.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, May 3rd. KeyCorp reiterated a “buy” rating on shares of Bandwidth in a report on Wednesday, May 2nd. Dougherty & Co set a $40.00 price objective on shares of Bandwidth and gave the company a “buy” rating in a report on Tuesday, April 24th. Finally, ValuEngine upgraded shares of Bandwidth from a “sell” rating to a “hold” rating in a report on Monday, April 2nd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $38.00.
Several large investors have recently modified their holdings of the stock. KAMES CAPITAL plc purchased a new stake in shares of Bandwidth in the 2nd quarter valued at approximately $6,790,000. EAM Global Investors LLC purchased a new stake in shares of Bandwidth in the 1st quarter valued at approximately $1,190,000. LPL Financial LLC purchased a new stake in shares of Bandwidth in the 1st quarter valued at approximately $1,047,000. Barclays PLC purchased a new stake in shares of Bandwidth in the 1st quarter valued at approximately $262,000. Finally, Archon Capital Management LLC purchased a new stake in shares of Bandwidth in the 1st quarter valued at approximately $531,000. Institutional investors and hedge funds own 21.03% of the company’s stock.
Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provides in the United States. The company operates through two segments, CPaaS and Other. Its platform enables enterprises to create, scale, and operate voice or text communications services across mobile application or connected device.
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