Bandwidth (NASDAQ:BAND) Upgraded at Wall Street Zen

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

Other equities research analysts have also recently issued research reports about the company. Wedbush reiterated an “outperform” rating on shares of Bandwidth in a research note on Wednesday, September 17th. Robert W. Baird set a $16.00 target price on shares of Bandwidth in a report on Friday, October 31st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Bandwidth in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.00.

Bandwidth Stock Up 1.0%

Bandwidth stock opened at $14.86 on Friday. Bandwidth has a fifty-two week low of $11.33 and a fifty-two week high of $21.08. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.39 and a current ratio of 1.39. The company has a market capitalization of $453.53 million, a P/E ratio of -38.10 and a beta of 2.11. The stock has a 50-day simple moving average of $15.24 and a 200-day simple moving average of $15.13.

Insider Buying and Selling

In other Bandwidth news, insider Devin M. Krupka sold 7,166 shares of Bandwidth stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $18.00, for a total value of $128,988.00. Following the sale, the insider owned 19,192 shares of the company’s stock, valued at approximately $345,456. The trade was a 27.19% 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, CFO Daryl Raiford sold 14,143 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $15.47, for a total value of $218,792.21. Following the transaction, the chief financial officer owned 90,395 shares in the company, valued at $1,398,410.65. The trade was a 13.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 91,397 shares of company stock worth $1,347,052 in the last ninety days. Insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Bandwidth

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its holdings in shares of Bandwidth by 183.7% in the second 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 in the last quarter. State of Wyoming purchased a new stake in Bandwidth in the 3rd quarter valued at approximately $71,000. US Bancorp DE grew its holdings in Bandwidth by 11,281.3% during the 1st quarter. US Bancorp DE now owns 5,463 shares of the company’s stock valued at $72,000 after buying an additional 5,415 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Bandwidth during the 2nd quarter valued at $85,000. Finally, Harbor Capital Advisors Inc. increased its position in Bandwidth by 30.3% during the third quarter. Harbor Capital Advisors Inc. now owns 7,509 shares of the company’s stock worth $125,000 after buying an additional 1,748 shares in the last quarter. Institutional investors and hedge funds own 68.53% of the company’s stock.

Bandwidth Company Profile

Bandwidth is a leading enterprise cloud communications company. Companies like Cisco, Google, Microsoft, RingCentral, Uber, and Zoom use Bandwidth’s APIs to easily embed voice, messaging, and emergency services into software and applications. Bandwidth is the first and only CPaaS provider offering a robust selection of communications APIs built around their own IP voice network.