Bandwidth Inc. (NASDAQ:BAND) Receives Consensus Rating of “Hold” from Brokerages

Bandwidth Inc. (NASDAQ:BAND) has been given an average recommendation of “Hold” by the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $21.00.

A number of research analysts have recently commented on BAND shares. Wedbush reissued an “outperform” rating on shares of Bandwidth in a research report on Wednesday, September 17th. Robert W. Baird set a $16.00 price objective on shares of Bandwidth in a report on Friday, October 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Bandwidth in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered Bandwidth from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th.

Insider Activity at Bandwidth

In other news, insider Rebecca Bottorff sold 5,973 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $14.06, for a total transaction of $83,980.38. Following the completion of the sale, the insider owned 53,352 shares of the company’s stock, valued at approximately $750,129.12. This trade represents a 10.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David A. Morken sold 12,584 shares of Bandwidth stock in a transaction on Monday, December 1st. The stock was sold at an average price of $14.06, for a total transaction of $176,931.04. Following the completion of the sale, the chief executive officer owned 29,494 shares of the company’s stock, valued at approximately $414,685.64. This trade represents a 29.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 63,463 shares of company stock worth $895,210 over the last ninety days. Company insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BAND. CX Institutional acquired a new stake in shares of Bandwidth during the 2nd quarter valued at approximately $241,000. Nuveen LLC acquired a new position in Bandwidth in the first quarter worth $7,916,000. AQR Capital Management LLC increased its stake in Bandwidth by 303.1% during the first quarter. AQR Capital Management LLC now owns 393,907 shares of the company’s stock valued at $5,160,000 after purchasing an additional 296,199 shares during the last quarter. Rhumbline Advisers increased its stake in Bandwidth by 3.7% during the first quarter. Rhumbline Advisers now owns 35,603 shares of the company’s stock valued at $466,000 after purchasing an additional 1,255 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its holdings in shares of Bandwidth by 33.5% during the second quarter. Campbell & CO Investment Adviser LLC now owns 83,388 shares of the company’s stock worth $1,326,000 after purchasing an additional 20,945 shares during the period. 68.53% of the stock is owned by institutional investors and hedge funds.

Bandwidth Stock Performance

Bandwidth stock opened at $14.87 on Friday. The firm has a market capitalization of $453.68 million, a PE ratio of -38.12 and a beta of 2.11. Bandwidth has a one year low of $11.33 and a one year high of $19.88. The stock’s 50 day moving average price is $15.02 and its 200 day moving average price is $15.19. 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 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.