Bandwidth Inc. (NASDAQ:BAND) Given Average Recommendation of “Hold” by Analysts

Shares of Bandwidth Inc. (NASDAQ:BAND) have been assigned an average recommendation of “Hold” from the nine brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $20.8333.

Several brokerages have issued reports on BAND. Wall Street Zen cut shares of Bandwidth from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. Robert W. Baird set a $16.00 price target on shares of Bandwidth in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bandwidth in a research report on Wednesday, January 21st. Finally, B. Riley Financial began coverage on Bandwidth in a research note on Friday, January 23rd. They set a “buy” rating and a $20.00 target price on the stock.

Bandwidth Price Performance

BAND opened at $13.43 on Friday. The firm has a market cap of $409.88 million, a PE ratio of -34.44 and a beta of 2.15. The stock has a 50-day moving average price of $14.43 and a 200-day moving average price of $14.98. Bandwidth has a 1 year low of $11.33 and a 1 year high of $19.88. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.39 and a quick ratio of 1.39.

Insider Activity at Bandwidth

In other Bandwidth news, General Counsel Richard Brandon Asbill sold 4,460 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $14.06, for a total transaction of $62,707.60. Following the transaction, the general counsel owned 62,465 shares in the company, valued at approximately $878,257.90. This represents a 6.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David A. Morken sold 12,584 shares of Bandwidth stock in a transaction that occurred 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 $414,685.64. This represents a 29.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 63,463 shares of company stock valued at $895,210 over the last three months. 6.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Bandwidth

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Portolan Capital Management LLC grew its position in Bandwidth by 115.8% in the 3rd quarter. Portolan Capital Management LLC now owns 745,802 shares of the company’s stock worth $12,433,000 after purchasing an additional 400,231 shares during the period. AQR Capital Management LLC grew its holdings in shares of Bandwidth by 49.1% in the second quarter. AQR Capital Management LLC now owns 587,305 shares of the company’s stock worth $9,338,000 after acquiring an additional 193,398 shares during the period. Assenagon Asset Management S.A. increased its position in Bandwidth by 71.4% during the third 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 last quarter. Bridgeway Capital Management LLC purchased a new stake in Bandwidth during the second quarter valued at $2,166,000. Finally, UBS Group AG lifted its holdings in Bandwidth by 189.2% in the fourth quarter. UBS Group AG now owns 205,300 shares of the company’s stock valued at $3,172,000 after acquiring an additional 134,309 shares during the period. 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.