Bandwidth Inc (NASDAQ:BAND) Director Henry R. Kaestner sold 37,500 shares of Bandwidth stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $39.27, for a total transaction of $1,472,625.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Bandwidth opened at $39.87 on Tuesday, Marketbeat Ratings reports. Bandwidth Inc has a twelve month low of $18.05 and a twelve month high of $40.83. The stock has a market cap of $698.68 million and a PE ratio of 81.37.
Get Bandwidth alerts:Bandwidth (NASDAQ:BAND) last issued its earnings results on Wednesday, May 2nd. The company reported $0.11 earnings per share 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. During the same quarter last year, the firm posted $0.22 earnings per share. Bandwidth’s revenue was up 33.8% on a year-over-year basis. analysts anticipate that Bandwidth Inc will post -0.14 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the stock. Barclays PLC bought a new position in Bandwidth during the 1st quarter valued at about $262,000. Northern Trust Corp bought a new position in Bandwidth during the 1st quarter valued at about $263,000. Wedbush Securities Inc. bought a new position in Bandwidth during the 1st quarter valued at about $269,000. Virtu Financial LLC bought a new position in Bandwidth during the 4th quarter valued at about $277,000. Finally, Archon Capital Management LLC bought a new position in Bandwidth during the 1st quarter valued at about $531,000. 21.03% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently weighed in on BAND. KeyCorp reiterated a “buy” rating on shares of Bandwidth in a research report on Wednesday, May 2nd. Robert W. Baird reiterated an “outperform” rating and set a $30.00 target price (up from $28.00) on shares of Bandwidth in a research report on Thursday, February 22nd. ValuEngine upgraded shares of Bandwidth from a “sell” rating to a “hold” rating in a research report on Monday, April 2nd. Morgan Stanley lifted their target price on shares of Bandwidth from $28.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, May 3rd. Finally, Dougherty & Co set a $40.00 target price on shares of Bandwidth and gave the company a “buy” rating in a research report on Tuesday, April 24th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $38.00.
Bandwidth Company Profile
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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