Thrivent Financial for Lutherans Has $917,000 Stock Holdings in Bandwidth Inc. (NASDAQ:BAND)

Thrivent Financial for Lutherans trimmed its position in Bandwidth Inc. (NASDAQ:BAND) by 28.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,842 shares of the company’s stock after selling 21,733 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.20% of Bandwidth worth $917,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Counterpoint Mutual Funds LLC acquired a new position in Bandwidth in the fourth quarter valued at about $384,000. one8zero8 LLC bought a new stake in shares of Bandwidth in the 4th quarter valued at about $170,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Bandwidth by 61.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 524,586 shares of the company’s stock valued at $8,928,000 after acquiring an additional 200,387 shares during the period. AlphaQuest LLC boosted its stake in Bandwidth by 162.1% during the 4th quarter. AlphaQuest LLC now owns 17,684 shares of the company’s stock worth $301,000 after acquiring an additional 10,936 shares during the last quarter. Finally, Inceptionr LLC bought a new position in shares of Bandwidth during the fourth quarter worth $202,000. 68.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Devin M. Krupka sold 3,770 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $15.70, for a total value of $59,189.00. Following the completion of the sale, the insider now directly owns 19,188 shares of the company’s stock, valued at $301,251.60. This represents a 16.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Daryl Raiford sold 24,253 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $15.58, for a total value of $377,861.74. Following the completion of the transaction, the chief financial officer now owns 113,795 shares in the company, valued at $1,772,926.10. This represents a 17.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,510 shares of company stock worth $1,109,806. Company insiders own 6.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BAND shares. William Blair reiterated an “outperform” rating on shares of Bandwidth in a report on Friday, February 21st. Barclays decreased their price objective on Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research note on Friday, February 21st. Finally, Morgan Stanley boosted their price target on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $28.33.

Bandwidth Price Performance

BAND stock opened at $13.54 on Wednesday. The company has a market capitalization of $387.57 million, a P/E ratio of -23.75 and a beta of 1.57. The company has a fifty day moving average price of $16.43 and a 200-day moving average price of $17.60. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.34 and a current ratio of 1.34. Bandwidth Inc. has a 52-week low of $12.75 and a 52-week high of $25.02.

Bandwidth (NASDAQ:BAND) last announced its earnings results on Thursday, February 20th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.36). The company had revenue of $209.97 million for the quarter, compared to the consensus estimate of $203.68 million. Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. During the same period in the prior year, the business earned $0.38 earnings per share. As a group, equities analysts expect that Bandwidth Inc. will post 0.22 EPS for the current year.

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.