Squarepoint Ops LLC Takes Position in Bandwidth Inc. (NASDAQ:BAND)

Squarepoint Ops LLC bought a new stake in Bandwidth Inc. (NASDAQ:BAND) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 65,915 shares of the company’s stock, valued at approximately $1,113,000. Squarepoint Ops LLC owned about 0.24% of Bandwidth at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. G2 Investment Partners Management LLC acquired a new position in Bandwidth in the 4th quarter valued at $4,079,000. Palogic Value Management L.P. boosted its holdings in shares of Bandwidth by 17.0% in the fourth quarter. Palogic Value Management L.P. now owns 300,000 shares of the company’s stock valued at $4,341,000 after acquiring an additional 43,675 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Bandwidth during the first quarter worth about $364,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Bandwidth by 100.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,132 shares of the company’s stock worth $386,000 after purchasing an additional 10,571 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Bandwidth by 84.4% in the first quarter. BNP Paribas Financial Markets now owns 13,690 shares of the company’s stock valued at $250,000 after purchasing an additional 6,266 shares during the period. Institutional investors and hedge funds own 68.53% of the company’s stock.

Bandwidth Trading Up 3.8 %

Bandwidth stock opened at $17.77 on Friday. Bandwidth Inc. has a 1 year low of $9.34 and a 1 year high of $25.02. The firm’s 50-day moving average is $17.10 and its 200-day moving average is $18.26. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market cap of $479.93 million, a P/E ratio of -15.87 and a beta of 1.51.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. The business had revenue of $174.00 million during the quarter, compared to the consensus estimate of $173.18 million. Bandwidth had a negative return on equity of 1.89% and a negative net margin of 3.21%. The business’s revenue was up 19.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.09) earnings per share. On average, equities analysts expect that Bandwidth Inc. will post 0.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BAND shares. Robert W. Baird dropped their target price on Bandwidth from $25.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Barclays cut their price objective on Bandwidth from $28.00 to $25.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. JMP Securities restated a “market outperform” rating and set a $36.00 target price on shares of Bandwidth in a research report on Tuesday, August 27th. Morgan Stanley downgraded shares of Bandwidth from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $18.00 to $15.00 in a report on Friday, June 14th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $25.71.

Insider Transactions at Bandwidth

In other news, CFO Daryl Raiford sold 4,350 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $16.97, for a total transaction of $73,819.50. Following the completion of the sale, the chief financial officer now owns 71,546 shares in the company, valued at approximately $1,214,135.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold 10,294 shares of company stock valued at $185,855 in the last three months. Corporate insiders own 6.20% 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.