Assenagon Asset Management S.A. Has $3.36 Million Stock Position in Bandwidth Inc. (NASDAQ:BAND)

Assenagon Asset Management S.A. lessened its position in shares of Bandwidth Inc. (NASDAQ:BAND) by 42.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 197,658 shares of the company’s stock after selling 144,263 shares during the quarter. Assenagon Asset Management S.A. owned about 0.72% of Bandwidth worth $3,364,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC raised its holdings in Bandwidth by 3.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 21,221 shares of the company’s stock worth $372,000 after purchasing an additional 740 shares during the last quarter. nVerses Capital LLC grew its position in shares of Bandwidth by 80.0% during the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $32,000 after buying an additional 800 shares during the period. Quarry LP raised its stake in shares of Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after buying an additional 1,245 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Bandwidth by 2.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 50,374 shares of the company’s stock valued at $850,000 after buying an additional 1,342 shares during the period. Finally, Parcion Private Wealth LLC boosted its stake in Bandwidth by 1.8% in the third quarter. Parcion Private Wealth LLC now owns 228,210 shares of the company’s stock valued at $3,996,000 after acquiring an additional 3,927 shares during the last quarter. Institutional investors own 68.53% of the company’s stock.

Bandwidth Stock Performance

BAND stock opened at $16.02 on Wednesday. Bandwidth Inc. has a 1-year low of $11.90 and a 1-year high of $25.02. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.83. The firm has a market cap of $440.71 million, a PE ratio of -17.23 and a beta of 1.52. The business’s 50-day moving average price is $18.42 and its two-hundred day moving average price is $18.09.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.11. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The business had revenue of $193.90 million for the quarter, compared to analysts’ expectations of $182.05 million. During the same quarter in the previous year, the business posted $0.03 EPS. Bandwidth’s revenue for the quarter was up 27.6% on a year-over-year basis. As a group, research analysts forecast that Bandwidth Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Daryl Raiford sold 10,389 shares of Bandwidth stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.26, for a total value of $220,870.14. Following the sale, the chief financial officer now directly owns 87,220 shares in the company, valued at $1,854,297.20. This trade represents a 10.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David A. Morken sold 2,777 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $17.39, for a total transaction of $48,292.03. Following the transaction, the chief executive officer now owns 109,783 shares of the company’s stock, valued at $1,909,126.37. The trade was a 2.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,023 shares of company stock worth $1,057,162 over the last ninety days. Company insiders own 6.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on BAND. Robert W. Baird upped their target price on shares of Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Morgan Stanley upped their price objective on Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a report on Wednesday, December 18th. Finally, Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $28.83.

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.