Quantbot Technologies LP Decreases Position in Bandwidth Inc. (NASDAQ:BAND)

Quantbot Technologies LP lowered its stake in shares of Bandwidth Inc. (NASDAQ:BAND) by 31.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,413 shares of the company’s stock after selling 3,836 shares during the quarter. Quantbot Technologies LP’s holdings in Bandwidth were worth $143,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of BAND. Quarry LP increased its holdings in Bandwidth by 157.6% during the 3rd quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after purchasing an additional 1,245 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Bandwidth during the fourth quarter worth approximately $69,000. one8zero8 LLC acquired a new stake in Bandwidth in the fourth quarter valued at approximately $170,000. SG Americas Securities LLC lifted its stake in Bandwidth by 14.5% in the fourth quarter. SG Americas Securities LLC now owns 11,102 shares of the company’s stock worth $189,000 after acquiring an additional 1,407 shares during the last quarter. Finally, Centiva Capital LP acquired a new position in Bandwidth during the 3rd quarter worth approximately $191,000. 68.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bandwidth

In other news, insider Devin M. Krupka sold 3,770 shares of the business’s 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 transaction, the insider now owns 19,188 shares of the company’s stock, valued at approximately $301,251.60. The trade was a 16.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $48,292.03. Following the sale, the chief executive officer now directly owns 109,783 shares of the company’s stock, valued at approximately $1,909,126.37. This represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,510 shares of company stock worth $1,109,806. 6.20% of the stock is owned by company insiders.

Bandwidth Stock Down 6.0 %

Shares of NASDAQ BAND opened at $13.37 on Monday. The business has a 50-day moving average price of $16.49 and a 200 day moving average price of $17.61. The stock has a market cap of $382.70 million, a PE ratio of -23.46 and a beta of 1.57. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.90. Bandwidth Inc. has a 52-week low of $13.31 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 analysts’ consensus estimates of $0.38 by ($0.36). Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. The business had revenue of $209.97 million for the quarter, compared to analysts’ expectations of $203.68 million. During the same quarter last year, the business posted $0.38 earnings per share. Equities research analysts forecast that Bandwidth Inc. will post 0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a report on Friday, February 21st. William Blair reaffirmed an “outperform” rating on shares of Bandwidth in a report on Friday, February 21st. Barclays dropped their price objective on Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, Morgan Stanley boosted their target price on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note 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 given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.33.

Bandwidth 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.