Bandwidth Inc (NASDAQ:BAND) CEO David A. Morken sold 28,592 shares of the stock in a transaction that occurred on Thursday, January 10th. The stock was sold at an average price of $41.82, for a total value of $1,195,717.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Bandwidth stock traded down $0.05 during mid-day trading on Friday, reaching $41.61. 66,000 shares of the company were exchanged, compared to its average volume of 145,938. Bandwidth Inc has a twelve month low of $19.45 and a twelve month high of $57.50. The stock has a market capitalization of $811.84 million, a price-to-earnings ratio of 84.92 and a beta of 0.55.
Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Tuesday, October 30th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.15. The business had revenue of $50.50 million during the quarter, compared to analysts’ expectations of $47.94 million. Bandwidth had a return on equity of 4.99% and a net margin of 9.58%. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same period last year, the firm earned $0.15 EPS. As a group, equities analysts predict that Bandwidth Inc will post 0.09 EPS for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of BAND. Citadel Advisors LLC acquired a new stake in shares of Bandwidth in the 2nd quarter valued at approximately $213,000. Man Group plc acquired a new stake in shares of Bandwidth in the 3rd quarter valued at approximately $348,000. Jane Street Group LLC acquired a new stake in shares of Bandwidth in the 2nd quarter valued at approximately $381,000. Virtu Financial LLC acquired a new stake in shares of Bandwidth in the 3rd quarter valued at approximately $512,000. Finally, Northern Trust Corp lifted its holdings in shares of Bandwidth by 85.3% in the 2nd quarter. Northern Trust Corp now owns 14,946 shares of the company’s stock valued at $568,000 after buying an additional 6,882 shares during the period. 39.35% of the stock is owned by institutional investors and hedge funds.
WARNING: This article was originally reported by WKRB News and is owned by of WKRB News. If you are accessing this article on another publication, it was illegally copied and republished in violation of US & international copyright & trademark law. The original version of this article can be viewed at https://www.wkrb13.com/2019/01/12/david-a-morken-sells-28592-shares-of-bandwidth-inc-band-stock.html.
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.
Featured Article: Risk Tolerance
Receive News & Ratings for Bandwidth Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bandwidth and related companies with MarketBeat.com's FREE daily email newsletter.