Bandwidth Inc (BAND) Director John C. Murdock Sells 13,290 Shares

Bandwidth Inc (NASDAQ:BAND) Director John C. Murdock sold 13,290 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $66.00, for a total transaction of $877,140.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shares of BAND traded up $1.13 during midday trading on Thursday, hitting $66.58. The company had a trading volume of 149,460 shares, compared to its average volume of 160,037. The company has a market capitalization of $1.29 billion, a P/E ratio of 214.77 and a beta of 0.75. Bandwidth Inc has a 52 week low of $27.75 and a 52 week high of $67.50.

Bandwidth (NASDAQ:BAND) last released its earnings results on Wednesday, February 13th. The company reported ($0.04) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.25. The company had revenue of $52.34 million during the quarter, compared to the consensus estimate of $49.37 million. Bandwidth had a net margin of 8.78% and a return on equity of 2.14%. The company’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 EPS. As a group, sell-side analysts expect that Bandwidth Inc will post -0.81 earnings per share for the current year.

Several equities research analysts have recently weighed in on BAND shares. Morgan Stanley boosted their target price on shares of Bandwidth from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Monday, January 7th. Zacks Investment Research raised shares of Bandwidth from a “sell” rating to a “hold” rating in a research report on Thursday, March 7th. Finally, ValuEngine raised shares of Bandwidth from a “hold” rating to a “buy” rating in a research report on Wednesday, January 2nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Bandwidth presently has a consensus rating of “Buy” and an average target price of $52.50.

Several hedge funds and other institutional investors have recently bought and sold shares of BAND. Bank of New York Mellon Corp boosted its holdings in shares of Bandwidth by 48.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 889,436 shares of the company’s stock valued at $33,780,000 after buying an additional 288,730 shares during the period. Northern Trust Corp boosted 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. Russell Investments Group Ltd. boosted its stake in Bandwidth by 7.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 43,667 shares of the company’s stock valued at $2,339,000 after purchasing an additional 3,204 shares during the period. JPMorgan Chase & Co. boosted its stake in Bandwidth by 18.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,302 shares of the company’s stock valued at $1,784,000 after purchasing an additional 5,266 shares during the period. Finally, BlackRock Inc. boosted its stake in Bandwidth by 7.2% during the 3rd quarter. BlackRock Inc. now owns 400,570 shares of the company’s stock valued at $21,459,000 after purchasing an additional 26,888 shares during the period. 44.10% of the stock is owned by institutional investors and hedge funds.

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About Bandwidth

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.

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Insider Buying and Selling by Quarter for Bandwidth (NASDAQ:BAND)

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