Parametric Portfolio Associates LLC Has $1.25 Million Holdings in Bandwidth Inc (NASDAQ:BAND)

Parametric Portfolio Associates LLC lessened its position in shares of Bandwidth Inc (NASDAQ:BAND) by 8.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,694 shares of the company’s stock after selling 1,553 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.07% of Bandwidth worth $1,252,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in BAND. JPMorgan Chase & Co. grew its holdings in shares of Bandwidth by 476.4% during the 1st quarter. JPMorgan Chase & Co. now owns 69,164 shares of the company’s stock worth $4,631,000 after purchasing an additional 57,165 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Bandwidth by 388.6% during the 1st quarter. Citigroup Inc. now owns 26,470 shares of the company’s stock worth $1,772,000 after purchasing an additional 21,052 shares in the last quarter. Gilder Gagnon Howe & Co. LLC lifted its position in shares of Bandwidth by 14.9% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 551,652 shares of the company’s stock worth $36,939,000 after buying an additional 71,491 shares during the period. Strs Ohio bought a new position in shares of Bandwidth during the 2nd quarter worth approximately $322,000. Finally, Virginia Retirement Systems ET AL bought a new position in shares of Bandwidth during the 2nd quarter worth approximately $1,388,000. 65.47% of the stock is currently owned by institutional investors.

Bandwidth stock opened at $62.38 on Friday. The company has a market capitalization of $1.43 billion, a PE ratio of 201.23 and a beta of 0.60. Bandwidth Inc has a one year low of $27.75 and a one year high of $90.63. The business has a 50 day simple moving average of $74.86 and a 200 day simple moving average of $74.73.

Bandwidth (NASDAQ:BAND) last posted its earnings results on Wednesday, July 31st. The company reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.19. The business had revenue of $56.80 million during the quarter, compared to the consensus estimate of $55.06 million. Bandwidth had a negative return on equity of 4.97% and a net margin of 3.14%. Bandwidth’s revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the company earned $0.20 EPS. On average, sell-side analysts anticipate that Bandwidth Inc will post -0.68 EPS for the current year.

In other Bandwidth news, major shareholder Henry R. Kaestner sold 16,685 shares of Bandwidth stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $85.45, for a total value of $1,425,733.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeffrey A. Hoffman sold 10,000 shares of Bandwidth stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $85.04, for a total value of $850,400.00. The disclosure for this sale can be found here. 15.27% of the stock is owned by company insiders.

Several equities analysts recently commented on the company. JPMorgan Chase & Co. assumed coverage on Bandwidth in a research report on Wednesday, July 3rd. They set an “overweight” rating and a $90.00 target price for the company. Morgan Stanley downgraded Bandwidth from an “equal” rating to a “weight” rating and cut their target price for the stock from $74.00 to $67.00 in a research report on Thursday, September 19th. They noted that the move was a valuation call. Zacks Investment Research downgraded Bandwidth from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, ValuEngine downgraded Bandwidth from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $77.50.

About Bandwidth

Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provider 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.

Read More: What is Compound Interest?

Institutional Ownership by Quarter for Bandwidth (NASDAQ:BAND)

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.