Moody Aldrich Partners LLC Cuts Stock Position in Bandwidth Inc (NASDAQ:BAND)

Moody Aldrich Partners LLC lessened its holdings in Bandwidth Inc (NASDAQ:BAND) by 15.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,234 shares of the company’s stock after selling 6,795 shares during the period. Moody Aldrich Partners LLC owned about 0.16% of Bandwidth worth $4,729,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Bandwidth by 39.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,215 shares of the company’s stock valued at $281,000 after acquiring an additional 621 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in Bandwidth during the 2nd quarter valued at $377,000. Calamos Advisors LLC grew its holdings in Bandwidth by 4.6% during the 2nd quarter. Calamos Advisors LLC now owns 18,529 shares of the company’s stock valued at $2,354,000 after purchasing an additional 809 shares in the last quarter. Moseley Investment Management Inc. grew its holdings in Bandwidth by 2,401.1% during the 2nd quarter. Moseley Investment Management Inc. now owns 113,675 shares of the company’s stock valued at $14,437,000 after purchasing an additional 109,130 shares in the last quarter. Finally, Strs Ohio acquired a new stake in Bandwidth during the 2nd quarter valued at $165,000. 84.67% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently weighed in on BAND. BidaskClub raised shares of Bandwidth from a “buy” rating to a “strong-buy” rating in a report on Thursday. Zacks Investment Research lowered shares of Bandwidth from a “buy” rating to a “hold” rating and set a $145.00 price objective for the company. in a report on Thursday, July 23rd. JMP Securities raised their price objective on shares of Bandwidth from $95.00 to $99.00 and gave the stock a “market outperform” rating in a report on Friday, May 1st. KeyCorp raised their price objective on shares of Bandwidth from $125.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Morgan Stanley raised their price objective on shares of Bandwidth from $115.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $140.57.

Shares of NASDAQ BAND traded down $4.21 during midday trading on Friday, hitting $144.78. The company’s stock had a trading volume of 878,796 shares, compared to its average volume of 357,921. Bandwidth Inc has a 1-year low of $42.61 and a 1-year high of $156.99. The firm’s fifty day moving average price is $130.29 and its 200-day moving average price is $92.98. The company has a debt-to-equity ratio of 0.82, a quick ratio of 12.89 and a current ratio of 12.89. The firm has a market cap of $3.45 billion, a P/E ratio of -141.94 and a beta of 0.80.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.13 EPS for the quarter. Bandwidth had a negative net margin of 9.21% and a negative return on equity of 1.45%. The business had revenue of $76.79 million during the quarter, compared to analyst estimates of $70.44 million. As a group, research analysts predict that Bandwidth Inc will post -0.35 earnings per share for the current fiscal year.

In other Bandwidth news, CEO David A. Morken sold 87,870 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $127.69, for a total transaction of $11,220,120.30. Following the sale, the chief executive officer now directly owns 64,066 shares in the company, valued at approximately $8,180,587.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas A. Suriano sold 234 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $125.89, for a total transaction of $29,458.26. Following the sale, the director now owns 5,215 shares in the company, valued at $656,516.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 147,271 shares of company stock worth $17,862,643. 11.05% of the stock is currently owned by insiders.

Bandwidth Profile

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.

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Institutional Ownership by Quarter for Bandwidth (NASDAQ:BAND)

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