272 Capital LP Has $402,000 Holdings in Bandwidth Inc. (NASDAQ:BAND)

272 Capital LP lessened its position in shares of Bandwidth Inc. (NASDAQ:BAND) by 27.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,977 shares of the company’s stock after selling 8,621 shares during the quarter. 272 Capital LP owned about 0.08% of Bandwidth worth $402,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Innealta Capital LLC acquired a new position in shares of Bandwidth during the 2nd quarter worth about $30,000. nVerses Capital LLC boosted its stake in Bandwidth by 80.0% during the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $32,000 after acquiring an additional 800 shares during the last quarter. Quarry LP boosted its stake 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 acquiring an additional 1,245 shares during the last quarter. Redwood Wealth Management Group LLC acquired a new position in Bandwidth during the second quarter valued at approximately $35,000. Finally, Daiwa Securities Group Inc. acquired a new stake in Bandwidth in the second quarter worth $57,000. 68.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bandwidth

In other Bandwidth news, CFO Daryl Raiford sold 4,371 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $20.70, for a total value of $90,479.70. Following the completion of the sale, the chief financial officer now owns 93,451 shares in the company, valued at $1,934,435.70. This trade represents a 4.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Devin M. Krupka sold 3,658 shares of Bandwidth stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $77,769.08. Following the completion of the transaction, the insider now directly owns 11,097 shares of the company’s stock, valued at approximately $235,922.22. This trade represents a 24.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,733 shares of company stock worth $948,310 over the last ninety days. 6.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

BAND has been the topic of several recent analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $36.00 price objective on shares of Bandwidth in a research report on Tuesday, August 27th. Robert W. Baird increased their price objective on shares of Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $28.33.

Bandwidth Stock Performance

Shares of BAND opened at $19.44 on Friday. Bandwidth Inc. has a 12 month low of $11.90 and a 12 month high of $25.02. The firm has a fifty day simple moving average of $19.11 and a 200 day simple moving average of $18.27. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.29 and a current ratio of 1.29.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. The company had revenue of $193.90 million during the quarter, compared to the consensus estimate of $182.05 million. Bandwidth had a negative net margin of 2.23% and a negative return on equity of 0.89%. The company’s quarterly revenue was up 27.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 EPS. As a group, equities analysts expect that Bandwidth Inc. will post 0.08 earnings per share for the current fiscal year.

About Bandwidth

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.