Bandwidth Inc (NASDAQ:BAND) major shareholder Henry R. Kaestner sold 37,741 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $77.46, for a total transaction of $2,923,417.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Bandwidth stock opened at $78.22 on Friday. The business’s fifty day simple moving average is $75.12. Bandwidth Inc has a 1 year low of $27.75 and a 1 year high of $82.66. The stock has a market capitalization of $1.79 billion, a PE ratio of 252.32 and a beta of 0.78.
Bandwidth (NASDAQ:BAND) last issued its earnings results on Thursday, May 2nd. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.13. Bandwidth had a net margin of 6.71% and a negative return on equity of 2.45%. The firm had revenue of $53.30 million during the quarter, compared to analysts’ expectations of $51.35 million. During the same quarter last year, the company posted $0.11 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. Analysts expect that Bandwidth Inc will post -0.7 EPS for the current year.
A number of research analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of Canadian Pacific Railway from C$272.00 to C$277.00 in a report on Wednesday, April 24th. JPMorgan Chase & Co. raised their price target on shares of from GBX 385 ($5.03) to GBX 480 ($6.27) and gave the stock an “overweight” rating in a report on Wednesday, July 3rd. Zacks Investment Research cut shares of EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. KeyCorp reaffirmed a “hold” rating on shares of Tyler Technologies in a report on Monday, March 25th. Finally, Robert W. Baird set a $8.00 target price on shares of SRC Energy and gave the stock a “buy” rating in a report on Thursday, April 4th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $78.67.
Bandwidth Company 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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