KAMES CAPITAL plc Lowers Stock Holdings in Bandwidth Inc (NASDAQ:BAND)

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KAMES CAPITAL plc reduced its position in shares of Bandwidth Inc (NASDAQ:BAND) by 14.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 121,673 shares of the company’s stock after selling 21,252 shares during the period. KAMES CAPITAL plc owned about 0.53% of Bandwidth worth $7,921,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE boosted its position in shares of Bandwidth by 66.8% during the second quarter. US Bancorp DE now owns 502 shares of the company’s stock worth $37,000 after buying an additional 201 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Bandwidth by 118.3% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 738 shares of the company’s stock worth $55,000 after buying an additional 400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Bandwidth during the second quarter worth $66,000. Bank of Montreal Can purchased a new position in shares of Bandwidth during the second quarter worth $103,000. Finally, SG Americas Securities LLC purchased a new position in shares of Bandwidth during the second quarter worth $300,000. Institutional investors and hedge funds own 65.47% of the company’s stock.

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

NASDAQ:BAND traded up $0.46 during midday trading on Monday, reaching $58.88. The company had a trading volume of 9,771 shares, compared to its average volume of 332,192. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 189.94 and a beta of 0.60. The stock’s fifty day simple moving average is $71.28 and its 200-day simple moving average is $74.50. Bandwidth Inc has a 12-month low of $27.75 and a 12-month high of $90.63.

Bandwidth (NASDAQ:BAND) last released its earnings results on Wednesday, July 31st. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.19. The firm had revenue of $56.80 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business posted $0.20 earnings per share. As a group, equities research analysts predict that Bandwidth Inc will post -0.68 earnings per share for the current fiscal year.

Several research firms have recently commented on BAND. Morgan Stanley lowered Bandwidth from an “equal” rating to a “weight” rating and lowered their price target 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 lowered Bandwidth from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. began coverage on Bandwidth in a research report on Wednesday, July 3rd. They set an “overweight” rating and a $90.00 price target for the company. Finally, ValuEngine lowered 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 given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $77.50.

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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