Devin Krupka Sells 2,976 Shares of Bandwidth (NASDAQ:BAND) Stock

Devin Krupka, an insider at Bandwidth Inc., sold 2,976 shares of the company's stock at $14.06 per share, totaling $41,842.56. This sale reduced his position by 10.12%. Post-sale, Krupka owns 26,428 shares valued at $371,577.68. The transaction was disclosed in an SEC filing. Bandwidth's stock opened at $14.21, with a market cap of $433.69 million. Institutional investors hold 68.53% of the stock. Analysts have mixed ratings, with an average "Hold" rating and a $21.00 price target.

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) insider Devin Krupka sold 2,976 shares of the company's stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $14.06, for a total transaction of $41,842.56. Following the sale, the insider owned 26,428 shares in the company, valued at $371,577.68. The trade was a 10.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Bandwidth Trading Up 1.1%

Shares of BAND stock opened at $14.21 on Wednesday. The stock has a market capitalization of $433.69 million, a price-to-earnings ratio of -36.44 and a beta of 2.11. The company's fifty day simple moving average is $15.40 and its two-hundred day simple moving average is $15.13. Bandwidth Inc. has a 1 year low of $11.33 and a 1 year high of $21.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.39 and a quick ratio of 1.39.

Institutional Investors Weigh In On Bandwidth

A number of institutional investors and hedge funds have recently bought and sold shares of BAND. Tower Research Capital LLC TRC grew its stake in Bandwidth by 183.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,776 shares of the company's stock worth $60,000 after buying an additional 2,445 shares in the last quarter. State of Wyoming bought a new stake in shares of Bandwidth during the 3rd quarter worth $71,000. US Bancorp DE lifted its holdings in shares of Bandwidth by 11,281.3% during the 1st quarter. US Bancorp DE now owns 5,463 shares of the company's stock worth $72,000 after acquiring an additional 5,415 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Bandwidth in the second quarter worth $85,000. Finally, Harbor Capital Advisors Inc. increased its stake in Bandwidth by 30.3% in the third quarter. Harbor Capital Advisors Inc. now owns 7,509 shares of the company's stock valued at $125,000 after acquiring an additional 1,748 shares during the last quarter. 68.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wall Street Zen cut Bandwidth from a "buy" rating to a "hold" rating in a report on Saturday, November 1st. Wedbush reissued an "outperform" rating on shares of Bandwidth in a report on Wednesday, September 17th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Bandwidth in a research note on Wednesday, October 8th. Finally, Robert W. Baird set a $16.00 target price on shares of Bandwidth in a research note on Friday, October 31st. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $21.00.

Get Our Latest Stock Report on BAND

Bandwidth Company Profile

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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.