Squarepoint Ops LLC Has $755,000 Stake in Bandwidth Inc. (NASDAQ:BAND)

Squarepoint Ops LLC boosted its stake in shares of Bandwidth Inc. (NASDAQ:BAND) by 49.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,355 shares of the company’s stock after buying an additional 14,754 shares during the quarter. Squarepoint Ops LLC’s holdings in Bandwidth were worth $755,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Bandwidth by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 1,769,027 shares of the company’s stock worth $30,109,000 after buying an additional 73,623 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Bandwidth by 9.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company’s stock worth $21,260,000 after buying an additional 112,269 shares during the period. Renaissance Technologies LLC lifted its holdings in Bandwidth by 15.3% during the 4th quarter. Renaissance Technologies LLC now owns 651,300 shares of the company’s stock worth $11,085,000 after buying an additional 86,200 shares during the period. Geode Capital Management LLC lifted its holdings in Bandwidth by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 570,910 shares of the company’s stock worth $9,720,000 after buying an additional 2,243 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Bandwidth by 61.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 524,586 shares of the company’s stock worth $8,928,000 after buying an additional 200,387 shares during the period. 68.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Morgan Stanley dropped their price objective on Bandwidth from $18.00 to $11.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. Needham & Company LLC began coverage on Bandwidth in a report on Wednesday, May 7th. They set a “buy” rating and a $20.00 price objective for the company. JMP Securities reissued a “market outperform” rating and set a $36.00 price objective on shares of Bandwidth in a report on Thursday, May 15th. William Blair reissued an “outperform” rating on shares of Bandwidth in a report on Friday, February 21st. Finally, Robert W. Baird cut their price objective on Bandwidth from $20.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.80.

Bandwidth Stock Up 2.7%

BAND stock opened at $14.40 on Tuesday. The stock’s fifty day simple moving average is $13.14 and its two-hundred day simple moving average is $15.96. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90. Bandwidth Inc. has a 1-year low of $11.33 and a 1-year high of $23.90. The stock has a market cap of $428.59 million, a P/E ratio of -25.26 and a beta of 1.88.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The firm had revenue of $174.24 million for the quarter, compared to analysts’ expectations of $168.96 million. Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 EPS. Analysts expect that Bandwidth Inc. will post 0.22 EPS for the current year.

Insider Activity

In other news, General Counsel Richard Brandon Asbill sold 9,878 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $15.24, for a total value of $150,540.72. Following the sale, the general counsel now owns 42,475 shares of the company’s stock, valued at $647,319. The trade was a 18.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Daryl Raiford sold 2,233 shares of the business’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $14.47, for a total transaction of $32,311.51. Following the completion of the sale, the chief financial officer now directly owns 117,578 shares in the company, valued at approximately $1,701,353.66. This trade represents a 1.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,081 shares of company stock valued at $384,998 over the last quarter. Company insiders own 6.50% of the company’s stock.

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.