Federated Hermes Inc. Boosts Position in Bandwidth Inc. (NASDAQ:BAND)

Federated Hermes Inc. grew its position in shares of Bandwidth Inc. (NASDAQ:BAND – Get Rating) by 15.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 192,610 shares of the company’s stock after purchasing an additional 26,189 shares during the period. Federated Hermes Inc. owned approximately 0.76% of Bandwidth worth $2,292,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BAND. Tower Research Capital LLC TRC raised its stake in shares of Bandwidth by 36.8% during the third quarter. Tower Research Capital LLC TRC now owns 2,946 shares of the company’s stock valued at $36,000 after purchasing an additional 792 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Bandwidth during the first quarter valued at approximately $58,000. Moseley Investment Management Inc. purchased a new stake in shares of Bandwidth during the third quarter valued at approximately $123,000. Ensign Peak Advisors Inc raised its stake in shares of Bandwidth by 25.6% during the first quarter. Ensign Peak Advisors Inc now owns 4,270 shares of the company’s stock valued at $138,000 after purchasing an additional 870 shares during the period. Finally, Keebeck Alpha LP purchased a new stake in shares of Bandwidth during the third quarter valued at approximately $139,000. Hedge funds and other institutional investors own 71.12% of the company’s stock.

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Insider Activity

In other news, Director Lukas M. Roush purchased 9,200 shares of Bandwidth stock in a transaction dated Friday, March 3rd. The stock was bought at an average price of $15.99 per share, with a total value of $147,108.00. Following the completion of the acquisition, the director now owns 23,890 shares in the company, valued at approximately $382,001.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.79% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BAND. Barclays dropped their price objective on shares of Bandwidth from $30.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, February 24th. Morgan Stanley decreased their price target on shares of Bandwidth from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Friday, February 24th. Piper Sandler downgraded shares of Bandwidth from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $18.00 to $25.00 in a research report on Tuesday, January 17th. Citigroup raised their price target on shares of Bandwidth from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Monday, February 27th. Finally, KeyCorp decreased their price target on shares of Bandwidth from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, February 24th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bandwidth currently has an average rating of “Hold” and an average price target of $29.44.

Bandwidth Stock Performance

Bandwidth stock opened at $14.38 on Friday. The company has a market cap of $365.83 million, a PE ratio of -20.25 and a beta of 1.26. The company has a fifty day moving average price of $21.91 and a two-hundred day moving average price of $18.82. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.45 and a quick ratio of 2.45. Bandwidth Inc. has a 12 month low of $9.20 and a 12 month high of $34.89.

Bandwidth (NASDAQ:BAND – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. Bandwidth had a net margin of 3.41% and a negative return on equity of 0.49%. The firm had revenue of $157.00 million during the quarter, compared to the consensus estimate of $146.96 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The firm’s revenue was up 24.6% on a year-over-year basis. Research analysts expect that Bandwidth Inc. will post -0.07 earnings per share for the current year.

About Bandwidth

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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.

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