Saturday, June 25, 2022

An Analysis of Bandwidth Inc. (BAND)’s Potential Price Growth

Bandwidth Inc.’s recent filing unveils that its Chief Operating Officer Bartolo Anthony acquired Company’s shares for reported $0.16 million on Jun 13. In the deal valued at $15.88 per share,10,000 shares were bought. As a result of this transaction, Bartolo Anthony now holds 22,000 shares worth roughly $ 0.42 million.


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Then, Bottorff Rebecca sold 266 shares, generating $5,634 in total proceeds. Upon selling the shares at $21.18, the Chief People Officer now owns 12,016 shares.

Before that, Bartolo Anthony bought 10,000 shares. Bandwidth Inc. shares valued at $188,800 were divested by the Chief Operating Officer at a price of $18.88 per share. As a result of the transaction, Bartolo Anthony now holds 12,000 shares, worth roughly $0.23 million.

Meanwhile, Robert W. Baird downgraded its Bandwidth Inc. [BAND] rating to a Neutral from a an Outperform in a research note published on Tuesday, May 16, 2022; the price target was decreased to $25 from $38. PT values the company’s stock at a premium of 24.44 to its Tuesday closing price. A number of analysts have revised their coverage, including Needham’s analysts, who decreased its forecast for the stock in early May from “a Buy” to “a Hold”. Piper Sandler also remained covering BAND and reiterated its “an Overweight” recommendation on February 24, 2022. JMP Securities maintained its rating on February 24, 2022. It rated BAND as “a Mkt outperform”.

Price Performance Review of BAND

On Tuesday, Bandwidth Inc. [NASDAQ:BAND] saw its stock jump 3.79% to $18.89. On the same session, the stock had its day’s lowest price of $18.46, but rose to a high of $19.57. Over the last five days, the stock has gained 20.55%. Bandwidth Inc. shares have fallen nearly -73.68% since the year began. Nevertheless, the stocks have fallen -85.30% over the past one year. While a 52-week high of $145.97 was reached on 01/04/22, a 52-week low of $15.00 was recorded on 06/14/22. SMA at 50 days reached $22.47, while 200 days put it at $55.93. A total of 0.73 million shares were traded, compared to the trading of 0.79 million shares in the previous session.

Levels Of Support And Resistance For BAND Stock

The 24-hour chart illustrates a support level at 18.38, which if violated will result in even more drops to 17.86. On the upside, there is a resistance level at 19.49. A further resistance level may holdings at 20.08. The Relative Strength Index (RSI) on the 14-day chart is 46.04, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.07, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 49.51%. Stochastics %K at 41.69% indicates the stock is a holding.

Bandwidth Inc. [BAND] – Who Are The Largest Shareholders?

In filings from Capital Research & Management Co, it is revealed that the company now owns 2,324,883 shares, or roughly 9.97% of the outstanding BAND shares. In other words, the investor’s shares have risen by 501,958 from its previous 13-F filing of 1822925.0. Additionally, The Vanguard Group, Inc. increased 8.06% of its stake after which the total value it holdings stand at $41,117,820, while BlackRock Fund Advisors reduced -1.04% of its stake to hold $36.99 million in the firm. Over the last quarter, Portolan Capital Management LLC purchased 564,631 shares of Bandwidth Inc., while ClearBridge Investments LLC bought 2,117 shares. At present, Marshall Wace LLP is holding 755,277 shares valued at $15.89 million. Newton Investment Management Nort owned 701,843 shares of the company at the time of its most recent 13F filing, worth $14.77 million.

According to FactSet, Bandwidth Inc.’s share price will average $50.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 119.78 percent from its previous closing price of $18.20. Analysts expect Bandwidth Inc. stock to reach the higher price of $100.00, while the lowest price estimate is $25.00. However, 9 analysts have rated BAND stock as an Overweight in their predictions for 2022. The most recent change occurred on February 24, 2022 when Citigroup resumed its ‘”a Neutral”‘ rating for the stock and retained the price target to $57.

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