Checking in on Bandwidth Inc. (BAND) after recent insiders movement


Bandwidth Inc.’s recent filing unveils that its Chief Financial Officer Raiford Daryl unloaded Company’s shares for reported $16768.0 on Jul 24. In the deal valued at $14.21 per share,1,180 shares were sold. As a result of this transaction, Raiford Daryl now holds 21,686 shares worth roughly $ 0.31 million.

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Then, Bottorff Rebecca sold 268 shares, generating $3,213 in total proceeds. Upon selling the shares at $11.99, the Chief People Officer now owns 17,058 shares.

Before that, Ross Kade sold 70 shares. Bandwidth Inc. shares valued at $785 were divested by the Chief Information Officer at a price of $11.22 per share. As a result of the transaction, Ross Kade now holds 13,081 shares, worth roughly $0.19 million.

Piper Sandler downgraded its Bandwidth Inc. [BAND] rating to a Neutral from a an Overweight in a research note published on Friday, January 17, 2023; the price target was increased to $25 from $18. PT values the company’s stock at a premium of 42.2 to its Friday closing price.

Price Performance Review of BAND

On Friday, Bandwidth Inc. [NASDAQ:BAND] saw its stock jump 0.56% to $14.45. On the same session, the stock had its day’s lowest price of $14.35, but rose to a high of $14.8667. Over the last five days, the stock has gained 5.17%. Bandwidth Inc. shares have fallen nearly -37.04% since the year began. Nevertheless, the stocks have fallen -6.77% over the past one year. While a 52-week high of $29.07 was reached on 02/03/23, a 52-week low of $9.20 was recorded on 05/17/23. SMA at 50 days reached $13.98, while 200 days put it at $16.88. A total of 0.19 million shares were traded, compared to the trading of 0.17 million shares in the previous session.

Levels Of Support And Resistance For BAND Stock

The 24-hour chart illustrates a support level at 14.24, which if violated will result in even more drops to 14.04. On the upside, there is a resistance level at 14.76. A further resistance level may holdings at 15.07. The Relative Strength Index (RSI) on the 14-day chart is 56.20, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.68, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 21.41%. Stochastics %K at 81.84% indicates the stock is a selling.

How much short interest is there in Bandwidth Inc.?

A steep rise in short interest was recorded in Bandwidth Inc. stocks on Aug 14, 2023, dropping by -0.16 million shares to a total of 1.17 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 1.33 million shares. There was a decline of -13.68%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 5.73% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.05.

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

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 2,037,834 shares, or roughly 8.64% of the outstanding BAND shares. In other words, the investor’s shares have fallen by -6,525 from its previous 13-F filing of 2044359.0. Additionally, The Vanguard Group, Inc. decreased -22.09% of its stake after which the total value it holdings stand at $21,155,824, while SSgA Funds Management, Inc. added 23.11% of its stake to hold $12.18 million in the firm. Over the last quarter, Dimensional Fund Advisors LP purchased 20,553 shares of Bandwidth Inc., while Jacobs Levy Equity Management, In bought 34,073 shares. At present, Newton Investment Management Nort is holding 593,632 shares valued at $8.99 million. Renaissance Technologies LLC owned 582,300 shares of the company at the time of its most recent 13F filing, worth $8.82 million.

According to FactSet, Bandwidth Inc.’s share price will average $21.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 18.3 percent from its previous closing price of $14.37. Analysts expect Bandwidth Inc. stock to reach the higher price of $36.00, while the lowest price estimate is $15.00. However, 10 analysts have rated BAND stock as an Overweight in their predictions for 2023.


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