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A company insider recently sold 25 shares of Bandwidth Inc [BAND]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Bandwidth Inc shares valued at $424 were sold by Krupka Devin M on Apr 15 ’24. At $16.96 per share, Krupka Devin M sold 25 shares. The insider’s holdings dropped to 9,762 shares worth approximately $0.18 million following the completion of this transaction.

Also, Ross Kade sold 3,500 shares, netting a total of over 62,449 in proceeds. Following the sale of shares at $17.84 each, the insider now holds 25,365 shares.

Before that, Bartolo Anthony had sold 7,798 shares from its account. In a trade valued at $146,234, the Chief Operating Officer traded Bandwidth Inc shares for $18.75 each. Upon closing the transaction, the insider’s holdings decreased to 7,798 shares, worth approximately $1.43 million.

As published in a research note from Piper Sandler on January 17, 2023, Bandwidth Inc [BAND] has been rated down from an Overweight to a Neutral and the price target has been revised to $25 from $18. Analysts at KeyBanc Capital Markets started covering the stock with ‘”an Overweight”‘ outlook in a report released in mid September. As of May 16, 2022, Robert W. Baird has decreased its “an Outperform” rating to a “Neutral” for BAND. Earlier on May 06, 2022, Needham downgraded its rating. Their new recommendation was “a Hold” for BAND stock which previously was a “a Buy”.

Analyzing BAND Stock Performance

During the last five days, there has been a surge of approximately 1.63%. Over the course of the year, Bandwidth Inc shares have jumped approximately 29.58%. Shares of the company reached a 52-week high of $21.68 on 03/13/24 and a 52-week low of $11.90 on 02/26/24. A 50-day SMA is recorded $17.82, while a 200-day SMA reached $14.10. Nevertheless, trading volume fell to 0.35 million shares from 0.17 million shares the previous day.

Support And Resistance Levels for Bandwidth Inc (BAND)

According to the 24-hour chart, there is a support level at 18.03, which, if violated, would cause prices to drop to 17.31. In the upper region, resistance lies at 19.45. The next price resistance is at 20.15. RSI (Relative Strength Index) is 59.26 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.65, which suggests the price will decrease in the coming days. Percent R is at 24.91%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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