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Bandwidth's chief information officer sells $10,146 in stock

Published 07/01/2025, 03:26
Bandwidth's chief information officer sells $10,146 in stock
BAND
-18.54%

In recent transactions disclosed by Bandwidth Inc. (NASDAQ:BAND), a cloud communications company with a market capitalization of $479.5 million, Chief Information Officer Ross Kade sold shares of Class A Common Stock amounting to a total of $10,146. The sales occurred on January 3 and January 6, 2025, with prices ranging from $16.9682 to $17.3913 per share. These transactions were made to cover tax obligations related to previously vested Restricted Stock Units. Following these sales, Kade retains ownership of 52,416 shares in the company. According to InvestingPro analysis, the stock currently shows potential upside based on Fair Value calculations, with analyst price targets ranging from $18 to $36 per share. InvestingPro subscribers can access 8 additional key insights about BAND's financial health and market position.

In other recent news, Bandwidth Inc. has seen remarkable growth, with record earnings and revenue results. The enterprise cloud communications firm reported a 28% year-over-year increase in Q3 2024 revenue, reaching $194 million. The company's adjusted EBITDA rose by 74% to $24 million. Bandwidth also raised its full-year revenue outlook to $742 million, indicating a projected growth rate of 23%.

In addition to these financial highlights, Bandwidth recently appointed Devesh Agarwal as its new Chief Operating Officer. Agarwal, previously the company's Chief Software (ETR:SOWGn) Strategy Officer, has been instrumental in Bandwidth's strategic execution and product innovation, holding 25 patents in the technology sector.

These recent developments also include an increase in Bandwidth's net retention rate to 117% and a record average revenue per user (ARPU) of $212,000. Despite a 7% increase in operating expenses due to investments in research and development, the company's commercial messaging revenue grew by 32%. Lastly, Bandwidth expects political campaign revenue to contribute significantly to cloud communications revenue, with $25 million anticipated in Q4.

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