Rebecca Bottorff, Chief People Officer at Bandwidth Inc. (NASDAQ:BAND), which has seen its stock surge 78% over the past year and currently has a market capitalization of $580 million, recently sold shares of the company, according to a Form 4 filing with the Securities and Exchange Commission. The transactions, dated November 29, 2024, involved the sale of 6,982 shares of Class A Common Stock at prices ranging from $21.2571 to $22.015, amounting to a total value of $148,437.
These sales were part of a plan to cover tax obligations related to vested Restricted Stock Units (RSUs), as outlined in a Rule 10b5-1 instruction letter adopted by Bottorff earlier in the year. Following these transactions, Bottorff holds 47,778 shares directly. With the stock currently trading below its Fair Value based on InvestingPro analysis, investors can access detailed insights and 8 additional ProTips through the comprehensive Pro Research Report.
In other recent news, Bandwidth Inc. has reported a record revenue of $194 million in Q3 2024, marking a 28% increase year-over-year. The adjusted EBITDA also saw a significant rise of 74% to $24 million. These recent developments are attributed to growth in direct enterprise customers and innovations in number reputation management and multichannel messaging. The company's full-year revenue outlook has been raised to $742 million, indicating a 23% growth forecast. Furthermore, Bandwidth achieved a record average revenue per user (ARPU) of $212,000. In addition, the company hosted a successful Reverb24 user conference, unveiling new global services and platform enhancements. Despite a 7% increase in operating expenses due to investments in research and development, the company's commercial messaging revenue grew by 32%, demonstrating effective customer acquisition and market share expansion.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.