Affiliate files intent to sell $14.27M in Bandwidth Inc. stock
BAND has more than doubled off its 52-week low of $12.5.
Summary
An affiliate of Bandwidth Inc. plans to sell $14.27 million worth of stock, contributing to a recent pattern of insider selling.
Key Events · Ownership and Investor Activity · BAND
-
Affiliate Files Intent to Sell
Henry R. Kaestner, an affiliate, filed a Form 144 to sell 195,000 shares of Bandwidth Inc. common stock.
-
Significant Proposed Sale Value
The proposed sale is valued at approximately $14.27 million, representing about 0.63% of the company's market capitalization.
-
Adds to Insider Selling Trend
This filing follows a period of net insider distribution, with over $12 million in open-market sales by other insiders, including C-suite executives, in the last 90 days.
Analysis · BAND · Technology
An affiliate of Bandwidth Inc., Henry R. Kaestner, has filed a Form 144 indicating an intent to sell 195,000 shares of common stock, valued at approximately $14.27 million. This proposed sale represents a notable amount of shares and adds to the recent trend of insider selling observed at the company, including sales by the CFO, CPO, and COO in the past 90 days.
At the time of this filing, BAND was trading at $71.21 on NASDAQ in the Technology sector, with a market capitalization of approximately $2.3B. The 52-week trading range was $12.50 to $75.50. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.