Richard Brandon Asbill, General Counsel at Bandwidth Inc. (NASDAQ:BAND), recently executed a series of transactions involving the company's Class A Common Stock. The transactions come as Bandwidth shows strong momentum, with the stock up 78% over the past year and trading near $21, according to InvestingPro data. On November 28, 2024, Asbill acquired 18,960 shares through the exercise of Restricted Stock Units at no cost.
Following these acquisitions, Asbill sold a total of 5,561 shares on November 29, 2024, at prices ranging from $21.2571 to $22.015 per share. These sales amounted to a total value of $118,226. The transactions were conducted to cover tax obligations related to equity compensation, as outlined in a Rule 10b5-1 instruction letter adopted in March 2023. Bandwidth, with a market capitalization of $580 million, maintains a GOOD financial health score according to InvestingPro's comprehensive analysis.
After these transactions, Asbill holds 41,825 shares of Bandwidth Inc. directly. For deeper insights into Bandwidth's valuation, growth prospects, and 8 additional ProTips, visit InvestingPro to access the detailed Pro Research Report.
In other recent news, Bandwidth Inc. reported a record revenue of $194 million in the third quarter of 2024, marking a 28% increase year-over-year. The company also saw a 74% rise in its adjusted EBITDA 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 also raised its full-year revenue outlook to $742 million, indicating a 23% growth forecast. Furthermore, Bandwidth achieved a record average revenue per user (ARPU) of $212,000. The company anticipates its free cash flow for 2024 to exceed $50 million. Despite a 7% increase in operating expenses due to investments in research and development, commercial messaging revenue grew by 32%, and the net retention rate improved to 117%.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.