SG Americas Securities LLC grew its holdings in shares of 8×8, Inc. (NASDAQ:EGHT) by 322.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 68,547 shares of the technology company’s stock after acquiring an additional 52,307 shares during the quarter. SG Americas Securities LLC’s holdings in 8X8 were worth $1,457,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of EGHT. BlackRock Inc. grew its stake in shares of 8X8 by 13.2% in the second quarter. BlackRock Inc. now owns 12,987,725 shares of the technology company’s stock worth $260,403,000 after acquiring an additional 1,517,513 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of 8X8 by 35.0% in the second quarter. Point72 Asset Management L.P. now owns 3,126,500 shares of the technology company’s stock worth $62,686,000 after acquiring an additional 810,900 shares during the last quarter. Northern Trust Corp grew its stake in shares of 8X8 by 3.9% in the second quarter. Northern Trust Corp now owns 1,189,119 shares of the technology company’s stock worth $23,842,000 after acquiring an additional 44,713 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of 8X8 by 17.5% in the second quarter. Voya Investment Management LLC now owns 1,175,909 shares of the technology company’s stock worth $23,576,000 after acquiring an additional 175,121 shares during the last quarter. Finally, FMR LLC grew its stake in shares of 8X8 by 58.9% in the second quarter. FMR LLC now owns 1,116,031 shares of the technology company’s stock worth $22,376,000 after acquiring an additional 413,806 shares during the last quarter. 71.56% of the stock is currently owned by hedge funds and other institutional investors.

EGHT stock opened at $19.41 on Thursday. 8×8, Inc. has a fifty-two week low of $13.75 and a fifty-two week high of $23.50.

8X8 (NASDAQ:EGHT) last posted its earnings results on Monday, October 29th. The technology company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $85.70 million during the quarter, compared to the consensus estimate of $84.26 million. During the same period in the prior year, the company posted $0.03 EPS. The firm’s revenue was up 18.2% compared to the same quarter last year.

A number of equities research analysts have recently commented on EGHT shares. William Blair started coverage on 8X8 in a research note on Wednesday, October 10th. They issued an “outperform” rating on the stock. BidaskClub downgraded 8X8 from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 20th. Zacks Investment Research raised 8X8 from a “sell” rating to a “hold” rating in a report on Wednesday, September 26th. Summit Insights reaffirmed a “hold” rating on shares of 8X8 in a report on Tuesday, October 30th. Finally, Bank of America set a $23.00 target price on 8X8 and gave the company a “hold” rating in a report on Tuesday, October 30th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $23.00.

In other 8X8 news, Director Ian Potter sold 1,690 shares of the company’s stock in a transaction dated Monday, October 22nd. The stock was sold at an average price of $18.35, for a total value of $31,011.50. Following the completion of the sale, the director now owns 97,354 shares in the company, valued at $1,786,445.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Vikram Verma purchased 5,730 shares of 8X8 stock in a transaction on Thursday, November 1st. The stock was bought at an average price of $17.09 per share, with a total value of $97,925.70. The disclosure for this purchase can be found here. 4.40% of the stock is currently owned by corporate insiders.

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About 8X8

8×8, Inc provides cloud-based, enterprise-class software solutions. The Company’s solutions are delivered through Software as a Service (SaaS) business model. Its segments include Americas and Europe. Its software platform brings together cloud, mobile, collaboration, video and data science technologies.

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Institutional Ownership by Quarter for 8X8 (NASDAQ:EGHT)

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