The Manufacturers Life Insurance Company increased its position in 8×8 Inc (NASDAQ:EGHT) by 0.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 67,593 shares of the technology company’s stock after purchasing an additional 6 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.07% of 8×8 worth $983,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EGHT. BlackRock Inc. raised its stake in 8×8 by 120,530.1% during the first quarter. BlackRock Inc. now owns 10,695,065 shares of the technology company’s stock valued at $163,100,000 after buying an additional 10,686,199 shares during the last quarter. Hunt Lane Capital LP purchased a new position in 8×8 during the second quarter valued at $36,375,000. Marshall Wace North America L.P. raised its stake in 8×8 by 487.9% during the second quarter. Marshall Wace North America L.P. now owns 1,423,377 shares of the technology company’s stock valued at $21,351,000 after buying an additional 1,181,282 shares during the last quarter. Voya Investment Management LLC raised its stake in 8×8 by 2,585.9% during the second quarter. Voya Investment Management LLC now owns 1,055,746 shares of the technology company’s stock valued at $15,361,000 after buying an additional 1,016,439 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in 8×8 by 28.5% during the second quarter. First Trust Advisors LP now owns 3,535,356 shares of the technology company’s stock valued at $51,439,000 after buying an additional 784,916 shares during the last quarter. Institutional investors own 67.15% of the company’s stock.

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Shares of 8×8 Inc (NASDAQ EGHT) opened at $13.45 on Tuesday. 8×8 Inc has a fifty-two week low of $10.30 and a fifty-two week high of $16.80.

8×8 (NASDAQ:EGHT) last posted its earnings results on Thursday, October 26th. The technology company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.01. The business had revenue of $72.48 million during the quarter, compared to analyst estimates of $71.65 million. 8×8 had a positive return on equity of 0.03% and a negative net margin of 2.56%. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 EPS. research analysts anticipate that 8×8 Inc will post -0.12 EPS for the current fiscal year.

A number of research analysts have issued reports on EGHT shares. Zacks Investment Research upgraded 8×8 from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Tuesday, July 18th. ValuEngine upgraded 8×8 from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. B. Riley reiterated a “hold” rating and set a $14.00 price objective on shares of 8×8 in a research note on Tuesday, October 24th. Summit Redstone cut 8×8 from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Finally, William Blair reiterated a “hold” rating on shares of 8×8 in a research note on Sunday, July 30th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $17.30.

8×8 Company Profile

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.

Institutional Ownership by Quarter for 8x8 (NASDAQ:EGHT)

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