Elizabeth Harriet Theophille Sells 20,207 Shares of 8X8 (NASDAQ:EGHT) Stock

8×8 Inc (NASDAQ:EGHT) Director Elizabeth Harriet Theophille sold 20,207 shares of the company’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $1.81, for a total value of $36,574.67. Following the completion of the transaction, the director owned 167,086 shares of the company’s stock, valued at $302,425.66. The trade was a 10.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

8X8 Stock Up 3.1%

EGHT opened at $1.97 on Thursday. 8×8 Inc has a fifty-two week low of $1.56 and a fifty-two week high of $2.88. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.09 and a quick ratio of 1.09. The firm’s fifty day moving average price is $1.91 and its two-hundred day moving average price is $2.01. The company has a market capitalization of $279.31 million, a P/E ratio of 98.55, a P/E/G ratio of 1.38 and a beta of 1.84.

Institutional Trading of 8X8

Several hedge funds have recently modified their holdings of the company. Bank of America Corp DE boosted its holdings in shares of 8X8 by 31.9% in the 3rd quarter. Bank of America Corp DE now owns 6,234,230 shares of the company’s stock worth $13,217,000 after acquiring an additional 1,506,586 shares in the last quarter. JPMorgan Chase & Co. raised its position in 8X8 by 33.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,516,232 shares of the company’s stock valued at $4,932,000 after purchasing an additional 628,024 shares during the last quarter. Boston Partners boosted its stake in 8X8 by 7.9% in the third quarter. Boston Partners now owns 8,582,614 shares of the company’s stock worth $18,192,000 after purchasing an additional 625,479 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of 8X8 by 36.0% during the second quarter. AQR Capital Management LLC now owns 2,111,511 shares of the company’s stock worth $4,139,000 after purchasing an additional 558,562 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in shares of 8X8 by 314.6% in the fourth quarter. Marshall Wace LLP now owns 633,209 shares of the company’s stock valued at $1,247,000 after buying an additional 480,477 shares in the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Zacks Research lowered shares of 8X8 from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Weiss Ratings upgraded shares of 8X8 from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, June 4th. Finally, Rosenblatt Securities lifted their price objective on 8X8 from $2.75 to $3.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $2.45.

8X8 Company Profile

8×8, Inc (NASDAQ: EGHT) is a global provider of cloud-based enterprise communications, collaboration and contact centre solutions. The company’s unified communications as a service (UCaaS) platform integrates voice, video, chat, SMS and contact-centre capabilities into a single, software-driven solution. By combining real-time analytics, team messaging and interoperability with third-party business applications, 8×8 aims to simplify communications infrastructure for organisations of all sizes.

Founded in 1987 and headquartered in Campbell, California, 8×8 pioneered hosted VoIP services for businesses in the late 1990s and went public on the NASDAQ in 1997.