8X8 (NASDAQ:EGHT) Insider Laurence Denny Sells 9,433 Shares

8×8 Inc (NASDAQ:EGHT) insider Laurence Denny sold 9,433 shares of the company’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $1.82, for a total transaction of $17,168.06. Following the completion of the sale, the insider directly owned 604,281 shares of the company’s stock, valued at $1,099,791.42. The trade was a 1.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

8X8 Price Performance

8X8 stock opened at $1.84 on Tuesday. 8×8 Inc has a 52 week low of $1.57 and a 52 week high of $2.88. The company’s 50 day moving average price is $1.98 and its two-hundred day moving average price is $1.99. The stock has a market cap of $266.48 million, a P/E ratio of 46.14, a P/E/G ratio of 1.26 and a beta of 1.84. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.83.

8X8 (NASDAQ:EGHT) last released its earnings results on Tuesday, August 4th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.05. The company had revenue of $190.17 million during the quarter, compared to analyst estimates of $182.47 million. 8X8 had a return on equity of 28.72% and a net margin of 0.64%.8X8 has set its FY 2027 guidance at 0.330-0.380 EPS and its Q2 2027 guidance at 0.070-0.080 EPS. On average, equities analysts predict that 8×8 Inc will post 0.2 earnings per share for the current year.

Analyst Ratings Changes

EGHT has been the topic of a number of research analyst reports. B. Riley Financial reissued a “buy” rating and issued a $3.25 price target (up from $3.00) on shares of 8X8 in a report on Wednesday, August 5th. Weiss Ratings restated a “sell (d)” rating on shares of 8X8 in a report on Tuesday, September 1st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $3.00 price objective on shares of 8X8 in a research report on Thursday, September 10th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $3.12.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC purchased a new stake in 8X8 during the first quarter valued at about $25,000. Heron Bay Capital Management purchased a new position in shares of 8X8 in the second quarter worth about $25,000. Legal & General Group Plc purchased a new position in shares of 8X8 in the second quarter worth about $26,000. Amundi bought a new stake in shares of 8X8 in the second quarter valued at approximately $43,000. Finally, Abacus Wealth Partners LLC bought a new stake in shares of 8X8 in the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.

8X8 Company Profile

8×8, Inc is a cloud communications and customer engagement company that provides voice, video, messaging, contact center and application programming interface (API) services through its integrated platform. Its offerings are designed to help businesses manage internal communications, customer interactions and digital workflows from the cloud.

The company’s product portfolio includes 8×8 Work, a unified communications solution for business calling, team messaging and meetings, and 8×8 Contact Center, which supports customer service operations across voice and digital channels.