Alyeska Investment Group L.P. increased its position in 8×8, Inc. (NASDAQ:EGHT) by 19.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,366,514 shares of the technology company’s stock after purchasing an additional 222,343 shares during the period. Alyeska Investment Group L.P. owned approximately 1.49% of 8X8 worth $18,448,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Municipal Employees Retirement System of Michigan raised its position in 8X8 by 4.9% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 21,650 shares of the technology company’s stock worth $315,000 after buying an additional 1,010 shares during the last quarter. Vanguard Group Inc. raised its position in 8X8 by 4.5% in the 2nd quarter. Vanguard Group Inc. now owns 4,973,283 shares of the technology company’s stock worth $72,362,000 after buying an additional 213,257 shares during the last quarter. Goldman Sachs Group Inc. raised its position in 8X8 by 9.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 254,605 shares of the technology company’s stock worth $3,704,000 after buying an additional 21,879 shares during the last quarter. GSA Capital Partners LLP raised its position in 8X8 by 280.7% in the 2nd quarter. GSA Capital Partners LLP now owns 38,190 shares of the technology company’s stock worth $556,000 after buying an additional 28,159 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY purchased a new position in 8X8 in the 3rd quarter worth about $940,000. Institutional investors own 71.56% of the company’s stock.

A number of brokerages have weighed in on EGHT. William Blair reissued a “hold” rating on shares of 8X8 in a research report on Friday, November 17th. Zacks Investment Research lowered 8X8 from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. ValuEngine raised 8X8 from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Robert W. Baird reissued a “buy” rating and issued a $17.00 target price on shares of 8X8 in a research report on Friday, November 17th. Finally, B. Riley reissued a “hold” rating and issued a $14.00 target price on shares of 8X8 in a research report on Tuesday, October 24th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. 8X8 currently has a consensus rating of “Buy” and an average price target of $17.30.

Shares of 8×8, Inc. (EGHT) opened at $14.40 on Monday. 8×8, Inc. has a 52-week low of $10.30 and a 52-week high of $16.80.

8X8 (NASDAQ:EGHT) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.01. 8X8 had a negative net margin of 2.56% and a positive return on equity of 0.03%. The firm had revenue of $72.48 million during the quarter, compared to analyst estimates of $71.65 million. During the same quarter in the prior year, the firm earned $0.06 EPS. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. research analysts expect that 8×8, Inc. will post -0.12 earnings per share for the current year.

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8X8 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.

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

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