Paradigm Capital Management Inc. NY lifted its stake in 8×8, Inc. (NASDAQ:EGHT) by 28.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 89,600 shares of the technology company’s stock after purchasing an additional 20,000 shares during the period. Paradigm Capital Management Inc. NY’s holdings in 8X8 were worth $1,263,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its holdings in shares of 8X8 by 1.7% in the second quarter. PNC Financial Services Group Inc. now owns 16,812 shares of the technology company’s stock valued at $245,000 after purchasing an additional 276 shares in the last quarter. Amalgamated Bank increased its holdings in shares of 8X8 by 5.0% in the second quarter. Amalgamated Bank now owns 12,272 shares of the technology company’s stock valued at $179,000 after purchasing an additional 581 shares in the last quarter. American International Group Inc. increased its holdings in shares of 8X8 by 5.7% in the third quarter. American International Group Inc. now owns 70,361 shares of the technology company’s stock valued at $950,000 after purchasing an additional 3,804 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of 8X8 by 0.9% in the second quarter. Ameriprise Financial Inc. now owns 487,991 shares of the technology company’s stock valued at $7,101,000 after purchasing an additional 4,134 shares in the last quarter. Finally, Flinton Capital Management LLC increased its holdings in shares of 8X8 by 84.8% in the second quarter. Flinton Capital Management LLC now owns 9,112 shares of the technology company’s stock valued at $133,000 after purchasing an additional 4,182 shares in the last quarter. 71.56% of the stock is owned by institutional investors and hedge funds.

A number of analysts have commented on EGHT shares. Summit Redstone lowered shares of 8X8 from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Robert W. Baird reaffirmed a “buy” rating and set a $17.00 target price on shares of 8X8 in a report on Friday, November 17th. Zacks Investment Research lowered shares of 8X8 from a “hold” rating to a “sell” rating in a report on Tuesday, January 16th. Morgan Stanley raised shares of 8X8 from an “equal weight” rating to an “overweight” rating and set a $19.00 target price for the company in a report on Wednesday, January 17th. Finally, William Blair reaffirmed a “hold” rating on shares of 8X8 in a report on Friday, November 17th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $18.60.

In other news, insider Bryan R. Martin sold 100,000 shares of 8X8 stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $17.86, for a total transaction of $1,786,000.00. Following the transaction, the insider now directly owns 1,001,010 shares of the company’s stock, valued at $17,878,038.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 4.40% of the company’s stock.

8×8, Inc. (NASDAQ EGHT) opened at $16.80 on Monday. The firm has a market cap of $1,540.00, a price-to-earnings ratio of -16.47 and a beta of 0.71. 8×8, Inc. has a 52-week low of $10.30 and a 52-week high of $18.50.

8X8 (NASDAQ:EGHT) last announced its quarterly earnings results on Thursday, January 25th. The technology company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.06. The company had revenue of $75.58 million for the quarter, compared to analysts’ expectations of $73.90 million. 8X8 had a negative net margin of 2.56% and a positive return on equity of 0.03%. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period last year, the firm posted $0.06 earnings per share. equities analysts anticipate that 8×8, Inc. will post -0.12 EPS for the current fiscal year.

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8X8 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.

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

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