8x8, Inc. (NASDAQ:EGHT - Get Free Report) major shareholder Sylebra Capital Llc sold 50,000 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $2.14, for a total value of $107,000.00. Following the completion of the transaction, the insider now directly owns 14,187,327 shares of the company's stock, valued at approximately $30,360,879.78. This represents a 0.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Sylebra Capital Llc also recently made the following trade(s):
- On Wednesday, March 19th, Sylebra Capital Llc sold 100,000 shares of 8X8 stock. The stock was sold at an average price of $2.23, for a total transaction of $223,000.00.
8X8 Stock Performance
Shares of 8X8 stock opened at $2.24 on Tuesday. The firm has a market cap of $294.99 million, a PE ratio of -6.22, a price-to-earnings-growth ratio of 6.08 and a beta of 1.78. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 3.08. 8x8, Inc. has a 52 week low of $1.51 and a 52 week high of $3.52. The business's fifty day simple moving average is $2.62 and its 200-day simple moving average is $2.52.
8X8 (NASDAQ:EGHT - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.03. 8X8 had a negative net margin of 6.33% and a negative return on equity of 1.45%. Equities analysts forecast that 8x8, Inc. will post 0.04 earnings per share for the current year.
Analyst Ratings Changes
EGHT has been the topic of a number of recent research reports. Morgan Stanley boosted their price target on shares of 8X8 from $2.00 to $2.60 and gave the stock an "underweight" rating in a research report on Wednesday, December 18th. StockNews.com lowered 8X8 from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 5th. Needham & Company LLC increased their price target on 8X8 from $3.00 to $3.50 and gave the company a "buy" rating in a report on Wednesday, February 5th. Mizuho lowered 8X8 from a "neutral" rating to an "underperform" rating and lowered their price objective for the stock from $2.75 to $2.50 in a research note on Friday, December 13th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 8X8 in a research note on Saturday. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $2.99.
View Our Latest Report on 8X8
Hedge Funds Weigh In On 8X8
A number of hedge funds have recently made changes to their positions in the stock. Boston Partners lifted its stake in 8X8 by 3.9% during the fourth quarter. Boston Partners now owns 6,644,856 shares of the company's stock worth $17,742,000 after purchasing an additional 252,083 shares in the last quarter. Invenomic Capital Management LP raised its holdings in shares of 8X8 by 10.5% in the 3rd quarter. Invenomic Capital Management LP now owns 5,528,497 shares of the company's stock valued at $11,278,000 after buying an additional 524,580 shares during the period. Bank of America Corp DE lifted its stake in 8X8 by 7.0% during the 4th quarter. Bank of America Corp DE now owns 3,795,150 shares of the company's stock worth $10,133,000 after acquiring an additional 249,798 shares in the last quarter. Geode Capital Management LLC boosted its holdings in 8X8 by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 3,024,322 shares of the company's stock valued at $8,077,000 after acquiring an additional 41,929 shares during the period. Finally, AQR Capital Management LLC grew its position in 8X8 by 4.8% in the 4th quarter. AQR Capital Management LLC now owns 1,772,844 shares of the company's stock valued at $4,733,000 after acquiring an additional 81,843 shares in the last quarter. Hedge funds and other institutional investors own 93.99% of the company's stock.
8X8 Company Profile
(
Get Free Report)
8x8, Inc engages in the provision of enterprise communication solutions. It offers solutions to the business services, education, financial services, government, healthcare, and manufacturing industries. The company was founded in February 1987 and is headquartered in Campbell, CA.
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