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

8×8 Inc (NASDAQ:EGHT) Director Elizabeth Harriet Theophille sold 20,207 shares of 8X8 stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $1.81, for a total transaction of $36,574.67. Following the completion of the sale, the director owned 167,086 shares in the company, valued at $302,425.66. This trade represents a 10.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

8X8 Price Performance

Shares of NASDAQ EGHT opened at $1.91 on Wednesday. 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 business has a 50-day moving average of $1.92 and a 200-day moving average of $2.01. The stock has a market capitalization of $270.80 million, a price-to-earnings ratio of 95.55, a PEG ratio of 1.34 and a beta of 1.84. 8×8 Inc has a fifty-two week low of $1.56 and a fifty-two week high of $2.88.

Analyst Ratings Changes

EGHT has been the topic of several research analyst reports. Rosenblatt Securities increased their price target on shares of 8X8 from $2.75 to $3.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Weiss Ratings raised 8X8 from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, June 4th. Finally, Zacks Research lowered 8X8 from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. One 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $2.45.

Hedge Funds Weigh In On 8X8

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP boosted its holdings in shares of 8X8 by 83.9% during the 4th quarter. GSA Capital Partners LLP now owns 555,042 shares of the company’s stock valued at $1,093,000 after acquiring an additional 253,192 shares in the last quarter. Nano Cap New Millennium Growth Fund L P bought a new stake in 8X8 during the 4th quarter worth $749,000. Sequoia Financial Advisors LLC acquired a new position in 8X8 in the 1st quarter worth about $25,000. Hillsdale Investment Management Inc. increased its holdings in 8X8 by 10.0% in the 1st quarter. Hillsdale Investment Management Inc. now owns 1,653,197 shares of the company’s stock worth $2,744,000 after purchasing an additional 149,800 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in 8X8 by 38.6% in the first quarter. SG Americas Securities LLC now owns 36,910 shares of the company’s stock valued at $61,000 after purchasing an additional 10,280 shares during the last quarter. 93.99% of the stock is currently owned by institutional investors and hedge funds.

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.