8x8, Inc. (NASDAQ:EGHT - Get Free Report) CAO Suzy M. Seandel sold 7,256 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $2.27, for a total transaction of $16,471.12. Following the completion of the transaction, the chief accounting officer now directly owns 275,172 shares of the company's stock, valued at approximately $624,640.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
8X8 Trading Down 2.6 %
NASDAQ:EGHT opened at $2.23 on Thursday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 3.73. 8x8, Inc. has a twelve month low of $2.15 and a twelve month high of $4.88. The company has a fifty day moving average of $2.66 and a 200-day moving average of $2.95.
Institutional Investors Weigh In On 8X8
A number of large investors have recently bought and sold shares of the stock. Sylebra Capital LLC acquired a new position in shares of 8X8 during the third quarter valued at about $36,261,000. Kent Lake Capital LLC bought a new stake in 8X8 in the 4th quarter valued at about $10,395,000. Aigen Investment Management LP bought a new stake in 8X8 in the 3rd quarter valued at about $63,000. DekaBank Deutsche Girozentrale acquired a new position in 8X8 during the 3rd quarter worth approximately $65,000. Finally, Bank of New York Mellon Corp boosted its holdings in 8X8 by 210.4% in the third quarter. Bank of New York Mellon Corp now owns 2,985,780 shares of the company's stock worth $7,524,000 after acquiring an additional 2,024,020 shares in the last quarter. 93.99% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
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A number of equities analysts have issued reports on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $5.00 target price on shares of 8X8 in a report on Thursday, February 1st. Rosenblatt Securities restated a "buy" rating and set a $4.00 price target on shares of 8X8 in a report on Monday, March 18th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $3.72.
Read Our Latest Stock Analysis on EGHT
About 8X8
(
Get Free Report)
8x8, Inc provides voice, video, chat, contact center, and enterprise-class application programmable interface (API) Software-as-a-Service solutions for small and mid-size businesses, mid-market and larger enterprises, government agencies, and other organizations worldwide. It provides 8x8 Work, a self-contained end-to-end united communications solution that delivers enterprise voice with public switched telephone network connectivity, video meetings, and unified messaging, as well as direct messages, public and private team messaging rooms, and short and multimedia services; 8x8 Contact Center, a multi-channel cloud-based contact center solution; and 8x8 CPaaS, a set of global communications Platform-as-a-Service.
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