8x8 Inc (NASDAQ:EGHT - Get Free Report) insider Laurence Denny sold 10,000 shares of the company's stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $2.32, for a total value of $23,200.00. Following the sale, the insider owned 590,180 shares of the company's stock, valued at $1,369,217.60. This trade represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Laurence Denny also recently made the following trade(s):
- On Friday, September 11th, Laurence Denny sold 9,433 shares of 8X8 stock. The shares were sold at an average price of $1.82, for a total value of $17,168.06.
8X8 Price Performance
Shares of EGHT stock opened at $2.17 on Tuesday. The stock's 50-day moving average is $2.06 and its 200 day moving average is $2.04. 8x8 Inc has a 1-year low of $1.57 and a 1-year high of $2.88. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $313.43 million, a P/E ratio of 7.06, a PEG ratio of 1.55 and a beta of 1.91.
8X8 (NASDAQ:EGHT - Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.08. The business had revenue of $192.00 million during the quarter. 8X8 had a net margin of 0.98% and a return on equity of 32.17%. Research analysts predict that 8x8 Inc will post 0.20 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on EGHT. Weiss Ratings reaffirmed a "sell (d)" rating on shares of 8X8 in a research report on Tuesday, September 1st. B. Riley Financial reiterated a "buy" rating and set a $3.25 price objective (up from $3.00) on shares of 8X8 in a research note on Wednesday, August 5th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $3.00 target price on shares of 8X8 in a research report on Thursday, September 10th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, 8X8 presently has a consensus rating of "Hold" and a consensus price target of $3.12.
Read Our Latest Research Report on EGHT
Institutional Trading of 8X8
A number of institutional investors have recently made changes to their positions in the business. Cetera Investment Advisers lifted its holdings in 8X8 by 9.4% in the first quarter. Cetera Investment Advisers now owns 48,053 shares of the company's stock valued at $80,000 after acquiring an additional 4,144 shares during the period. Sei Investments Co. boosted its position in 8X8 by 38.9% in the 1st quarter. Sei Investments Co. now owns 29,209 shares of the company's stock worth $48,000 after purchasing an additional 8,177 shares in the last quarter. SG Americas Securities LLC boosted its position in 8X8 by 38.6% in the 1st quarter. SG Americas Securities LLC now owns 36,910 shares of the company's stock worth $61,000 after purchasing an additional 10,280 shares in the last quarter. Ground Swell Capital LLC acquired a new stake in shares of 8X8 during the 3rd quarter worth approximately $25,000. Finally, Heron Bay Capital Management acquired a new stake in shares of 8X8 during the 2nd quarter worth approximately $25,000. Institutional investors and hedge funds own 93.99% of the company's stock.
8X8 Company Profile
(
Get Free Report)
8x8, Inc is a cloud communications and customer experience technology company that provides voice, video, chat, contact center and communications application programming interface (API) services. Its platform is designed to help businesses manage employee communications and customer interactions through integrated, cloud-based tools.
The company's offerings include 8x8 Work, a unified communications service for business calling, messaging and meetings, and 8x8 Contact Center, which supports customer service operations across voice and digital channels.
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