8X8 (NASDAQ:EGHT) Insider Sells 9,433 Shares of Stock

8×8 Inc (NASDAQ:EGHT) insider Laurence Denny sold 9,433 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $1.82, for a total value of $17,168.06. Following the sale, the insider directly owned 604,281 shares in the company, valued at $1,099,791.42. This trade represents a 1.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

8X8 Stock Up 0.3%

Shares of EGHT traded up $0.01 during trading hours on Monday, hitting $1.84. The company had a trading volume of 1,389,359 shares, compared to its average volume of 1,704,732. The company has a market capitalization of $266.49 million, a PE ratio of 46.14, a price-to-earnings-growth ratio of 1.26 and a beta of 1.84. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.83. 8×8 Inc has a one year low of $1.57 and a one year high of $2.88. The company’s fifty day moving average price is $1.98 and its two-hundred day moving average price is $1.99.

8X8 (NASDAQ:EGHT) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. 8X8 had a return on equity of 28.72% and a net margin of 0.64%.The firm had revenue of $190.17 million during the quarter, compared to analysts’ expectations of $182.47 million. 8X8 has set its FY 2027 guidance at 0.330-0.380 EPS and its Q2 2027 guidance at 0.070-0.080 EPS. As a group, equities analysts forecast that 8×8 Inc will post 0.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EGHT. Weiss Ratings restated a “sell (d)” rating on shares of 8X8 in a report on Tuesday, September 1st. B. Riley Financial reissued a “buy” rating and set a $3.25 target price (up from $3.00) on shares of 8X8 in a research report on Wednesday, August 5th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $3.00 target price on shares of 8X8 in a research note on Thursday. Two equities research 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.12.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in 8X8 in the second quarter valued at about $20,624,000. Hillsdale Investment Management Inc. grew its stake in shares of 8X8 by 10.0% during the first quarter. Hillsdale Investment Management Inc. now owns 1,653,197 shares of the company’s stock worth $2,744,000 after acquiring an additional 149,800 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of 8X8 during the second quarter valued at about $2,823,000. Dimensional Fund Advisors LP increased its holdings in shares of 8X8 by 12.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,503,539 shares of the company’s stock valued at $2,496,000 after acquiring an additional 164,335 shares in the last quarter. Finally, Algert Global LLC raised its position in shares of 8X8 by 944.3% in the 2nd quarter. Algert Global LLC now owns 1,284,026 shares of the company’s stock valued at $2,196,000 after purchasing an additional 1,161,066 shares during the last quarter. 93.99% of the stock is 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.