Oregon Public Employees Retirement Fund Boosts Stock Holdings in 8×8, Inc. (NYSE:EGHT)

Share on StockTwits

Oregon Public Employees Retirement Fund boosted its position in 8×8, Inc. (NYSE:EGHT) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,436 shares of the technology company’s stock after purchasing an additional 700 shares during the period. Oregon Public Employees Retirement Fund’s holdings in 8X8 were worth $647,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Sylebra Capital Ltd lifted its position in shares of 8X8 by 75.9% during the first quarter. Sylebra Capital Ltd now owns 8,996,695 shares of the technology company’s stock worth $124,694,000 after acquiring an additional 3,882,116 shares in the last quarter. First Trust Advisors LP lifted its position in shares of 8X8 by 7.9% during the first quarter. First Trust Advisors LP now owns 4,506,557 shares of the technology company’s stock worth $62,461,000 after acquiring an additional 328,976 shares in the last quarter. Waddell & Reed Financial Inc. lifted its position in shares of 8X8 by 6.2% during the first quarter. Waddell & Reed Financial Inc. now owns 3,867,269 shares of the technology company’s stock worth $53,600,000 after acquiring an additional 224,653 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of 8X8 by 551.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,911,680 shares of the technology company’s stock worth $40,356,000 after acquiring an additional 2,464,453 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of 8X8 by 60.9% during the first quarter. Wellington Management Group LLP now owns 1,754,907 shares of the technology company’s stock worth $24,323,000 after acquiring an additional 664,451 shares in the last quarter. Institutional investors and hedge funds own 98.28% of the company’s stock.

In related news, CEO Vikram Verma sold 2,852 shares of the stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $16.47, for a total value of $46,972.44. Following the transaction, the chief executive officer now owns 10,988 shares of the company’s stock, valued at $180,972.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 8,042 shares of company stock worth $130,132. 3.00% of the stock is owned by insiders.

Several research firms have issued reports on EGHT. B. Riley dropped their target price on 8X8 from $13.00 to $12.00 and set a “sell” rating on the stock in a research report on Wednesday, May 13th. Robert W. Baird dropped their target price on 8X8 from $29.00 to $23.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Wells Fargo & Co decreased their price target on shares of 8X8 from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 13th. Zacks Investment Research cut shares of 8X8 from a “hold” rating to a “sell” rating in a report on Wednesday, July 22nd. Finally, BTIG Research upped their price target on shares of 8X8 from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $21.27.

EGHT opened at $15.90 on Friday. The stock has a market cap of $1.65 billion, a PE ratio of -8.93 and a beta of 0.98. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 1.53. 8×8, Inc. has a 52 week low of $10.70 and a 52 week high of $25.40. The business’s fifty day simple moving average is $15.79 and its 200 day simple moving average is $16.88.

8X8 (NYSE:EGHT) last released its earnings results on Thursday, July 30th. The technology company reported ($0.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.24. The business had revenue of $121.81 million for the quarter, compared to analysts’ expectations of $120.74 million. 8X8 had a negative return on equity of 60.61% and a negative net margin of 38.19%. As a group, equities analysts anticipate that 8×8, Inc. will post -1.05 earnings per share for the current year.

8X8 Company Profile

8×8, Inc provides cloud-based, enterprise-class software solutions. The Company’s solutions are delivered through Software as a Service (SaaS) business model. Its segments include Americas and Europe. Its software platform brings together cloud, mobile, collaboration, video and data science technologies.

Further Reading: What is a closed-end mutual fund (CEF)?

Want to see what other hedge funds are holding EGHT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 8×8, Inc. (NYSE:EGHT).

Institutional Ownership by Quarter for 8X8 (NYSE:EGHT)

Receive News & Ratings for 8X8 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 8X8 and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Wynn Resorts, Limited  Shares Sold by Oregon Public Employees Retirement Fund
Wynn Resorts, Limited Shares Sold by Oregon Public Employees Retirement Fund
Oregon Public Employees Retirement Fund Lowers Position in Cabot Oil & Gas Co.
Oregon Public Employees Retirement Fund Lowers Position in Cabot Oil & Gas Co.
Oregon Public Employees Retirement Fund Decreases Holdings in American Eagle Outfitters
Oregon Public Employees Retirement Fund Decreases Holdings in American Eagle Outfitters
Oregon Public Employees Retirement Fund Boosts Stock Holdings in 8×8, Inc.
Oregon Public Employees Retirement Fund Boosts Stock Holdings in 8×8, Inc.
Oregon Public Employees Retirement Fund Has $648,000 Stock Holdings in InterDigital Wireless Inc
Oregon Public Employees Retirement Fund Has $648,000 Stock Holdings in InterDigital Wireless Inc
Oregon Public Employees Retirement Fund Has $652,000 Position in Hub Group Inc
Oregon Public Employees Retirement Fund Has $652,000 Position in Hub Group Inc


© 2006-2020 Ticker Report