Samuel C. Wilson Sells 5,541 Shares of 8×8, Inc. (NYSE:EGHT) Stock

8×8, Inc. (NYSE:EGHTGet Rating) CFO Samuel C. Wilson sold 5,541 shares of the business’s stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $4.31, for a total transaction of $23,881.71. Following the completion of the sale, the chief financial officer now directly owns 570,509 shares in the company, valued at $2,458,893.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

8X8 Trading Down 6.1 %

Shares of NYSE:EGHT opened at $4.00 on Wednesday. 8×8, Inc. has a 52 week low of $3.98 and a 52 week high of $25.17. The company’s 50 day moving average is $4.88 and its two-hundred day moving average is $5.49. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 3.70. The company has a market cap of $479.86 million, a PE ratio of -2.92 and a beta of 1.23.

8X8 (NYSE:EGHTGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The technology company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.13. 8X8 had a negative net margin of 23.25% and a negative return on equity of 73.61%. The company had revenue of $187.62 million for the quarter, compared to the consensus estimate of $186.54 million. Equities analysts predict that 8×8, Inc. will post -0.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of EGHT. US Bancorp DE boosted its holdings in shares of 8X8 by 228.4% in the 2nd quarter. US Bancorp DE now owns 5,733 shares of the technology company’s stock valued at $30,000 after buying an additional 3,987 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of 8X8 by 832.8% in the 1st quarter. Captrust Financial Advisors now owns 2,985 shares of the technology company’s stock valued at $38,000 after buying an additional 2,665 shares in the last quarter. Mackay Shields LLC acquired a new position in shares of 8X8 in the 1st quarter valued at $46,000. KBC Group NV acquired a new position in shares of 8X8 in the 2nd quarter valued at $55,000. Finally, Vantage Consulting Group Inc acquired a new position in shares of 8X8 in the 2nd quarter valued at $56,000. Institutional investors and hedge funds own 94.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley reduced their price target on shares of 8X8 from $11.00 to $6.50 and set an “equal weight” rating on the stock in a research note on Thursday, July 14th. Oppenheimer downgraded shares of 8X8 from an “outperform” rating to a “market perform” rating in a research note on Friday, August 5th. Bank of America raised shares of 8X8 from a “neutral” rating to a “buy” rating in a research note on Monday, August 8th. MKM Partners began coverage on shares of 8X8 in a research note on Thursday, August 4th. They set a “neutral” rating and a $5.50 target price on the stock. Finally, William Blair reaffirmed an “outperform” rating on shares of 8X8 in a research note on Thursday, July 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9.00.

8X8 Company Profile

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8×8, 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. The company offers unified communications, team collaboration, video conferencing, contact center, data and analytics, communication APIs, and other services.

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Insider Buying and Selling by Quarter for 8X8 (NYSE:EGHT)

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