8×8, Inc. (NASDAQ:EGHT) Shares Bought by Beck Bode LLC

Beck Bode LLC boosted its holdings in shares of 8×8, Inc. (NASDAQ:EGHT) by 14.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,491 shares of the company’s stock after acquiring an additional 4,983 shares during the quarter. Beck Bode LLC’s holdings in 8X8 were worth $163,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its stake in shares of 8X8 by 4.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 45,598 shares of the company’s stock valued at $197,000 after buying an additional 1,881 shares in the last quarter. First Trust Advisors LP grew its stake in shares of 8X8 by 10.4% in the first quarter. First Trust Advisors LP now owns 24,019 shares of the company’s stock valued at $302,000 after buying an additional 2,268 shares in the last quarter. Arizona State Retirement System grew its stake in shares of 8X8 by 9.0% in the second quarter. Arizona State Retirement System now owns 31,753 shares of the company’s stock valued at $134,000 after buying an additional 2,626 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of 8X8 by 2.2% in the first quarter. Prudential Financial Inc. now owns 123,113 shares of the company’s stock valued at $1,550,000 after buying an additional 2,630 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in shares of 8X8 by 832.8% in the first quarter. Captrust Financial Advisors now owns 2,985 shares of the company’s stock valued at $38,000 after buying an additional 2,665 shares in the last quarter. Institutional investors and hedge funds own 99.89% of the company’s stock.

Insiders Place Their Bets

In other 8X8 news, CEO Samuel C. Wilson sold 50,000 shares of 8X8 stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $2.52, for a total transaction of $126,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,091,696 shares of the company’s stock, valued at approximately $2,751,073.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 66,393 shares of company stock valued at $166,602 in the last ninety days. Insiders own 1.08% of the company’s stock.

8X8 Stock Down 6.6 %

NASDAQ EGHT traded down $0.21 during trading on Thursday, reaching $2.96. 214,822 shares of the company’s stock were exchanged, compared to its average volume of 1,827,205. The stock has a market cap of $361.59 million, a P/E ratio of -5.90 and a beta of 1.32. The company has a debt-to-equity ratio of 3.69, a quick ratio of 1.23 and a current ratio of 1.23. The company has a 50 day moving average price of $2.58 and a two-hundred day moving average price of $3.36. 8×8, Inc. has a 1 year low of $2.15 and a 1 year high of $6.49.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. StockNews.com assumed coverage on 8X8 in a research note on Thursday, October 5th. They issued a “buy” rating for the company. Barclays lowered their target price on 8X8 from $4.00 to $2.50 and set an “equal weight” rating for the company in a research note on Thursday, November 2nd. Mizuho lowered their target price on 8X8 from $5.00 to $3.75 and set a “neutral” rating for the company in a research note on Monday, August 14th. Needham & Company LLC lowered their target price on 8X8 from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, November 2nd. Finally, Craig Hallum raised 8X8 from a “hold” rating to a “buy” rating and set a $4.50 target price for the company in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $4.26.

About 8X8

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. It provides 8×8 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; 8×8 Contact Center, a multi-channel cloud-based contact center solution; and 8×8 CPaaS, a set of global communications Platform-as-a-Service.