8x8, Inc. (NASDAQ:EGHT - Get Free Report) major shareholder Sylebra Capital Llc sold 50,000 shares of the business's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $2.14, for a total value of $107,000.00. Following the completion of the transaction, the insider now directly owns 14,187,327 shares in the company, valued at approximately $30,360,879.78. This represents a 0.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Sylebra Capital Llc also recently made the following trade(s):
- On Monday, March 24th, Sylebra Capital Llc sold 101,678 shares of 8X8 stock. The shares were sold at an average price of $2.23, for a total value of $226,741.94.
- On Wednesday, March 19th, Sylebra Capital Llc sold 100,000 shares of 8X8 stock. The shares were sold at an average price of $2.23, for a total transaction of $223,000.00.
8X8 Price Performance
EGHT traded down $0.11 during midday trading on Friday, hitting $2.01. The stock had a trading volume of 337,602 shares, compared to its average volume of 1,010,454. 8x8, Inc. has a 1 year low of $1.51 and a 1 year high of $3.52. The company has a debt-to-equity ratio of 3.08, a quick ratio of 1.24 and a current ratio of 1.25. The business has a fifty day moving average of $2.60 and a 200 day moving average of $2.51. The company has a market cap of $264.05 million, a P/E ratio of -5.57, a price-to-earnings-growth ratio of 6.08 and a beta of 1.78.
8X8 (NASDAQ:EGHT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.03. 8X8 had a negative net margin of 6.33% and a negative return on equity of 1.45%. As a group, equities analysts forecast that 8x8, Inc. will post 0.04 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the company. StockNews.com cut 8X8 from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 5th. Rosenblatt Securities decreased their price target on 8X8 from $3.50 to $3.30 and set a "buy" rating on the stock in a research report on Monday, February 3rd. Barclays raised their price objective on shares of 8X8 from $2.50 to $3.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Mizuho lowered shares of 8X8 from a "neutral" rating to an "underperform" rating and decreased their target price for the stock from $2.75 to $2.50 in a report on Friday, December 13th. Finally, Needham & Company LLC boosted their price target on shares of 8X8 from $3.00 to $3.50 and gave the company a "buy" rating in a research report on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, 8X8 has a consensus rating of "Hold" and a consensus price target of $2.99.
Read Our Latest Research Report on 8X8
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in EGHT. Pallas Capital Advisors LLC purchased a new stake in 8X8 during the 4th quarter valued at about $29,000. Picton Mahoney Asset Management grew its holdings in shares of 8X8 by 53.6% during the fourth quarter. Picton Mahoney Asset Management now owns 11,104 shares of the company's stock valued at $30,000 after buying an additional 3,876 shares during the last quarter. Captrust Financial Advisors purchased a new position in 8X8 in the 4th quarter worth approximately $30,000. Cibc World Markets Corp bought a new position in 8X8 in the 4th quarter valued at approximately $32,000. Finally, O Shaughnessy Asset Management LLC purchased a new stake in 8X8 during the 4th quarter valued at $34,000. 93.99% of the stock is currently owned by institutional investors.
8X8 Company Profile
(
Get Free Report)
8x8, Inc engages in the provision of enterprise communication solutions. It offers solutions to the business services, education, financial services, government, healthcare, and manufacturing industries. The company was founded in February 1987 and is headquartered in Campbell, CA.
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