8x8, Inc. (NASDAQ:EGHT) Shares Purchased by Barclays PLC

Barclays PLC boosted its position in 8x8, Inc. (NASDAQ:EGHT - Free Report) by 198.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 216,123 shares of the company's stock after acquiring an additional 143,791 shares during the period. Barclays PLC owned about 0.17% of 8X8 worth $440,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. B. Riley Financial Inc. acquired a new position in shares of 8X8 in the 3rd quarter valued at about $1,997,000. First Eagle Investment Management LLC grew its stake in 8X8 by 105.1% during the second quarter. First Eagle Investment Management LLC now owns 1,125,123 shares of the company's stock worth $2,498,000 after buying an additional 576,418 shares during the period. Invenomic Capital Management LP increased its position in shares of 8X8 by 10.5% in the third quarter. Invenomic Capital Management LP now owns 5,528,497 shares of the company's stock worth $11,278,000 after acquiring an additional 524,580 shares in the last quarter. FMR LLC raised its stake in shares of 8X8 by 24.5% in the 3rd quarter. FMR LLC now owns 1,600,112 shares of the company's stock valued at $3,264,000 after acquiring an additional 314,441 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of 8X8 by 8.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,982,393 shares of the company's stock valued at $6,085,000 after acquiring an additional 237,181 shares during the period. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on EGHT shares. Wedbush upgraded 8X8 to a "hold" rating in a report on Thursday, October 17th. Weiss Ratings restated a "sell (d-)" rating on shares of 8X8 in a report on Saturday. Rosenblatt Securities dropped their target price on 8X8 from $4.00 to $3.50 and set a "buy" rating on the stock in a research report on Monday, October 28th. Barclays increased their price target on 8X8 from $2.00 to $2.50 and gave the company an "equal weight" rating in a report on Tuesday, November 5th. Finally, Morgan Stanley lifted their price objective on 8X8 from $2.00 to $2.60 and gave the stock an "underweight" rating in a report on Wednesday, December 18th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $2.87.

8X8 Stock Performance

Shares of EGHT traded down $0.06 during mid-day trading on Friday, hitting $2.58. The stock had a trading volume of 778,602 shares, compared to its average volume of 588,086. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 3.26. The company has a market cap of $337.10 million, a PE ratio of -4.69, a PEG ratio of 22.25 and a beta of 1.66. 8x8, Inc. has a fifty-two week low of $1.51 and a fifty-two week high of $3.76. The company's fifty day simple moving average is $2.84 and its two-hundred day simple moving average is $2.42.

8X8 (NASDAQ:EGHT - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. 8X8 had a negative net margin of 9.68% and a negative return on equity of 6.00%. The firm had revenue of $181.00 million for the quarter, compared to analyst estimates of $178.38 million. During the same quarter in the prior year, the business earned $0.02 earnings per share. 8X8's quarterly revenue was down 2.2% on a year-over-year basis. On average, equities analysts expect that 8x8, Inc. will post 0.01 earnings per share for the current year.

About 8X8

8x8, Inc provides voice, video, chat, contact center, and enterprise-class application programmable interface (API) Software-as-a-Service solutions for small business, mid-market, enterprise customers, government agencies, and other organizations worldwide. It offers 8x8 Work, a self-contained end-to-end united communications solution that delivers voice services, secure video meetings, and unified messaging, including direct messages, public and private team messaging rooms, and peer-to-peer short and multimedia messaging; 8x8 Contact Center, a cloud-based contact center as-a-service solution; and 8x8 Engage, an artificial intelligence-powered solution that equips customer-facing employees outside the contact center with the tools and capabilities to deliver successful customer engagements.