8x8, Inc. (NASDAQ:EGHT) Shares Acquired by Boston Partners

Boston Partners grew its holdings in shares of 8x8, Inc. (NASDAQ:EGHT - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,644,856 shares of the company's stock after acquiring an additional 252,083 shares during the quarter. Boston Partners owned about 5.05% of 8X8 worth $17,742,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of EGHT. B. Riley Financial Inc. bought a new stake in shares of 8X8 in the 3rd quarter worth approximately $1,997,000. Geode Capital Management LLC boosted its position in 8X8 by 8.6% during the third quarter. Geode Capital Management LLC now owns 2,982,393 shares of the company's stock valued at $6,085,000 after buying an additional 237,181 shares during the period. BNP Paribas Financial Markets grew its stake in shares of 8X8 by 8.2% during the third quarter. BNP Paribas Financial Markets now owns 148,201 shares of the company's stock valued at $302,000 after buying an additional 11,287 shares during the last quarter. FMR LLC increased its holdings in shares of 8X8 by 24.5% in the third quarter. FMR LLC now owns 1,600,112 shares of the company's stock worth $3,264,000 after buying an additional 314,441 shares during the period. Finally, Sanctuary Advisors LLC boosted its holdings in 8X8 by 178.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 94,076 shares of the company's stock valued at $192,000 after acquiring an additional 60,316 shares during the period. Hedge funds and other institutional investors own 93.99% of the company's stock.

Insider Transactions at 8X8

In other news, major shareholder Sylebra Capital Llc sold 100,000 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $2.23, for a total value of $223,000.00. Following the completion of the sale, the insider now directly owns 14,289,476 shares in the company, valued at $31,865,531.48. The trade was a 0.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Laurence Denny sold 10,000 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $3.00, for a total transaction of $30,000.00. Following the transaction, the insider now owns 233,791 shares of the company's stock, valued at $701,373. This represents a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 162,000 shares of company stock worth $364,790. Company insiders own 1.22% of the company's stock.

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8X8 Trading Down 0.9 %

NASDAQ EGHT traded down $0.02 on Tuesday, hitting $2.22. 387,843 shares of the stock were exchanged, compared to its average volume of 994,822. 8x8, Inc. has a 52-week low of $1.51 and a 52-week high of $3.52. The firm has a market capitalization of $292.36 million, a P/E ratio of -6.17, a P/E/G ratio of 6.08 and a beta of 1.78. 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 stock has a fifty day moving average price of $2.62 and a two-hundred day moving average price of $2.52.

8X8 (NASDAQ:EGHT - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.01 by $0.03. 8X8 had a negative return on equity of 1.45% and a negative net margin of 6.33%. Research analysts forecast that 8x8, Inc. will post 0.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EGHT. Barclays increased their price objective on 8X8 from $2.50 to $3.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 8X8 in a research note on Saturday. StockNews.com lowered shares of 8X8 from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 5th. Mizuho lowered 8X8 from a "neutral" rating to an "underperform" rating and lowered their price target for the company from $2.75 to $2.50 in a research report on Friday, December 13th. Finally, Rosenblatt Securities decreased their target price on 8X8 from $3.50 to $3.30 and set a "buy" rating for the company in a report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, 8X8 has an average rating of "Hold" and a consensus target price of $2.99.

8X8 Company Profile

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.