Impax Asset Management Group plc Has $5.34 Million Holdings in 8x8, Inc. (NASDAQ:EGHT)

Impax Asset Management Group plc decreased its holdings in shares of 8x8, Inc. (NASDAQ:EGHT - Free Report) by 25.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,000,000 shares of the company's stock after selling 693,434 shares during the period. Impax Asset Management Group plc owned about 1.53% of 8X8 worth $5,340,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in EGHT. B. Riley Financial Inc. acquired a new stake in 8X8 in the 3rd quarter valued at $1,997,000. Geode Capital Management LLC boosted 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 purchasing an additional 237,181 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of 8X8 by 8.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 148,201 shares of the company's stock worth $302,000 after purchasing an additional 11,287 shares during the last quarter. FMR LLC increased its position in shares of 8X8 by 24.5% during the 3rd quarter. FMR LLC now owns 1,600,112 shares of the company's stock worth $3,264,000 after purchasing an additional 314,441 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted 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 purchasing an additional 60,316 shares during the last quarter. 93.99% of the stock is owned by institutional investors and hedge funds.

8X8 Stock Performance

NASDAQ:EGHT remained flat at $2.50 on Friday. The company's stock had a trading volume of 645,229 shares, compared to its average volume of 1,100,111. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 3.08. 8x8, Inc. has a 12-month low of $1.51 and a 12-month high of $3.52. The firm has a market capitalization of $329.24 million, a PE ratio of -6.94, a price-to-earnings-growth ratio of 6.08 and a beta of 1.66. The business has a 50 day moving average of $2.77 and a 200-day moving average of $2.45.

8X8 (NASDAQ:EGHT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates 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 research analysts predict that 8x8, Inc. will post 0.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Barclays upped their price objective on shares of 8X8 from $2.50 to $3.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. Morgan Stanley raised their price target on 8X8 from $2.00 to $2.60 and gave the company an "underweight" rating in a report on Wednesday, December 18th. StockNews.com lowered 8X8 from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 5th. Mizuho lowered 8X8 from a "neutral" rating to an "underperform" rating and lowered their target price for the company from $2.75 to $2.50 in a research note on Friday, December 13th. Finally, Needham & Company LLC upped their price target on shares of 8X8 from $3.00 to $3.50 and gave the stock a "buy" rating in a research report on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, 8X8 has a consensus rating of "Hold" and a consensus target price of $2.99.

Insider Transactions at 8X8

In other 8X8 news, insider Laurence Denny sold 10,000 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $3.00, for a total value of $30,000.00. Following the transaction, the insider now owns 233,791 shares of the company's stock, valued at approximately $701,373. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 12,980 shares of company stock worth $38,817 in the last three months. Insiders own 1.22% of the company's stock.

8X8 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.