8×8, Inc. (NASDAQ:EGHT) EVP Dejan Deklich sold 36,136 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $22.06, for a total value of $797,160.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of NASDAQ EGHT traded up $0.29 during mid-day trading on Tuesday, reaching $22.35. 1,170,700 shares of the company’s stock were exchanged, compared to its average volume of 1,192,216. 8×8, Inc. has a 52-week low of $15.13 and a 52-week high of $23.50.
8X8 (NASDAQ:EGHT) last released its quarterly earnings results on Tuesday, January 29th. The technology company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). The business had revenue of $89.91 million for the quarter, compared to analysts’ expectations of $88.57 million.
EGHT has been the subject of a number of research analyst reports. Zacks Investment Research upgraded 8X8 from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. BidaskClub cut 8X8 from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. Rosenblatt Securities reiterated a “buy” rating and set a $22.50 price target on shares of 8X8 in a report on Thursday, January 31st. Needham & Company LLC lowered their price target on 8X8 from $23.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, January 30th. Finally, Guggenheim initiated coverage on 8X8 in a report on Monday, March 11th. They set a “neutral” rating and a $20.00 price target for the company. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $22.72.
A number of institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in 8X8 by 12.8% during the 4th quarter. Geode Capital Management LLC now owns 1,031,910 shares of the technology company’s stock valued at $18,614,000 after acquiring an additional 117,337 shares during the period. Norges Bank purchased a new position in 8X8 during the 4th quarter valued at about $14,469,000. Amalgamated Bank acquired a new stake in 8X8 in the 4th quarter valued at about $260,000. HRT Financial LLC acquired a new stake in 8X8 in the 4th quarter valued at about $377,000. Finally, Emancipation Management LLC acquired a new stake in 8X8 in the 4th quarter valued at about $198,000. Institutional investors own 71.56% of the company’s stock.
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8X8 Company Profile
8×8, Inc provides cloud-based, enterprise-class software solutions. The Company’s solutions are delivered through Software as a Service (SaaS) business model. Its segments include Americas and Europe. Its software platform brings together cloud, mobile, collaboration, video and data science technologies.
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