8×8, Inc. (NASDAQ:EGHT) CAO Suzy M. Seandel Sells 7,256 Shares

8×8, Inc. (NASDAQ:EGHT) CAO Suzy M. Seandel sold 7,256 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $2.27, for a total transaction of $16,471.12. Following the sale, the chief accounting officer now directly owns 275,172 shares of the company’s stock, valued at approximately $624,640.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

8X8 Stock Down 2.6 %

NASDAQ EGHT traded down $0.06 on Wednesday, hitting $2.23. 981,905 shares of the company were exchanged, compared to its average volume of 1,472,884. The company has a market cap of $275.23 million, a PE ratio of -5.07 and a beta of 1.46. 8×8, Inc. has a 12 month low of $2.15 and a 12 month high of $4.88. The stock has a fifty day moving average of $2.67 and a 200-day moving average of $2.96. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 3.73.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price target on shares of 8X8 in a research note on Thursday, February 1st. Rosenblatt Securities restated a “buy” rating and set a $4.00 target price on shares of 8X8 in a research note on Monday, March 18th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $3.72.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EGHT. The Manufacturers Life Insurance Company increased its holdings in 8X8 by 4.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 45,598 shares of the company’s stock worth $197,000 after buying an additional 1,881 shares during the last quarter. First Trust Advisors LP lifted its position in 8X8 by 10.4% during the first quarter. First Trust Advisors LP now owns 24,019 shares of the company’s stock valued at $302,000 after purchasing an additional 2,268 shares during the last quarter. Prudential Financial Inc. lifted its position in 8X8 by 2.2% during the first quarter. Prudential Financial Inc. now owns 123,113 shares of the company’s stock valued at $1,550,000 after purchasing an additional 2,630 shares during the last quarter. Captrust Financial Advisors lifted its position in 8X8 by 832.8% during the first quarter. Captrust Financial Advisors now owns 2,985 shares of the company’s stock valued at $38,000 after purchasing an additional 2,665 shares during the last quarter. Finally, Balyasny Asset Management LLC raised its stake in shares of 8X8 by 14.2% during the third quarter. Balyasny Asset Management LLC now owns 23,215 shares of the company’s stock worth $80,000 after acquiring an additional 2,889 shares in the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.

About 8X8

8×8, Inc provides voice, video, chat, contact center, and enterprise-class application programmable interface (API) Software-as-a-Service solutions for small and mid-size businesses, mid-market and larger enterprises, government agencies, and other organizations worldwide. It provides 8×8 Work, a self-contained end-to-end united communications solution that delivers enterprise voice with public switched telephone network connectivity, video meetings, and unified messaging, as well as direct messages, public and private team messaging rooms, and short and multimedia services; 8×8 Contact Center, a multi-channel cloud-based contact center solution; and 8×8 CPaaS, a set of global communications Platform-as-a-Service.