8×8, Inc. (NYSE:EGHT) EVP Sells $21,147.48 in Stock

8×8, Inc. (NYSE:EGHT) EVP Dejan Deklich sold 1,284 shares of the firm’s stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $16.47, for a total value of $21,147.48. Following the completion of the sale, the executive vice president now directly owns 107,725 shares in the company, valued at approximately $1,774,230.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Dejan Deklich also recently made the following trade(s):

  • On Wednesday, July 15th, Dejan Deklich sold 164 shares of 8X8 stock. The shares were sold at an average price of $15.31, for a total value of $2,510.84.

Shares of EGHT stock opened at $17.09 on Thursday. 8×8, Inc. has a 12-month low of $10.70 and a 12-month high of $26.67. The company has a debt-to-equity ratio of 1.53, a quick ratio of 2.25 and a current ratio of 2.25. The firm’s 50 day moving average is $15.71 and its 200 day moving average is $16.90.

8X8 (NYSE:EGHT) last announced its quarterly earnings data on Tuesday, May 12th. The technology company reported ($0.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.02. The firm had revenue of $121.48 million for the quarter, compared to the consensus estimate of $119.33 million. 8X8 had a negative net margin of 38.63% and a negative return on equity of 57.92%. The company’s revenue was up 29.6% on a year-over-year basis. During the same period last year, the firm earned ($0.09) EPS. On average, analysts predict that 8×8, Inc. will post -1.05 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of EGHT. Victory Capital Management Inc. grew its position in 8X8 by 18.6% during the 4th quarter. Victory Capital Management Inc. now owns 17,682 shares of the technology company’s stock worth $324,000 after purchasing an additional 2,772 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in 8X8 by 54.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 16,319 shares of the technology company’s stock worth $299,000 after buying an additional 5,767 shares in the last quarter. Credit Suisse AG boosted its holdings in 8X8 by 26.6% during the fourth quarter. Credit Suisse AG now owns 78,113 shares of the technology company’s stock worth $1,429,000 after buying an additional 16,426 shares in the last quarter. Amalgamated Bank raised its position in 8X8 by 4.2% during the fourth quarter. Amalgamated Bank now owns 18,143 shares of the technology company’s stock worth $332,000 after acquiring an additional 729 shares during the period. Finally, Oxford Asset Management LLP raised its position in shares of 8X8 by 36.5% in the fourth quarter. Oxford Asset Management LLP now owns 24,036 shares of the technology company’s stock valued at $440,000 after buying an additional 6,427 shares during the last quarter. Hedge funds and other institutional investors own 98.28% of the company’s stock.

Several research analysts recently issued reports on the company. B. Riley lowered their target price on 8X8 from $13.00 to $12.00 and set a “sell” rating for the company in a research report on Wednesday, May 13th. Morgan Stanley reduced their target price on 8X8 from $21.00 to $17.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 9th. Craig Hallum cut their price target on 8X8 from $25.00 to $22.00 and set a “hold” rating for the company in a research note on Wednesday, May 13th. Wells Fargo & Co dropped their target price on shares of 8X8 from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 13th. Finally, Northland Securities initiated coverage on shares of 8X8 in a research report on Friday, June 19th. They set a “buy” rating and a $23.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. 8X8 currently has an average rating of “Hold” and an average target price of $21.89.

About 8X8

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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