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 company’s 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 transaction, the chief accounting officer now owns 275,172 shares of the company’s stock, valued at $624,640.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

8X8 Trading Up 1.4 %

Shares of EGHT opened at $2.18 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 3.73. 8×8, Inc. has a 12-month low of $2.12 and a 12-month high of $4.88. The firm has a 50-day moving average price of $2.64 and a 200 day moving average price of $2.95. The firm has a market capitalization of $269.06 million, a P/E ratio of -4.95 and a beta of 1.46.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $5.00 price objective on shares of 8X8 in a research report on Thursday, February 1st. Morgan Stanley reduced their target price on shares of 8X8 from $3.80 to $3.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $4.00 target price on shares of 8X8 in a research report on Monday, March 18th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $3.68.

Institutional Investors Weigh In On 8X8

A number of hedge funds have recently modified their holdings of EGHT. Envestnet Asset Management Inc. grew its holdings in shares of 8X8 by 13.3% in the first quarter. Envestnet Asset Management Inc. now owns 26,524 shares of the company’s stock valued at $334,000 after purchasing an additional 3,106 shares during the period. MetLife Investment Management LLC grew its holdings in shares of 8X8 by 55.3% in the first quarter. MetLife Investment Management LLC now owns 60,331 shares of the company’s stock valued at $760,000 after purchasing an additional 21,494 shares during the period. Rhumbline Advisers grew its holdings in shares of 8X8 by 9.3% in the first quarter. Rhumbline Advisers now owns 285,895 shares of the company’s stock valued at $3,599,000 after purchasing an additional 24,273 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in 8X8 by 18.4% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 102,013 shares of the company’s stock worth $1,284,000 after buying an additional 15,889 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in 8X8 by 4.0% during the first quarter. Great West Life Assurance Co. Can now owns 101,252 shares of the company’s stock worth $1,307,000 after buying an additional 3,927 shares during the period. Hedge funds and other institutional investors 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.