8×8, Inc. (NASDAQ:EGHT) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC lifted its position in shares of 8×8, Inc. (NASDAQ:EGHT) by 47.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 28,186 shares of the company’s stock after purchasing an additional 9,074 shares during the quarter. SG Americas Securities LLC’s holdings in 8X8 were worth $107,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Captrust Financial Advisors increased its stake 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. Dark Forest Capital Management LP acquired a new stake in shares of 8X8 in the third quarter worth $43,000. Toroso Investments LLC purchased a new position in 8X8 during the first quarter valued at approximately $44,000. Meeder Asset Management Inc. increased its position in 8X8 by 1,620.9% in the 4th quarter. Meeder Asset Management Inc. now owns 10,360 shares of the company’s stock worth $45,000 after purchasing an additional 9,758 shares during the last quarter. Finally, Mackay Shields LLC bought a new position in 8X8 during the first quarter valued at approximately $46,000. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on EGHT shares. 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. Rosenblatt Securities reaffirmed a “buy” rating and set a $4.00 target price on shares of 8X8 in a report on Monday, March 18th. Finally, Morgan Stanley cut their target price on shares of 8X8 from $3.80 to $3.00 and set an “equal weight” rating on the stock in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, 8X8 has an average rating of “Moderate Buy” and an average target price of $3.68.

8X8 Trading Up 1.4 %

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

Insider Activity at 8X8

In other 8X8 news, CEO Samuel C. Wilson sold 13,740 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $2.66, for a total value of $36,548.40. Following the completion of the transaction, the chief executive officer now owns 1,022,288 shares in the company, valued at approximately $2,719,286.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 32,289 shares of company stock worth $81,979. Insiders own 1.08% of the company’s stock.

8X8 Company Profile

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.