S Squared Technology LLC Invests $1.60 Million in 8×8 Inc $EGHT

S Squared Technology LLC bought a new position in 8×8 Inc (NASDAQ:EGHT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 934,236 shares of the company’s stock, valued at approximately $1,597,544. 8X8 comprises about 0.0% of S Squared Technology LLC’s investment portfolio, making the stock its 29th biggest holding. S Squared Technology LLC owned 0.65% of 8X8 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of EGHT. Dynamic Technology Lab Private Ltd grew its holdings in shares of 8X8 by 505.2% during the first quarter. Dynamic Technology Lab Private Ltd now owns 79,147 shares of the company’s stock worth $158,000 after purchasing an additional 66,070 shares during the last quarter. Geode Capital Management LLC raised its position in shares of 8X8 by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 3,228,294 shares of the company’s stock worth $6,329,000 after purchasing an additional 84,176 shares during the last quarter. Cetera Investment Advisers purchased a new stake in shares of 8X8 in the 2nd quarter worth $55,000. JPMorgan Chase & Co. grew its holdings in shares of 8X8 by 33.3% in the second quarter. JPMorgan Chase & Co. now owns 2,516,232 shares of the company’s stock valued at $4,932,000 after purchasing an additional 628,024 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in 8X8 by 10.8% during the 2nd quarter. Rhumbline Advisers now owns 203,407 shares of the company’s stock worth $399,000 after acquiring an additional 19,813 shares in the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.

8X8 Stock Performance

NASDAQ:EGHT traded down $0.01 on Friday, hitting $2.00. The stock had a trading volume of 1,095,614 shares, compared to its average volume of 1,719,290. The stock has a market cap of $288.88 million, a price-to-earnings ratio of 50.01, a price-to-earnings-growth ratio of 1.31 and a beta of 1.83. The business’s 50-day simple moving average is $1.95 and its two-hundred day simple moving average is $2.04. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.83. 8×8 Inc has a 52-week low of $1.57 and a 52-week high of $2.88.

8X8 (NASDAQ:EGHT) last released its earnings results on Tuesday, August 4th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. 8X8 had a net margin of 0.64% and a return on equity of 28.72%. The company had revenue of $190.17 million for the quarter, compared to the consensus estimate of $182.47 million. 8X8 has set its FY 2027 guidance at 0.330-0.380 EPS and its Q2 2027 guidance at 0.070-0.080 EPS. As a group, research analysts predict that 8×8 Inc will post 0.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EGHT. Rosenblatt Securities reiterated a “buy” rating and issued a $3.00 price objective on shares of 8X8 in a report on Wednesday, August 5th. Weiss Ratings upgraded 8X8 from a “sell (e+)” rating to a “sell (d)” rating in a report on Thursday, June 4th. Finally, B. Riley Financial reissued a “buy” rating and set a $3.25 price objective (up from $3.00) on shares of 8X8 in a report on Wednesday, August 5th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, 8X8 currently has an average rating of “Hold” and a consensus price target of $2.72.

Insider Activity

In other news, Director Elizabeth Harriet Theophille sold 20,207 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $1.81, for a total transaction of $36,574.67. Following the completion of the sale, the director owned 167,086 shares of the company’s stock, valued at $302,425.66. This represents a 10.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin Kraus sold 34,329 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $2.32, for a total value of $79,643.28. Following the transaction, the chief financial officer directly owned 958,324 shares of the company’s stock, valued at $2,223,311.68. This trade represents a 3.46% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.13% of the stock is owned by corporate insiders.

8X8 Profile

8×8, Inc (NASDAQ: EGHT) is a global provider of cloud-based enterprise communications, collaboration and contact centre solutions. The company’s unified communications as a service (UCaaS) platform integrates voice, video, chat, SMS and contact-centre capabilities into a single, software-driven solution. By combining real-time analytics, team messaging and interoperability with third-party business applications, 8×8 aims to simplify communications infrastructure for organisations of all sizes.

Founded in 1987 and headquartered in Campbell, California, 8×8 pioneered hosted VoIP services for businesses in the late 1990s and went public on the NASDAQ in 1997.