S Squared Technology LLC Takes Position in 8×8 Inc $EGHT

S Squared Technology LLC bought a new stake in shares of 8×8 Inc (NASDAQ:EGHT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 934,236 shares of the company’s stock, valued at approximately $1,597,544,000. 8X8 makes up approximately 0.5% of S Squared Technology LLC’s investment portfolio, making the stock its 29th largest holding. S Squared Technology LLC owned 0.65% of 8X8 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in EGHT. Dynamic Technology Lab Private Ltd increased its holdings in 8X8 by 505.2% in 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 in the last quarter. Geode Capital Management LLC grew its position in shares of 8X8 by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 3,228,294 shares of the company’s stock worth $6,329,000 after buying an additional 84,176 shares during the period. Cetera Investment Advisers acquired a new stake in shares of 8X8 during the 2nd quarter worth approximately $55,000. JPMorgan Chase & Co. increased its stake in shares of 8X8 by 33.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,516,232 shares of the company’s stock valued at $4,932,000 after acquiring an additional 628,024 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of 8X8 by 10.8% in the 2nd quarter. Rhumbline Advisers now owns 203,407 shares of the company’s stock valued at $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.

Insiders Place Their Bets

In other 8X8 news, CFO Kevin Kraus sold 34,329 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were 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 approximately $2,223,311.68. This trade represents a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elizabeth Harriet Theophille sold 20,207 shares of 8X8 stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $1.81, for a total transaction of $36,574.67. Following the transaction, 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 SEC filing for this sale provides additional information. Insiders own 2.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EGHT. Weiss Ratings raised shares of 8X8 from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, June 4th. B. Riley Financial reaffirmed a “buy” rating and issued a $3.25 price target (up from $3.00) on shares of 8X8 in a research note on Wednesday, August 5th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $3.00 price target on shares of 8X8 in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $2.72.

8X8 Stock Down 1.5%

Shares of NASDAQ:EGHT opened at $1.98 on Tuesday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.05 and a current ratio of 1.05. 8×8 Inc has a 52-week low of $1.57 and a 52-week high of $2.88. The business’s 50 day simple moving average is $1.94 and its two-hundred day simple moving average is $2.06. The firm has a market cap of $285.99 million, a P/E ratio of 49.51, a PEG ratio of 1.38 and a beta of 1.83.

8X8 (NASDAQ:EGHT) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.04 by $0.05. 8X8 had a return on equity of 28.72% and a net margin of 0.64%.The firm had revenue of $190.17 million during 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 forecast that 8×8 Inc will post 0.2 EPS for the current fiscal year.

8X8 Company 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.