Eqis Capital Management Inc. decreased its position in 8×8, Inc. (NYSE:EGHT) by 2.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 26,677 shares of the technology company’s stock after selling 646 shares during the period. Eqis Capital Management Inc.’s holdings in 8X8 were worth $415,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Sylebra Capital Ltd lifted its stake in 8X8 by 32.6% in the second quarter. Sylebra Capital Ltd now owns 11,927,774 shares of the technology company’s stock worth $190,844,000 after acquiring an additional 2,931,079 shares during the period. Vanguard Group Inc. lifted its stake in 8X8 by 1.3% in the second quarter. Vanguard Group Inc. now owns 10,794,759 shares of the technology company’s stock worth $172,717,000 after acquiring an additional 137,342 shares during the period. First Trust Advisors LP lifted its stake in 8X8 by 2.6% in the second quarter. First Trust Advisors LP now owns 4,624,736 shares of the technology company’s stock worth $73,996,000 after acquiring an additional 118,179 shares during the period. Barclays PLC lifted its position in 8X8 by 18.8% during the second quarter. Barclays PLC now owns 3,348,265 shares of the technology company’s stock valued at $53,573,000 after buying an additional 529,989 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in 8X8 by 140.0% during the third quarter. Assenagon Asset Management S.A. now owns 2,298,892 shares of the technology company’s stock valued at $35,748,000 after buying an additional 1,341,144 shares during the period. Hedge funds and other institutional investors own 94.42% of the company’s stock.

NYSE EGHT opened at $19.00 on Friday. The company has a market cap of $2.02 billion, a P/E ratio of -10.98 and a beta of 0.77. The company has a debt-to-equity ratio of 1.72, a quick ratio of 2.31 and a current ratio of 2.31. The business’s 50 day moving average price is $17.24 and its 200-day moving average price is $16.22. 8×8, Inc. has a fifty-two week low of $10.70 and a fifty-two week high of $21.57.

8X8 (NYSE:EGHT) last released its earnings results on Wednesday, October 28th. The technology company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.26. 8X8 had a negative return on equity of 68.68% and a negative net margin of 36.15%. As a group, equities analysts predict that 8×8, Inc. will post -1.08 EPS for the current year.

In other news, CFO Samuel C. Wilson sold 2,429 shares of the firm’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $15.12, for a total value of $36,726.48. Following the completion of the transaction, the chief financial officer now directly owns 176,236 shares in the company, valued at $2,664,688.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Vikram Verma sold 25,710 shares of the firm’s stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $15.80, for a total value of $406,218.00. Following the completion of the transaction, the chief executive officer now owns 53,325 shares of the company’s stock, valued at $842,535. The disclosure for this sale can be found here. Insiders have sold a total of 180,591 shares of company stock worth $2,789,690 in the last three months. Corporate insiders own 3.00% of the company’s stock.

EGHT has been the subject of several research analyst reports. B. Riley upgraded 8X8 from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $12.00 to $15.25 in a report on Thursday, October 29th. Craig Hallum upgraded 8X8 from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Thursday, October 29th. Mizuho began coverage on 8X8 in a research note on Friday, October 9th. They set a “neutral” rating and a $17.00 price target for the company. Evercore ISI began coverage on 8X8 in a research note on Thursday, August 20th. They set an “outperform” rating and a $23.00 price target for the company. Finally, Zacks Investment Research downgraded 8X8 from a “buy” rating to a “hold” rating in a research note on Friday, October 30th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $21.55.

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 offers unified communications, team collaboration, video conferencing, contact center, data and analytics, communication APIs, and other services.

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Institutional Ownership by Quarter for 8X8 (NYSE:EGHT)

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