260,764 Shares in 8×8 Inc $EGHT Acquired by Globeflex Capital L P

Globeflex Capital L P acquired a new position in shares of 8×8 Inc (NASDAQ:EGHT) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 260,764 shares of the company’s stock, valued at approximately $446,000. Globeflex Capital L P owned 0.18% of 8X8 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of EGHT. Ieq Capital LLC purchased a new stake in shares of 8X8 in the 2nd quarter worth $428,000. Heron Bay Capital Management purchased a new position in shares of 8X8 during the second quarter valued at $25,000. BlackRock Inc. purchased a new position in shares of 8X8 during the second quarter valued at $20,624,000. Deutsche Bank AG bought a new stake in shares of 8X8 in the second quarter valued at about $1,237,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of 8X8 in the second quarter valued at about $80,000. 93.99% of the stock is owned by institutional investors.

Insider Transactions at 8X8

In other news, CFO Kevin Kraus sold 34,329 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $2.32, for a total value of $79,643.28. Following the sale, the chief financial officer directly owned 958,324 shares in the company, valued at approximately $2,223,311.68. This trade represents a 3.46% decrease in their position. 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 that occurred on Monday, July 27th. The stock was sold at an average price of $1.81, for a total transaction of $36,574.67. Following the completion of the transaction, the director directly owned 167,086 shares in the company, valued at approximately $302,425.66. The trade was a 10.79% decrease in their position. The SEC filing for this sale provides additional information. 2.13% of the stock is currently owned by company insiders.

8X8 Trading Down 1.5%

EGHT opened at $1.95 on Wednesday. The firm has a market cap of $281.66 million, a price-to-earnings ratio of 48.76, a PEG ratio of 1.36 and a beta of 1.83. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.83. 8×8 Inc has a 12 month low of $1.57 and a 12 month high of $2.88. The stock has a fifty day moving average price of $1.95 and a 200-day moving average price of $2.05.

8X8 (NASDAQ:EGHT) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. 8X8 had a return on equity of 28.72% and a net margin of 0.64%.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, equities research analysts anticipate that 8×8 Inc will post 0.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

EGHT has been the subject of a number of research reports. 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 restated a “buy” rating and issued a $3.25 price target (up from $3.00) on shares of 8X8 in a report on Wednesday, August 5th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $3.00 price objective on shares of 8X8 in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $2.72.

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.