8×8, Inc. (NASDAQ:EGHT – Get Free Report) CAO Suzy M. Seandel sold 7,333 shares of 8X8 stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $2.08, for a total value of $15,252.64. Following the transaction, the chief accounting officer now directly owns 319,798 shares of the company’s stock, valued at approximately $665,179.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
8X8 Stock Down 5.7 %
Shares of NASDAQ EGHT opened at $1.97 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 3.93. The stock has a market capitalization of $246.99 million, a PE ratio of -3.58 and a beta of 1.56. The firm has a fifty day moving average of $1.88 and a 200-day moving average of $2.29. 8×8, Inc. has a 52-week low of $1.51 and a 52-week high of $3.92.
8X8 (NASDAQ:EGHT – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). The firm had revenue of $172.80 million for the quarter, compared to analyst estimates of $178.90 million. 8X8 had a negative return on equity of 6.51% and a negative net margin of 8.65%. The business’s revenue was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.04) earnings per share. On average, analysts anticipate that 8×8, Inc. will post -0.08 EPS for the current year.
Analysts Set New Price Targets
Read Our Latest Stock Report on EGHT
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the business. Creative Planning increased its position in shares of 8X8 by 16.6% in the third quarter. Creative Planning now owns 38,245 shares of the company’s stock worth $78,000 after acquiring an additional 5,453 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in 8X8 during the 2nd quarter worth $77,000. Susquehanna Fundamental Investments LLC boosted its position in 8X8 by 62.0% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 439,230 shares of the company’s stock worth $975,000 after purchasing an additional 168,057 shares during the period. Mackenzie Financial Corp increased its holdings in 8X8 by 73.5% in the 2nd quarter. Mackenzie Financial Corp now owns 118,775 shares of the company’s stock valued at $264,000 after purchasing an additional 50,328 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in 8X8 in the second quarter valued at about $44,000. Hedge funds and other institutional investors own 93.99% 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 business, mid-market, enterprise customers, government agencies, and other organizations worldwide. It offers 8×8 Work, a self-contained end-to-end united communications solution that delivers voice services, secure video meetings, and unified messaging, including direct messages, public and private team messaging rooms, and peer-to-peer short and multimedia messaging; 8×8 Contact Center, a cloud-based contact center as-a-service solution; and 8×8 Engage, an artificial intelligence-powered solution that equips customer-facing employees outside the contact center with the tools and capabilities to deliver successful customer engagements.
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