8×8, Inc. (NASDAQ:EGHT) Shares Purchased by Boston Partners

Boston Partners increased its holdings in shares of 8×8, Inc. (NASDAQ:EGHT) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,644,856 shares of the company’s stock after buying an additional 252,083 shares during the period. Boston Partners owned about 5.05% of 8X8 worth $17,742,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in EGHT. B. Riley Financial Inc. acquired a new position in shares of 8X8 during the third quarter worth about $1,997,000. Geode Capital Management LLC lifted its position in shares of 8X8 by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,982,393 shares of the company’s stock worth $6,085,000 after purchasing an additional 237,181 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in 8X8 by 8.2% in the third quarter. BNP Paribas Financial Markets now owns 148,201 shares of the company’s stock valued at $302,000 after buying an additional 11,287 shares during the last quarter. FMR LLC raised its stake in 8X8 by 24.5% in the third quarter. FMR LLC now owns 1,600,112 shares of the company’s stock valued at $3,264,000 after buying an additional 314,441 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its holdings in 8X8 by 178.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 94,076 shares of the company’s stock worth $192,000 after buying an additional 60,316 shares during the last quarter. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EGHT has been the topic of several research analyst reports. Needham & Company LLC raised their target price on 8X8 from $3.00 to $3.50 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of 8X8 in a research note on Friday, March 7th. Barclays raised their price objective on 8X8 from $2.50 to $3.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Mizuho cut 8X8 from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $2.75 to $2.50 in a research report on Friday, December 13th. Finally, StockNews.com cut 8X8 from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 5th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, 8X8 presently has an average rating of “Hold” and a consensus price target of $2.99.

8X8 Trading Down 2.7 %

NASDAQ:EGHT opened at $2.18 on Friday. 8×8, Inc. has a 12-month low of $1.51 and a 12-month high of $3.52. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 3.08. The stock’s 50 day simple moving average is $2.64 and its 200-day simple moving average is $2.50. The firm has a market cap of $287.09 million, a P/E ratio of -6.06, a PEG ratio of 6.08 and a beta of 1.78.

8X8 (NASDAQ:EGHT) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. 8X8 had a negative net margin of 6.33% and a negative return on equity of 1.45%. Equities analysts anticipate that 8×8, Inc. will post 0.04 EPS for the current year.

Insider Activity at 8X8

In other news, insider Laurence Denny sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $3.00, for a total transaction of $30,000.00. Following the completion of the transaction, the insider now directly owns 233,791 shares of the company’s stock, valued at approximately $701,373. This represents a 4.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 12,000 shares of company stock worth $34,790 over the last 90 days. Company insiders own 1.22% of the company’s stock.

About 8X8

8×8, Inc engages in the provision of enterprise communication solutions. It offers solutions to the business services, education, financial services, government, healthcare, and manufacturing industries. The company was founded in February 1987 and is headquartered in Campbell, CA.