101,988 Shares in 8×8, Inc. (NASDAQ:EGHT) Acquired by Integrated Quantitative Investments LLC

Integrated Quantitative Investments LLC bought a new position in shares of 8×8, Inc. (NASDAQ:EGHT) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 101,988 shares of the company’s stock, valued at approximately $272,000.

A number of other institutional investors have also recently bought and sold shares of EGHT. Boston Partners raised its holdings in shares of 8X8 by 3.9% during the fourth quarter. Boston Partners now owns 6,644,856 shares of the company’s stock worth $17,742,000 after acquiring an additional 252,083 shares during the period. Geode Capital Management LLC boosted its stake in 8X8 by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 3,024,322 shares of the company’s stock worth $8,077,000 after purchasing an additional 41,929 shares during the period. FMR LLC increased its holdings in 8X8 by 24.5% during the 3rd quarter. FMR LLC now owns 1,600,112 shares of the company’s stock worth $3,264,000 after purchasing an additional 314,441 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of 8X8 by 6.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,418,743 shares of the company’s stock valued at $3,788,000 after purchasing an additional 80,042 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of 8X8 by 17.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 798,267 shares of the company’s stock valued at $2,131,000 after purchasing an additional 118,686 shares in the last quarter. Institutional investors own 93.99% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Mizuho downgraded 8X8 from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $2.75 to $2.50 in a report on Friday, December 13th. Morgan Stanley lifted their price objective on shares of 8X8 from $2.00 to $2.60 and gave the company an “underweight” rating in a report on Wednesday, December 18th. Needham & Company LLC increased their target price on shares of 8X8 from $3.00 to $3.50 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of 8X8 in a research note on Saturday, March 22nd. Finally, StockNews.com downgraded shares of 8X8 from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, 8X8 presently has a consensus rating of “Hold” and an average target price of $2.99.

8X8 Stock Down 6.3 %

Shares of EGHT stock opened at $1.72 on Friday. 8×8, Inc. has a 52-week low of $1.51 and a 52-week high of $3.52. The stock has a market cap of $226.51 million, a price-to-earnings ratio of -4.78, a PEG ratio of 6.08 and a beta of 1.81. The firm’s 50-day moving average is $2.51 and its 200-day moving average is $2.52. The company has a debt-to-equity ratio of 3.08, a quick ratio of 1.24 and a current ratio of 1.25.

8X8 (NASDAQ:EGHT) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.03. 8X8 had a negative return on equity of 1.45% and a negative net margin of 6.33%. Sell-side analysts predict that 8×8, Inc. will post 0.04 EPS for the current year.

Insider Activity at 8X8

In related news, insider Laurence Denny sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $3.00, for a total value of $30,000.00. Following the transaction, the insider now owns 233,791 shares in the company, valued at approximately $701,373. This represents a 4.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Sylebra Capital Llc sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $2.23, for a total transaction of $223,000.00. Following the sale, the insider now owns 14,289,476 shares of the company’s stock, valued at $31,865,531.48. This trade represents a 0.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 263,678 shares of company stock worth $591,532. Company insiders own 1.22% of the company’s stock.

8X8 Profile

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.