8x8, Inc. (NASDAQ:EGHT) Shares Sold by Marshall Wace LLP

Marshall Wace LLP lowered its position in 8x8, Inc. (NASDAQ:EGHT - Free Report) by 45.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 436,561 shares of the company's stock after selling 360,071 shares during the period. Marshall Wace LLP owned 0.33% of 8X8 worth $1,166,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EGHT. Cerity Partners LLC lifted its stake in shares of 8X8 by 11.8% in the fourth quarter. Cerity Partners LLC now owns 28,239 shares of the company's stock worth $73,000 after buying an additional 2,983 shares in the last quarter. Picton Mahoney Asset Management lifted its stake in 8X8 by 53.6% in the 4th quarter. Picton Mahoney Asset Management now owns 11,104 shares of the company's stock worth $30,000 after purchasing an additional 3,876 shares in the last quarter. Rhumbline Advisers lifted its stake in 8X8 by 5.2% in the 4th quarter. Rhumbline Advisers now owns 165,380 shares of the company's stock worth $442,000 after purchasing an additional 8,100 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of 8X8 by 1.5% during the 4th quarter. Federated Hermes Inc. now owns 623,453 shares of the company's stock worth $1,665,000 after purchasing an additional 9,114 shares during the last quarter. Finally, Pallas Capital Advisors LLC purchased a new stake in shares of 8X8 in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 93.99% of the company's stock.

Insiders Place Their Bets

In related news, insider Laurence Denny sold 10,000 shares of the business's 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 sale, the insider now owns 233,791 shares in the company, valued at $701,373. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Sylebra Capital Llc sold 101,678 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $2.23, for a total transaction of $226,741.94. Following the sale, the insider now directly owns 14,085,649 shares in the company, valued at approximately $31,410,997.27. The trade was a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 263,678 shares of company stock worth $590,602 over the last 90 days. Corporate insiders own 1.22% of the company's stock.

8X8 Trading Up 0.8 %

Shares of NASDAQ:EGHT traded up $0.02 during mid-day trading on Monday, reaching $1.85. 96,313 shares of the company were exchanged, compared to its average volume of 1,042,244. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.25 and a quick ratio of 1.24. The firm's 50-day simple moving average is $1.98 and its 200 day simple moving average is $2.48. 8x8, Inc. has a 1 year low of $1.51 and a 1 year high of $3.52. The firm has a market cap of $242.98 million, a price-to-earnings ratio of -5.12, a P/E/G ratio of 6.08 and a beta of 1.80.

8X8 (NASDAQ:EGHT - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.03. 8X8 had a negative return on equity of 1.45% and a negative net margin of 6.33%. Equities research analysts forecast that 8x8, Inc. will post 0.04 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on EGHT. StockNews.com lowered 8X8 from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 5th. Rosenblatt Securities dropped their price objective on shares of 8X8 from $3.30 to $2.70 and set a "buy" rating for the company in a report on Thursday, April 24th. Wells Fargo & Company reduced their target price on shares of 8X8 from $2.00 to $1.50 and set an "underweight" rating on the stock in a research note on Tuesday, April 22nd. Needham & Company LLC increased their price target on shares of 8X8 from $3.00 to $3.50 and gave the company a "buy" rating in a research note on Wednesday, February 5th. Finally, Morgan Stanley reduced their price target on shares of 8X8 from $2.60 to $1.90 and set an "underweight" rating on the stock in a research report on Wednesday, April 16th. Three analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $2.66.

8X8 Company Profile

8x8, 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.