Vanguard Group Inc. Has $33.69 Million Position in 8x8, Inc. (NASDAQ:EGHT)

Vanguard Group Inc. trimmed its holdings in shares of 8x8, Inc. (NASDAQ:EGHT - Free Report) by 2.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,615,993 shares of the company's stock after selling 307,475 shares during the quarter. Vanguard Group Inc. owned about 9.58% of 8X8 worth $33,685,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of EGHT. Charles Schwab Investment Management Inc. boosted its stake in shares of 8X8 by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,338,701 shares of the company's stock worth $2,731,000 after acquiring an additional 23,731 shares in the last quarter. BNP Paribas Financial Markets boosted its position in 8X8 by 8.2% during the third quarter. BNP Paribas Financial Markets now owns 148,201 shares of the company's stock worth $302,000 after purchasing an additional 11,287 shares during the period. Jane Street Group LLC grew its holdings in 8X8 by 18.6% during the third quarter. Jane Street Group LLC now owns 178,674 shares of the company's stock valued at $364,000 after purchasing an additional 28,030 shares during the last quarter. XTX Topco Ltd grew its holdings in 8X8 by 487.9% during the third quarter. XTX Topco Ltd now owns 130,490 shares of the company's stock valued at $266,000 after purchasing an additional 108,293 shares during the last quarter. Finally, Barclays PLC raised its position in shares of 8X8 by 198.8% in the third quarter. Barclays PLC now owns 216,123 shares of the company's stock valued at $440,000 after purchasing an additional 143,791 shares during the period. 93.99% of the stock is owned by institutional investors and hedge funds.

8X8 Stock Performance

Shares of NASDAQ EGHT traded down $0.01 during trading hours on Friday, reaching $1.58. The stock had a trading volume of 1,001,814 shares, compared to its average volume of 1,027,131. 8x8, Inc. has a twelve month low of $1.51 and a twelve month high of $3.52. 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 business's fifty day moving average is $2.23 and its two-hundred day moving average is $2.49. The company has a market cap of $207.42 million, a price-to-earnings ratio of -4.37, a PEG ratio of 6.08 and a beta of 1.81.

8X8 (NASDAQ:EGHT - Get Free Report) last released 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%. As a group, research analysts expect that 8x8, Inc. will post 0.04 EPS for the current year.

Analyst Ratings Changes

EGHT has been the topic of a number of research analyst reports. Rosenblatt Securities lowered their target price on shares of 8X8 from $3.50 to $3.30 and set a "buy" rating on the stock in a research note on Monday, February 3rd. Barclays raised their price target on 8X8 from $2.50 to $3.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Mizuho decreased their target price on 8X8 from $2.50 to $2.00 and set an "underperform" rating for the company in a research note on Tuesday. StockNews.com lowered 8X8 from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 5th. Finally, Needham & Company LLC upped their price target on 8X8 from $3.00 to $3.50 and gave the stock a "buy" rating in a report on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $2.81.

Insider Buying and Selling at 8X8

In related news, 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 completion of the transaction, the insider now owns 14,085,649 shares in the company, valued at $31,410,997.27. This trade represents a 0.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laurence Denny sold 10,000 shares of the company's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $3.00, for a total value of $30,000.00. Following the completion of the sale, the insider now owns 233,791 shares in the company, valued at $701,373. This trade represents a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 263,678 shares of company stock valued at $590,602. 1.22% of the stock is currently owned by corporate insiders.

8X8 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.