Kopp Investment Advisors LLC lowered its holdings in shares of 8×8, Inc. (NASDAQ:EGHT) by 2.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 145,350 shares of the technology company’s stock after selling 4,320 shares during the period. 8X8 comprises about 2.1% of Kopp Investment Advisors LLC’s investment portfolio, making the stock its 17th biggest position. Kopp Investment Advisors LLC owned 0.16% of 8X8 worth $2,049,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in 8X8 in the 3rd quarter worth $139,000. Dynamic Technology Lab Private Ltd bought a new stake in 8X8 in the 3rd quarter worth $169,000. Sei Investments Co. grew its holdings in 8X8 by 158.9% in the 3rd quarter. Sei Investments Co. now owns 14,253 shares of the technology company’s stock worth $192,000 after acquiring an additional 8,747 shares during the last quarter. Virginia Retirement Systems ET AL bought a new stake in 8X8 in the 3rd quarter worth $197,000. Finally, Stone Ridge Asset Management LLC bought a new stake in 8X8 in the 4th quarter worth $199,000. 71.56% of the stock is currently owned by institutional investors.
In other news, SVP Darren J. Hakeman sold 8,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $18.47, for a total value of $147,760.00. Following the completion of the sale, the senior vice president now directly owns 62,886 shares of the company’s stock, valued at approximately $1,161,504.42. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bryan R. Martin sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $17.86, for a total transaction of $1,786,000.00. Following the completion of the sale, the insider now directly owns 1,001,010 shares of the company’s stock, valued at $17,878,038.60. The disclosure for this sale can be found here. Company insiders own 4.40% of the company’s stock.
Shares of 8×8, Inc. (NASDAQ EGHT) opened at $19.90 on Monday. 8×8, Inc. has a 12-month low of $10.30 and a 12-month high of $20.05. The company has a market cap of $1,830.00, a PE ratio of -25.51 and a beta of 0.67.
8X8 (NASDAQ:EGHT) last posted its earnings results on Thursday, January 25th. The technology company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.06. 8X8 had a negative net margin of 2.56% and a positive return on equity of 0.03%. The firm had revenue of $75.58 million during the quarter, compared to analysts’ expectations of $73.90 million. During the same period last year, the company posted $0.06 EPS. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. analysts predict that 8×8, Inc. will post -0.12 EPS for the current year.
8X8 Company Profile
8×8, Inc provides cloud-based, enterprise-class software solutions. The Company’s solutions are delivered through Software as a Service (SaaS) business model. Its segments include Americas and Europe. Its software platform brings together cloud, mobile, collaboration, video and data science technologies.
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