Rhumbline Advisers decreased its stake in shares of 8×8, Inc. (NASDAQ:EGHT) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 217,157 shares of the technology company’s stock after selling 5,369 shares during the period. Rhumbline Advisers owned about 0.23% of 8X8 worth $4,615,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in 8X8 by 45.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 136,986 shares of the technology company’s stock valued at $2,910,000 after buying an additional 42,563 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in 8X8 by 8.2% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 912,761 shares of the technology company’s stock valued at $19,396,000 after buying an additional 69,561 shares in the last quarter. SG Americas Securities LLC lifted its holdings in 8X8 by 322.1% during the 3rd quarter. SG Americas Securities LLC now owns 68,547 shares of the technology company’s stock valued at $1,457,000 after buying an additional 52,307 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in 8X8 during the 3rd quarter valued at about $2,287,000. Finally, Wells Fargo & Company MN lifted its holdings in 8X8 by 45.4% during the 3rd quarter. Wells Fargo & Company MN now owns 803,902 shares of the technology company’s stock valued at $17,083,000 after buying an additional 250,949 shares in the last quarter. Institutional investors own 71.56% of the company’s stock.
In other news, Director Ian Potter sold 1,690 shares of the business’s stock in a transaction dated Monday, October 22nd. The shares were sold at an average price of $18.35, for a total value of $31,011.50. Following the completion of the sale, the director now owns 97,354 shares in the company, valued at approximately $1,786,445.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Vikram Verma purchased 5,730 shares of 8X8 stock in a transaction dated Thursday, November 1st. The stock was acquired at an average price of $17.09 per share, with a total value of $97,925.70. The disclosure for this purchase can be found here. Insiders own 4.40% of the company’s stock.
NASDAQ:EGHT opened at $19.02 on Friday. 8×8, Inc. has a one year low of $13.90 and a one year high of $23.50.
8X8 (NASDAQ:EGHT) last posted its quarterly earnings results on Monday, October 29th. The technology company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. The business had revenue of $85.70 million during the quarter, compared to the consensus estimate of $84.26 million. During the same quarter in the prior year, the firm posted $0.03 EPS. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year.
EGHT has been the subject of a number of research analyst reports. William Blair initiated coverage on shares of 8X8 in a report on Wednesday, October 10th. They set an “outperform” rating for the company. BidaskClub lowered shares of 8X8 from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 20th. Zacks Investment Research upgraded shares of 8X8 from a “sell” rating to a “hold” rating in a report on Wednesday, September 26th. Summit Insights reiterated a “hold” rating on shares of 8X8 in a report on Tuesday, October 30th. Finally, Bank of America set a $23.00 price objective on shares of 8X8 and gave the company a “hold” rating in a report on Tuesday, October 30th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $23.00.
COPYRIGHT VIOLATION WARNING: “8×8, Inc. (EGHT) Shares Sold by Rhumbline Advisers” was originally reported by American Banking News and is owned by of American Banking News. If you are reading this report on another domain, it was stolen and republished in violation of U.S. and international copyright & trademark law. The original version of this report can be accessed at https://www.americanbankingnews.com/2018/12/08/8x8-inc-eght-shares-sold-by-rhumbline-advisers.html.
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.
Featured Article: Find a Trading Strategy That Works
Want to see what other hedge funds are holding EGHT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 8×8, Inc. (NASDAQ:EGHT).
Receive News & Ratings for 8X8 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 8X8 and related companies with MarketBeat.com's FREE daily email newsletter.