8×8, Inc. (EGHT) Shares Sold by Rhumbline Advisers

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.

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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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Institutional Ownership by Quarter for 8X8 (NASDAQ:EGHT)

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