Alliancebernstein L.P. Sells 130,700 Shares of 8×8, Inc. (EGHT)
Alliancebernstein L.P. lowered its holdings in 8×8, Inc. (NASDAQ:EGHT) by 24.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 400,716 shares of the technology company’s stock after selling 130,700 shares during the quarter. Alliancebernstein L.P. owned 0.43% of 8X8 worth $8,515,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in EGHT. Swiss National Bank lifted its position in 8X8 by 1.8% during the 3rd quarter. Swiss National Bank now owns 162,200 shares of the technology company’s stock worth $3,447,000 after acquiring an additional 2,800 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in 8X8 during the 3rd quarter worth approximately $417,000. JPMorgan Chase & Co. lifted its position in 8X8 by 45.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 136,986 shares of the technology company’s stock worth $2,910,000 after acquiring an additional 42,563 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position 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 worth $19,396,000 after acquiring an additional 69,561 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in 8X8 by 322.1% during the 3rd quarter. SG Americas Securities LLC now owns 68,547 shares of the technology company’s stock worth $1,457,000 after acquiring an additional 52,307 shares in the last quarter. 71.56% of the stock is owned by institutional investors.
Shares of NASDAQ EGHT opened at $19.02 on Monday. 8×8, Inc. has a twelve month low of $13.90 and a twelve month high of $23.50.
In related news, Director Ian Potter sold 1,690 shares of the company’s stock in a transaction on Monday, October 22nd. The stock was sold at an average price of $18.35, for a total transaction of $31,011.50. Following the completion of the transaction, the director now directly owns 97,354 shares in the company, valued at approximately $1,786,445.90. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Vikram Verma acquired 5,730 shares of the stock in a transaction that occurred on Thursday, November 1st. The shares were bought 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. 4.40% of the stock is currently owned by insiders.
Several equities analysts recently commented on EGHT shares. BidaskClub lowered 8X8 from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 20th. Zacks Investment Research upgraded 8X8 from a “sell” rating to a “hold” rating in a report on Wednesday, September 26th. William Blair started coverage on 8X8 in a report on Wednesday, October 10th. They set an “outperform” rating on the stock. Summit Insights restated a “hold” rating on shares of 8X8 in a report on Tuesday, October 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $23.00 price objective (down from $25.00) on shares of 8X8 in a report on Tuesday, October 30th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $23.00.
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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