Andrew Burton Sells 107,085 Shares of 8X8 (NASDAQ:EGHT) Stock

8×8 Inc (NASDAQ:EGHT) Director Andrew Burton sold 107,085 shares of the company’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $1.81, for a total transaction of $193,823.85. Following the transaction, the director owned 151,615 shares in the company, valued at $274,423.15. The trade was a 41.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

8X8 Stock Performance

8X8 stock opened at $1.83 on Wednesday. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.05 and a quick ratio of 1.05. 8×8 Inc has a 1-year low of $1.57 and a 1-year high of $2.88. The firm has a market capitalization of $264.33 million, a P/E ratio of 45.76, a price-to-earnings-growth ratio of 1.27 and a beta of 1.84. The company’s 50-day moving average is $1.97 and its 200 day moving average is $1.99.

8X8 (NASDAQ:EGHT) last announced its earnings results on Tuesday, August 4th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.05. The business had revenue of $190.17 million during the quarter, compared to analyst estimates of $182.47 million. 8X8 had a return on equity of 28.72% and a net margin of 0.64%.8X8 has set its FY 2027 guidance at 0.330-0.380 EPS and its Q2 2027 guidance at 0.070-0.080 EPS. Research analysts forecast that 8×8 Inc will post 0.2 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Cetera Investment Advisers grew its stake in shares of 8X8 by 9.4% during the first quarter. Cetera Investment Advisers now owns 48,053 shares of the company’s stock worth $80,000 after acquiring an additional 4,144 shares during the last quarter. Sei Investments Co. increased its stake in 8X8 by 38.9% during the 1st quarter. Sei Investments Co. now owns 29,209 shares of the company’s stock valued at $48,000 after purchasing an additional 8,177 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of 8X8 by 38.6% during the first quarter. SG Americas Securities LLC now owns 36,910 shares of the company’s stock worth $61,000 after buying an additional 10,280 shares during the period. Heron Bay Capital Management acquired a new stake in shares of 8X8 during the second quarter worth $25,000. Finally, Legal & General Group Plc acquired a new position in shares of 8X8 in the 2nd quarter valued at $26,000. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EGHT has been the topic of a number of recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $3.00 target price on shares of 8X8 in a research note on Thursday, September 10th. B. Riley Financial reissued a “buy” rating and set a $3.25 target price (up from $3.00) on shares of 8X8 in a research note on Wednesday, August 5th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of 8X8 in a report on Tuesday, September 1st. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $3.12.

About 8X8

8×8, Inc is a cloud communications and customer engagement company that provides voice, video, messaging, contact center and application programming interface (API) services through its integrated platform. Its offerings are designed to help businesses manage internal communications, customer interactions and digital workflows from the cloud.

The company’s product portfolio includes 8×8 Work, a unified communications solution for business calling, team messaging and meetings, and 8×8 Contact Center, which supports customer service operations across voice and digital channels.